Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Retail fund
Bendigo SmartStart Super continues under Betashares ownership. Existing product terms should be assessed separately from any proposed future Betashares super product.
Check current availability for the specific product and option. Certain failed investment options are closed to new members.
Closed retail fund
Challenger Retirement Fund holds legacy super, pension and insurance contracts. Its products are closed to new members.
The provider confirms all products in this fund are closed to new members. Existing holders should use the documents for their particular contract.
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 | Bendigo SmartStart Super | Challenger Retirement Fund |
|---|---|---|
| Membership and access | Check current availability for the specific product and option. Certain failed investment options are closed to new members. Sources123 | The provider confirms all products in this fund are closed to new members. Existing holders should use the documents for their particular contract. Sources123 |
| Accounts and products | Bendigo SmartStart Super and SmartStart Pension. Sources123 | Existing products inside Challenger Retirement Fund. This entry does not describe every annuity currently sold by Challenger Life. Guaranteed Personal Superannuation Guaranteed Income Pension Plan Guaranteed Lifetime Pension Plan Term Allocated Pension Term Life under super Sources123 |
| Investment choices | MySuper is an age-based strategy using Growth Index, Balanced Index and Conservative Index at different ages, with a separate choice menu. Sources123 | Some contracts provide a guaranteed rate or income; others have cash or market-linked features. There is no single investment menu or balanced option that represents the whole fund. Sources123 |
| Insurance | Insurance is available under the SmartStart policy and guide. Sources123 | Term Life is a separate insurance product in the fund. Holding a pension does not mean a member has that insurance. Sources123 |
| Retirement income | SmartStart Pension has its own product documentation. Sources123 | Income, withdrawal rights and indexation depend on the original contract. Fixed terms may have break costs, while some lifetime pensions have no withdrawal value. Sources123 |
| Advice and support | Use the current support and advice documents to establish services and charges. Sources123 | This detail has not been verified for this profile. Check the current product documents. |
| Fee details to check | Use the current PDS and updates; ownership change alone does not establish a fee reduction. Sources123 | This detail has not been verified for this profile. Check the current product documents. |
| Comparing investment performance | The current site reports that Bendigo Balanced Wholesale and Bendigo High Growth Index did not pass the 2026 APRA performance test. This finding is option-specific, not a claim about every SmartStart option. Sources123 | Do not present this fund as an available destination for a new accumulation account. Guaranteed-income contracts and ordinary market investment options need different comparisons. Sources123 |
THE SUPERGURU VIEW
Most useful for an existing member reviewing their exact option and current alternatives.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE SUPERGURU VIEW
This entry is useful for someone trying to understand an existing policy. A modern super comparison can miss the promise built into a legacy pension. Start with the contract, its payment schedule and any surrender value before weighing a change.
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 Bendigo SmartStart Super profile · Read the full Challenger Retirement Fund 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.