Pension fund performance: Monthly returns to February 2026

Pension funds continued their positive momentum in February, with the median Growth fund (61–80% in growth assets) up 1.2% over the month, taking returns for the first eight months of the financial year to 7.3%. 

This follows the stellar annual return of 10.2% for the 2025 calendar year. However, share markets have tumbled in March as hostilities in the Middle East disrupt global supply chains and push up oil prices and inflation. The MSCI World Share Index is down about 7% in March so far, while US shares are down 5% and Australian shares down 8%.

Chant West head of superannuation investment research Mano Mohankumar urges members to keep the current short-term market turbulence in perspective, as returns tend to be positive in the long run. While it can be particularly difficult for recently retired members to stand by as their balance falls, Mohankumar says most people can afford to be patient.

“A lot of Australians don’t take their super as a lump sum at retirement, meaning a substantial amount is likely to remain within the super system in the pension phase, often for many years. In reality, their investment horizon is longer than they might think,” he says.

So, before you switch to cash, turning a paper loss into a real loss and potentially missing the rebound when it inevitably happens, Mohankumar suggests caution.

“We would encourage members who are thinking of switching options to see a financial adviser,” he says.

The table below shows median pension fund performance across various timeframes for five investment categories to the end of February 2026.