Most people can choose which super fund they'd like their super contributions paid into. 

Your employer will give you a 'standard choice form' when you start a new job. This sets out your options. You can go with your existing fund, your employer's fund, or choose a different fund.

What to look for in a super fund

When you're comparing super funds, weigh up fund performance and the fees you'll pay against other factors such as risk, investment returns, services and insurance.

Performance

Compare your fund's investment performance over at least five years. Consider the impact of fees and costs.

Compare like with like. For example, only compare a balanced option with another balanced option, and try to use the same time frame.

Low fees

All super funds charge fees. Fees are either a dollar amount or a percentage, or both. Either way, generally the lower the fees, the better. Fees are usually deducted monthly and after an action such as switching investments.

Insurance

Super funds typically have three types of insurance for members:

• life (also known as death cover)
• total and permanent disability (TPD)
• income protection

When comparing the default insurance offered by super funds, look for:

• the premium rates
• the amount of cover
• any exclusions or definitions that might affect you

Insurance through super has more information.

Investment options

Most super funds let you choose from a range of investment options.

Options usually include:

• growth
• balanced
• conservative
• cash
• ethical
• MySuper

Some funds will let you choose the weighting of different asset types or direct investments.

Services

Super funds may offer other services which attract special fees. These can be things like financial advice or arranging to split your super following a separation.

Compare super funds

You can find out about and compare super funds by using:

• the ATO's YourSuper comparison tool, an online list comparing MySuper products
• the product disclosure statement (PDS) for each product offered by a fund
• super comparison websites offered by private companies

What to do if your super fund is underperforming

Your super fund must let you know if it has performed badly under an annual performance test done by the Australian Prudential Regulation Authority (APRA).

To help you decide about switching funds and which product to switch to, you can compare the features listed above. Or use the ATO'sYourSuper comparison tool if you have a MySuper product.

Comparison websites

Non-government super comparison websites include:

• Canstar
• Chant West
• Morningstar
• RateCity
• SelectingSuper
• SuperRatings

All of these have some information for free. Some of them also offer more detailed information for a fee.

Don't choose a super fund based only on its rating on one of these websites.

Compare these features:

Once you have the information you need, use our super calculator to compare how different funds will work for you.

If you don't choose a super fund

If you don't choose your own super fund, your employer must check with the ATO to see if you have an existing super fund. This is known as a 'stapled super fund'.

If you don't have an existing fund (for example if it's your first job) your super will be paid into a 'default' super product chosen by your employer. This is known as a MySuper product.