January 5 2024

How to change super funds

Thinking about changing super funds? Here’s a simple guide to help you make the right decision for you and your future.
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How to know when changing super funds might be a good idea

Like your car insurance, health insurance or new tech, it’s often a good idea to do your research before deciding. Super is no different. It’s important that you choose a super fund that will help you achieve your financial goals and meet your needs.

It might be worth thinking about switching super funds if your fund:

  • Has been listed by APRA as an underperforming fund
  • Charges higher than average fees
  • Has an investment strategy that isn’t aligned to your values
  • Doesn’t have insurance options that suit your needs

There are many super funds out there – but they aren’t all equal. 

The Government’s YourSuper Comparison Tool could be a good starting point when comparing the super funds as it allows you to compare the annual fees and investment performance of funds' default superannuation products. 

YourSuper Comparison tool


things to consider when changing super funds

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1. Check the insurance with your current fund

Some super funds offer death, total and permanent disability (TPD) and/or income protection insurance cover through super. Before switching super funds, check the insurance benefits you have with your current fund. When you change, the insurance you have with that fund may be cancelled. So, it is important that you check if the new fund can offer you the insurance cover that’s right for you.

Here at Rest, we provide our members a number of insurance cover options through their super to help protect themselves and their loved ones financially if something was to happen. This includes:

  • Death cover
  • Total and permanent disability cover
  • Income protection 

Note: Please refer to the relevant Rest Super or Rest Corporate Insurance Guide for more information. Insurance is not available to Rest Pension members. 

2. What’s your super fund’s long-term performance?

The fund’s long-term performance and fees are both important things that can make a big difference to how much you’ll end up with in retirement.

The investment market naturally goes up and down, and that is why generally you should not make rash decisions based on just the short term performance when switching super funds. It’s important to consider the long-term past performance of super funds. While past performance alone is not a reliable indicator of future performance, generally funds with a history of competitive long-term investment performance would be preferred over funds with poor past performance.

When comparing funds’ long-term performance, you should review the net investment returns after the admin and investment fees have been deducted.

Here at Rest, we have four core investment beliefs that guide our investment decisions. Our Core Strategy default investment option has delivered %%CoreStrategyPa%% pa since we were founded in 1988*.

*Core Strategy returns are the compound average effective rate of net earnings since inception to %%CoreStrategyDate%%. Past performance is not an indicator of future performance.

long term performance long term performance

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3. Review the fees and compare them with other funds

All super funds have fees. These fees help to cover things like administration costs, investment costs and insurance costs.

Before switching funds, look at the fees you are being charged by your current fund and compare these fees with what you will be charged at your new fund.

As a profit-to-member super fund, here at Rest our fees are there to help us run the fund, not make a profit for shareholders.

Read more about Rest 

4. Check the investment options

The trustee of your super fund will invest your super in different investment markets using a range of asset classes and investment strategies, in accordance with the fund’s investment strategy.

There are different investment options within super funds. Some are riskier and some are more conservative. It is important that you choose an investment option that matches your goals, values, and life stage.

If sustainability is something you are conscious of, you might want to consider a sustainable investment option that takes into account additional and more specific environmental, social and governance factors as part of its investment process.

If this is something that you are interested in, you may want to learn more about our Sustainable Growth Option^.

^Please refer to the Investment Guide for more details. 

Learn more about Sustainable Growth

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5. Lastly, give your employer a heads up

When changing super funds, it is important you change your super details with your employer so your employer can pay super contributions into the new super fund.

To do this, your employer may ask you to complete a standard form. 


The Rest App allows you to check your employer contribution 24/7 through the app.

That way you can check if you are receiving the right amount of super.