Industry fund
Aware Super
Aware Super uses a Lifecycle default in its Future Saver account and offers retirement income accounts, investment choice and several levels of advice.
THE OVERVIEW
About Aware Super
Aware Super began as First State Super for NSW government employees and later opened to the public. Its history includes Health Super, VicSuper and WA Super. Former public-sector and employer arrangements can carry terms that differ from the main public product.
Sources1
Who can join
Public membership is available. Some former scheme members, including defined-benefit and employer groups, need the documents for their own plan.
THE SUPERGURU VIEW
Our take
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.
Who might put it on their shortlist
- People who prefer an age-based default and want access to advice.
- Members planning a gradual transition into retirement.
- Former public-sector members who need help checking retained scheme or insurance terms.
What deserves a closer look
- The default investment path is based on age rather than a complete view of your finances.
- Police, Ambulance and legacy defined-benefit terms must be checked separately.
- Transferring insurance requires acceptance. Aware says not to cancel existing cover until it confirms acceptance and the new start date.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE NUMBERS
Fees and investment returns
Use the product, investment option and employer plan on your statement. Lifecycle members need to choose the relevant stage. APRA's investment pathways may include closed options held by existing members.
Choose an investment option to see the figures
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.
A CLOSER LOOK
Inside Aware Super
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
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.
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.
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.
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.
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.
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
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.
THE LEGAL FUND
Fund size in APRA's annual reporting
Aware Super
At 30 June 2025. These are legal-fund totals, which can include several products and more than one account per person.
APRA annual fund-level statistics, June 2025. These older totals can differ substantially after mergers. Size is not a measure of suitability or investment quality.
Sources for Aware Super
Checked 2026-09-11. Documents and product terms can change after this date.
- Aware background and membership
- MySuper Lifecycle
- Investment choice approaching retirement
- Retirement Income account
- Aware insurance
- Insurance for special employer groups
- Transferring insurance
- Advice and guidance
- First State Super: name and account history
- StatePlus: name and account history
- TelstraSuper: name and account history