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
National Mutual Retirement Fund holds a range of older superannuation and insurance policies administered by Resolution Life.
The trustee's March 2026 assessment describes the fund as closed to new members. Existing-member contributions and successor transfers are different from opening a new retail account; the rules depend on the policy.
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 | National Mutual 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 trustee's March 2026 assessment describes the fund as closed to new members. Existing-member contributions and successor transfers are different from opening a new retail account; the rules depend on the policy. Sources1234 |
| Accounts and products | Bendigo SmartStart Super and SmartStart Pension. Sources123 | Resolution Life legacy superannuation products, including the separate former Super Retirement Fund section from 1 July 2026. Accelerator Personal Superannuation Plan Investment Linked Personal Superannuation products MultiFund Superannuation Bond Resolution Life MyLife Super Whole of Life and Endowment super policies Former Super Retirement Fund section Sources1234 |
| 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 | Menus vary by policy. Some are unit-linked investment accounts; others combine insurance, guarantees or bonuses. The product and investment option on the member statement are essential identifiers. Sources1234 |
| Insurance | Insurance is available under the SmartStart policy and guide. Sources123 | Insurance and whole-of-life features belong to specific policies. The label National Mutual Retirement Fund does not establish a member's cover, premium or surrender value. Sources1234 |
| Retirement income | SmartStart Pension has its own product documentation. Sources123 | Pension and super policies have their own withdrawal, payment and maturity rules. Annual and terminal bonuses should be distinguished; terminal bonuses may depend on the eventual claim or withdrawal. Sources1234 |
| 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 | Compare the actual policy and option. Do not average different contracts into one fund return. This is an explanatory profile for existing members, not a new-account recommendation. Sources1234 |
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
The legal fund name is a starting point, not enough detail for a switch decision. With older policies, the useful questions are what you own, which benefits would survive a transfer and what would be paid if you left today.
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 National Mutual 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.