Types of super fund

There are five main types of super funds – industry funds, retail funds, corporate funds, public sector funds and small super funds.

Small super funds are predominantly self-managed super funds (SMSFs) although a small percentage of small funds are known as small APRA funds.

You may also be able to open up a Retirement Savings Account (RSA), which is a superannuation account that’s similar to a savings account that banks and other financial organisations offer.

Set out below are all SuperGuide articles explaining Types of super fund.

MySuper: 118 super funds now available   Super Guide

Since 1 July 2013, super funds have been able to offer a new superannuation product called MySuper. A MySuper product has a single diversified investment option, a minimum amount of life insurance cover, and standardised disclosure of fees.

APRA league tables: Top 25 performing super funds over 10 years, and 5 years   Super Guide

In January 2014 APRA published its fourth annual report into the investment performance of Australia’s super funds spanning the 10-year period, and 5-year period, to 30 June 2013.

SMSF confidential: the inside story on DIY super funds   Super Guide

The ATO publishes an annual report about SMSFs for each financial year. This article covers the ATO’s 2011-2012 statistical review of SMSFs (released in late December 2013).

SMSFs surge towards 520,000 controlling $520B in assets   Super Guide

More than half a million self-managed super funds are now in operation, according to the latest statistics released by the Australian Taxation Office.

Top 10 performing super funds for 2013 calendar year, and for past 10 years   Super Guide

More good news for Australian fund members, and for Australian super funds! The investment performance results for the 2013 calendar year are the best returns in 20 years.

How much do your super fund trustees get paid?   Super Guide

One of Australia’s largest super funds, Cbus, was the first super fund to disclose trustee and executive pay, individually, in salary and other financial benefits. This practice has continued for a second year, and four other super funds have also led the way.

Quotas: More independent super trustees needed   Super Guide

Australian superannuation funds need to appoint more independent directors to trustee boards of super funds, says the federal government in its latest discussion paper. Currently, most trustee directors on superannuation boards are not considered independent.

Ouch! Large super fund trustees must improve, says regulator   Super Guide

The Australian Prudential Regulation Authority has ‘let it rip’ so to speak regarding the level of skills and independence of trustees of APRA-regulated super funds.

Comparing super funds: Does bigger mean better returns?   Super Guide

Is bigger better when considering where to invest your super money? Do the larger super funds deliver higher longer-term returns than the smaller superannuation funds?

The top-performing balanced investment option over the 5-year period to 30 September 2013, delivering an average annual return of 7.6%, is REST super fund’s Core Strategy investment option.