Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Industry fund
AustralianSuper combines a conventional Balanced default with a choice of pooled investments and a Member Direct account for people who want to choose listed investments themselves.
Open to people working in Australia, subject to the product's eligibility rules. Employer arrangements can affect insurance, particularly AustralianSuper Select.
Industry fund
Equip Super combines a conventional super investment menu with retirement income products and a MyPension investment strategy.
Public joining is available, with separate terms for certain employer and defined benefit arrangements. A workplace plan may differ from the standard accumulation offer.
Choose the actual investment pathway for each account. For lifecycle products, select the named stage relevant to you. No stage is selected automatically.
| Measure | AustralianSuper MySuper | Choose an investment option |
|---|---|---|
| Return basis | MySuper net return after administration costs, $50,000 representative member | Choose an option |
| 3-year return, per year | 9.06% | Choose an option |
| 5-year return, per year | 6.34% | Choose an option |
| 7-year return, per year | 7.31% | Choose an option |
| 10-year return, per year | 8.27% | Choose an option |
| APRA strategic growth allocation | 73.42% | Choose an option |
| Reported total fees, net of tax, at $50,000 | $345 a year (0.69%) | Choose an option |
| Administration and advice costs, net of tax (included in total) | $85 a year | Choose an option |
| 2026 performance test | Pass | Choose an option |
| New-member status at reporting date | Check the current product eligibility rules | Check the current product eligibility rules |
Source: APRA Comprehensive Product Performance Package 2026, published 28 August 2026. Fees reflect the reporting year to 30 June 2026, are net of tax, use standard arrangements and exclude member-activity fees. Dollar figures are rounded. They are not a current quote. Check the latest PDS for changes, insurance premiums and any separately charged advice.
Returns are annualised historical results. Different return bases, risk levels and periods cannot be treated as interchangeable. MySuper net returns use a $50,000 representative balance even when you change the fee balance. A lifecycle stage return does not track a person moving between stages. Missing figures mean not reported, not zero. Past returns do not predict future returns. Read our method and APRA's definitions.
| What to compare | AustralianSuper | Equip Super |
|---|---|---|
| Membership and access | Open to people working in Australia, subject to the product's eligibility rules. Employer arrangements can affect insurance, particularly AustralianSuper Select. Sources1 | Public joining is available, with separate terms for certain employer and defined benefit arrangements. A workplace plan may differ from the standard accumulation offer. Sources12345 |
| Accounts and products | Public accumulation accounts; Choice Income and TTR Income are separate products. AustralianSuper accumulation Choice Income account-based pension TTR Income Member Direct investment option Sources1234567 | Accumulation super, retirement income and transition-to-retirement accounts, alongside existing defined benefit arrangements. Sources12345 |
| Investment choices | Balanced The menu has three distinct approaches. PreMixed options put different asset classes into a single portfolio. DIY Mix lets you choose the proportions allocated to the fund's asset-class options. Member Direct provides access to eligible listed investments and term deposits within AustralianSuper, with its own costs and restrictions. Sources23 | The menu includes diversified and sector options, with MySuper as the default for accumulation members who do not choose. Check the current menu: the Future Focus option closed on 17 June 2026. Sources12345 |
| Insurance | Insurance cover can include death, total and permanent disablement and income protection. Cover and pricing depend on eligibility and work rating. Insurance is not available inside Choice Income or TTR Income accounts. Sources47 | Use the insurance guide for the relevant membership or employer category. Standard and workplace arrangements should not be treated as interchangeable. Sources12345 |
| Retirement income | Choice Income provides retirement income, while TTR Income is for eligible people accessing part of their super before full retirement. Read the pension PDS separately because its fees and available features are not identical to an accumulation account. Sources4 | MyPension is a strategy for managing retirement savings across investment options. It is not a guaranteed lifetime pension. Sources12345 |
| Advice and support | Most telephone advice about an AustralianSuper account is included in the administration fee. Telephone advice about starting a pension or a transition to retirement strategy can cost extra; broader personal advice has an agreed fee. Sources4 | Members can receive advice about their super at no extra cost. Ask about the scope and separate fees before proceeding with broader financial planning. Sources12345 |
| Fee details to check | Compare administration, investment and transaction costs for your chosen option, then add insurance and any advice or Member Direct costs. AustralianSuper has announced an accumulation administration fee change for 31 October 2026: the asset-based rate will rise from 0.10% to 0.12% a year, and its cap from $350 to $600. The $1 weekly flat fee stays unchanged. These announced terms are not yet effective on the research date. Sources45 | Use the schedule effective for the current year and chosen product. Equip published investment fee and cost changes effective 1 July 2026. Sources12345 |
| Comparing investment performance | Use the same investment option and end date on both sides of a comparison. AustralianSuper's crediting rates deduct investment fees, transaction costs and tax, but its treatment of the percentage administration fee changed historically. A Balanced return is not a return earned by every member. Compare Balanced with a portfolio of similar risk, not automatically with every option called Balanced. Separate the current fee schedule from the announced 31 October 2026 schedule. Sources2 | Use current option names and the same account phase. The June 2026 option closure and earlier integration mean old menus and performance screenshots may mislead. Sources12345 |
THE SUPERGURU VIEW
AustralianSuper is a useful starting point for comparing a broad-service fund. The menu accommodates people who want the fund to manage their investments and people who want more control. Size alone does not settle the choice: the announced fee change is particularly relevant at larger balances, and service history deserves attention alongside investment results.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE SUPERGURU VIEW
Worth comparing for someone who wants support moving from super to pension, or who already belongs to an Equip employer plan.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
Use the membership rules to establish which accounts are available to you. Then compare the total price of the investment option and cover you need. A lower fee or higher historical return alone does not tell you which fund is suitable.
Ask both funds to confirm insurance acceptance, exclusions, waiting periods and whether cover would change when you leave your employer. Obtain advice before giving up a defined benefit or an insurance policy you may not be able to replace. ASIC Moneysmart explains the comparison checks.
Read the full AustralianSuper profile · Read the full Equip Super profile · Choose another comparison
Checked 2026-09-11. Documents and product terms can change after this date.
Checked 2026-09-11. Documents and product terms can change after this date.