Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
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.
Retail investment platform
Super Simplifier is an adviser-access super and pension account with direct investments and no MySuper default.
The PDS requires an authorised financial adviser to be nominated on the application.
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 | Challenger Retirement Fund | DASH Super Simplifier |
|---|---|---|
| Membership and access | The provider confirms all products in this fund are closed to new members. Existing holders should use the documents for their particular contract. Sources123 | The PDS requires an authorised financial adviser to be nominated on the application. Sources12 |
| Accounts and products | 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 | Personal Super, Transition to Retirement Pension and Standard Account-Based Pension. Sources12 |
| Investment choices | 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 | The menu includes ASX300 securities, ETFs, managed funds and term deposits. Eligible investments can be transferred in or out without selling, subject to the product's rules. Sources12 |
| Insurance | Term Life is a separate insurance product in the fund. Holding a pension does not mean a member has that insurance. Sources123 | Eligible personal super members can apply for life and terminal illness, total and permanent disablement, and income protection cover through MetLife. Sources12 |
| Retirement income | 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 | Account-based and transition-to-retirement pensions are available, with payment limits appropriate to each account. Sources12 |
| Comparing investment performance | 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 | Returns depend on the chosen portfolio and cash holding. There is no MySuper option to use as a universal benchmark. Sources12 |
| Advice and support | This detail has not been verified for this profile. Check the current product documents. | The authorised adviser helps build the investment strategy and can give instructions for the account. Sources12 |
| Fee details to check | This detail has not been verified for this profile. Check the current product documents. | Include platform fees, underlying investments, trading, cash-account margin and adviser charges. Check the cash interest calculation in the current disclosure. Sources12 |
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.
THE SUPERGURU VIEW
For members who want an adviser to implement a specific portfolio inside super.
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 Challenger Retirement Fund profile · Read the full DASH Super Simplifier 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.