You might already know that your employer must make super contributions on your behalf. But that’s only part of the story. Where you choose for your super money to go can make a big difference to your future wealth.

Watch our short video with AMP super coach, Jess. She explains some of the key things to keep in mind when choosing a super fund.

Choosing your super fund


What are my super choices?

When choosing a super fund, there are typically three main options you can choose from:

Your employer sponsored fund - usually arranged by a company for its employees. Some operate their own fund (using a board of trustees), while others create a contract with a retail or industry super fund.
A retail super fund - typically owned and run by financial services companies and open to anyone to join.
An industry fund - usually tied to a specific industry. Some are open to anyone, while others are only open to employees in that industry.

You also have the option of a self-managed super fund (or SMSF) which are private super funds managed by members (one to six people). These types of funds come with extra responsibilities and requirements.

What to consider when choosing a super plan

Choosing a super fund that’s right for you can have a big impact on the amount of money you retire with.

Here are some things to consider when comparing different funds:

  • Benefits in your new employer sponsored plan – if your employer has a sponsored super fund, look into it to see if it’s right for you. Often employer sponsored plans include negotiated benefits like discounted fees, on behalf of their employees
  • Fees and costs – there are a range of fees and costs associated with different types of super accounts and it can get complicated. If you’re struggling to compare, ask the super provider to provide you with a clear breakdown. Many super providers offer a simple, low-cost super investment option known as MySuper. You can compare MySuper fees and costs via the ATO YourSuper comparison tool
  • Fund performance – while past performance doesn't necessarily guarantee future performance, it does provide one way to help you compare different super accounts. If your fund offers MySuper and you don’t nominate an investment option, chances are it will be invested in a MySuper investment option (a simple, cost effective and balanced default investment option). You can compare MySuper performance via the ATO YourSuper comparison tool
  • Insurance - it's important to understand how changing super funds may impact your insurance benefits. Make sure to consider the premiums you’ll pay, these will come out of your super account. You can also learn more about eligibility requirements or age limits that may apply. 
  • Member services – consider what else comes with the plan that can support you. Like family access benefits, wellbeing programs, discounts or support. Be aware that these services may also cost more.

Learn more about AMP super

Having more than one super account

On average Australians will move jobs every 3.3 years1. That’s a lot of jobs in a lifetime, and in the past, may have meant ending up with multiple super funds and multiple sets of fees.

The good news is, on 1 November 2021 the Federal Government brought in super stapling reforms, which basically means, in most cases your existing super account will follow you from job-to-job. So, no more new super accounts being opened for you when you start a new job, unless you ask for it specifically. Learn more

If you think you might have lost or unclaimed super, you can search for it via the Australian Taxation Office’s super search service.

Speak to a super coach

If you have an AMP super account, you can learn more about your super by booking a 20-minute session with one of our super coaches, at no extra cost.

What you need to know

Any advice and information is provided by AWM Services Pty Ltd ABN 15 139 353 496, AFSL No. 366121 (AWM Services) and is general in nature. It hasn’t taken your financial or personal circumstances into account. 

It’s important to consider your particular circumstances and read the relevant product disclosure statement, Target Market Determination or terms and conditions, available from AMP at, or by calling 131 267, before deciding what’s right for you.

You can read our Financial Services Guide online for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. You can also ask us for a hardcopy. 

All information on this website is subject to change without notice. AWM Services is part of the AMP group.

The super coach session is a super health check and is provided by AWM Services. It is general advice conversation only. It does not consider your personal circumstances.