Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Industry fund
Aware Super uses a Lifecycle default in its Future Saver account and offers retirement income accounts, investment choice and several levels of advice.
Public membership is available. Some former scheme members, including defined-benefit and employer groups, need the documents for their own plan.
Retail platform
Expand is a super and pension platform with Essential and Extra product tiers. Its value depends on the investment menu and services a member actually uses.
Use the Essential or Extra PDS and target market determination. The platform is commonly used with advice, and an application requires an investment choice; Essential allows a cash holding while a member decides on a longer-term strategy.
Choose the actual investment pathway for each account. For lifecycle products, select the named stage relevant to you. No stage is selected automatically.
The costs and returns belong to the selected product, option or lifecycle stage.
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 | Aware Super | Expand |
|---|---|---|
| Membership and access | Public membership is available. Some former scheme members, including defined-benefit and employer groups, need the documents for their own plan. Sources1 | Use the Essential or Extra PDS and target market determination. The platform is commonly used with advice, and an application requires an investment choice; Essential allows a cash holding while a member decides on a longer-term strategy. Sources2 |
| Accounts and products | Future Saver public accumulation account; restricted legacy and employer arrangements are separate. Future Saver Retirement Income Retirement Transition Legacy defined-benefit arrangements Sources12345678 | Expand Essential and Extra in IOOF Portfolio Service Superannuation Fund; not MLC MasterKey. Expand Essential Super and Pension Expand Extra Super and Pension Retirement Boost Sources1234567 |
| Investment choices | MySuper Lifecycle Future Saver members who do not choose an investment option use MySuper Lifecycle, which changes the mix with age. Members can choose diversified or single-asset-class investments instead. The retirement-account default is Conservative Balanced, rather than the accumulation Lifecycle approach. Sources23 | Member-selected investments; not a single platform-wide MySuper default. Essential combines a menu of managed funds and model portfolios with Essential+, which adds selected ETFs and term deposits. Extra offers a much broader selection of managed funds, model portfolios and listed investments. Investments across menus can carry different administration charges. Sources1234 |
| Insurance | Death, TPD and income protection cover are available through TAL policies, subject to eligibility. Basic Cover comprises death and TPD; other cover can require an application. NSW Police and Ambulance officers have special arrangements and should use their own insurance handbooks. Sources56 | Expand advertises group and retail insurance options. The policy, underwriting and cost depend on the cover arranged; the platform's investment features do not establish that a member is insured. Sources1 |
| Retirement income | Retirement Income is the account-based pension product. Retirement Transition is for eligible members accessing super while working and automatically becomes Retirement Income at age 65. Members can keep the Conservative Balanced default or choose their own investment mix. Sources34 | Both tiers have pension products. Retirement Boost adds a separate lifetime-income proposition with its own eligibility and access rules. It should be compared with other lifetime products rather than treated as an ordinary account-based pension. Sources125 |
| Advice and support | Aware offers help about its accounts, personal retirement advice and broader financial advice. Advice about Aware accounts can be available at no extra cost, while broader advice has a fee. Confirm what the service covers before relying on it for decisions involving other assets or another fund. Sources48 | An advised arrangement needs two assessments: whether the adviser service is useful and whether the platform is an appropriate way to implement it. Ask for the full ongoing cost and the consequences of ending the advice relationship. Sources1234567 |
| Fee details to check | Compare the fee for the actual Lifecycle age allocation or chosen option. A retirement account and Future Saver can have different administration and investment costs, so the accumulation total should not be carried into a pension comparison. Sources12345678 | Add platform administration, account charges, underlying investment fees, transaction or brokerage costs, insurance and any adviser fee. Essential+ has a higher administration rate on the first part of the balance than the ordinary Essential menu. A low fee quoted for one menu is not a price for every portfolio. Sources34 |
| Comparing investment performance | A Lifecycle comparison must match the member's age and the relevant investment mix. Conservative Balanced pension results and Future Saver results differ in investment strategy and tax treatment; a single brand-level return would obscure those differences. Compare Future Saver's Lifecycle for the same age, and compare retirement accounts separately. Check whether advice being compared is general guidance, personal advice about the fund, or broader financial planning. Sources3 | There is no single meaningful Expand investment return. Measure the chosen portfolio after all applicable costs. The performance test covers only eligible trustee-directed investments, so a result for one option does not describe every investment on the platform. State Essential versus Extra and the menu used. Keep option-specific performance-test outcomes attached to the relevant option IDs. Sources67 |
| Former names and account history | First State Super: Renamed Aware Super in September 2020. StatePlus: Former advice and retirement brand, acquired by First State Super in 2016 and rebranded in 2020; do not confuse with State Super NSW defined benefit schemes. TelstraSuper: Heritage TelstraSuper accounts moved to Aware Super, with new arrangements from 1 May 2026; heritage insurance terms remain account-specific. Sources91011 | This detail has not been verified for this profile. Check the current product documents. |
THE SUPERGURU VIEW
Aware is worth examining if you want investment management and help with retirement decisions in the same place. The change from an accumulation Lifecycle default to a Conservative Balanced retirement default deserves a close look: it is a meaningful change in how your money is invested, not just a new account name.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE SUPERGURU VIEW
Expand makes most sense to investigate when a person needs its investment or retirement features and can explain why. A broad platform can be useful with a carefully chosen portfolio, but it also creates several layers of fees to compare. The product tier and menu selection should be visible in any price comparison.
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 Aware Super profile · Read the full Expand 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.