The Largest Super Funds in Australia
Data as at 30 June 2026. Source released 9 September 2026. APRA release schedule checked 27 October 2026.
AustralianSuper is Australia’s largest super fund in this comparison, with 3.83 million member accounts and $449.63 billion in total fund investments at 30 June 2026. Australian Retirement Trust is second on both measures.
Below, you can compare the 20 largest super funds by member accounts and investments. Size is useful background when comparing funds, but fees, investment options, insurance and service also matter.
Top 20 largest super funds by member accounts
APRA counts member accounts. Because one person can have more than one super account, these figures do not represent unique Australians. They cover the whole reporting fund, including accounts outside its MySuper product.
| Rank | Fund | Member accounts |
|---|---|---|
| 1 | AustralianSuper | 3,826,960 |
| 2 | Australian Retirement Trust | 2,436,160 |
| 3 | Rest (Retail Employees Superannuation Trust) | 2,172,660 |
| 4 | Hostplus | 1,986,830 |
| 5 | Aware Super | 1,349,700 |
| 6 | HESTA | 1,095,640 |
| 7 | Mercer Super Trust | 1,018,320 |
| 8 | Cbus | 935,140 |
| 9 | UniSuper | 726,500 |
| 10 | CareSuper | 634,560 |
| 11 | MLC Super Fund | 625,940 |
| 12 | Colonial First State FirstChoice Superannuation Trust | 611,140 |
| 13 | AMP Super Fund | 563,330 |
| 14 | Brighter Super Fund | 382,390 |
| 15 | Retirement Portfolio Service | 358,650 |
| 16 | Smart Future Trust | 304,260 |
| 17 | IOOF Portfolio Service Superannuation Fund | 283,610 |
| 18 | OneSuper | 281,860 |
| 19 | Wealth Personal Superannuation and Pension Fund | 259,810 |
| 20 | ASGARD Independence Plan Division Two | 231,030 |
Source: APRA, Quarterly Superannuation Fund Statistics, June 2026, Table 1, “Total number of member accounts at the end of period”.
Top 20 largest super funds by assets
The asset ranking uses APRA’s total fund investments, shown in billions of Australian dollars. This measure comes from Table 4 of APRA’s quarterly fund-level statistics. It differs from total assets, member assets and members’ benefits, so it may not match the assets under management (AUM) figure a fund publishes on its website.
| Rank | Fund | Total fund investments (A$ billion) |
|---|---|---|
| 1 | AustralianSuper | $449.63 |
| 2 | Australian Retirement Trust | $380.18 |
| 3 | Aware Super | $252.43 |
| 4 | UniSuper | $178.20 |
| 5 | Hostplus | $162.90 |
| 6 | Colonial First State FirstChoice Superannuation Trust | $116.18 |
| 7 | Cbus | $115.30 |
| 8 | Rest (Retail Employees Superannuation Trust) | $113.48 |
| 9 | HESTA | $110.58 |
| 10 | MLC Super Fund | $97.10 |
| 11 | ASGARD Independence Plan Division Two | $84.91 |
| 12 | Mercer Super Trust | $84.50 |
| 13 | IOOF Portfolio Service Superannuation Fund | $80.35 |
| 14 | Wealth Personal Superannuation and Pension Fund | $75.62 |
| 15 | CareSuper | $66.50 |
| 16 | AMP Super Fund | $63.56 |
| 17 | HUB24 Super Fund | $62.07 |
| 18 | Macquarie Superannuation Plan | $51.96 |
| 19 | Retirement Portfolio Service | $41.89 |
| 20 | Netwealth Superannuation Master Fund | $41.83 |
Source: APRA, Quarterly Superannuation Fund Statistics, June 2026, Table 4, “Total Fund Investments”. Figures rounded to two decimal places after ranking.
How these rankings are calculated
Both tables use figures at 30 June 2026, ranked from largest to smallest. Each row represents a reporting fund identified by its ABN. Separate funds owned by the same parent company are listed separately.
The tables cover funds in APRA’s quarterly fund-level publication, which reports on APRA-regulated funds with more than six members. They exclude SMSFs and do not cover every retirement scheme in Australia. Some funds have membership restrictions.
We use APRA’s fund names, with familiar names for Rest, Hostplus, Cbus and UniSuper. Some funds have legal names that differ from the names of their products. Fund names link to our profiles where available, or to the fund’s official website. Some links cover an individual product within a fund; the figures in these tables still relate to the whole reporting fund.
APRA reports total fund investments in millions of dollars. We divide these figures by 1,000 to show billions and round to two decimal places after ranking. The asset table uses APRA’s reported investment total, not its separate members’ benefits measure.
Rankings can change because of mergers, transfers, investment returns and money moving into or out of a fund. APRA may also revise earlier figures.
Download the APRA quarterly fund-level statistics.
Does a larger super fund mean a better super fund?
Fund size is best treated as a neutral factor when comparing super funds. Being large or small does not, on its own, make a fund better or worse. The fees you pay, the performance and suitability of your investment option, your insurance and the service you receive are more useful things to compare.
A larger fund may be able to spread running costs across more members and negotiate lower investment costs. That can help keep fees down, but it is worth checking the fees for your account rather than assuming a bigger fund will be cheaper.
Serving a large membership can also make it harder to deliver timely customer support and personal advice to everyone who needs it, particularly if staffing and services do not keep pace with growth. This is a potential challenge, not a rule: service quality depends on how the fund is run and the resources it puts into supporting members.
Use fund size as background information. When choosing a fund, focus on the costs, investment options, insurance, customer service and access to advice that suit your needs.
What to compare beyond size
- Investment performance: Compare options with similar investment strategies and risk levels over consistent periods. Consider longer-term results where available, and check whether reported returns include the same fees and taxes. Past performance does not reliably predict future returns.
- Fees and costs: Compare administration and investment costs for your balance and chosen option, including any fixed fees.
- Investment choices: Check whether the available options suit your time horizon and willingness to accept investment risk.
- Insurance: Review cover, premiums, exclusions and eligibility. Check the consequences for existing cover before switching.
- Service and retirement features: Consider the support, advice access, pension features and online tools you expect to use.
Explore our super fund comparisons and individual fund reviews. Check the relevant Product Disclosure Statement and Target Market Determination before making a decision.
Thinking about switching? Read our guide to changing super funds for the steps to take and what to check before moving your balance.
Frequently asked questions
Which is Australia’s largest super fund?
AustralianSuper is the largest fund in this comparison by both member accounts and total fund investments at 30 June 2026. APRA reports 3,826,960 accounts and approximately $449.63 billion in total fund investments.
Which super fund has the most members?
AustralianSuper has the most member accounts in this dataset. Account totals should not be read as a count of unique people.
Why are the membership and asset rankings different?
A fund with fewer members can still manage more money if its members have larger balances. That is why the order of funds differs between the two tables.
When will these rankings next be updated?
The next update is planned after APRA publishes its September 2026 quarterly fund-level statistics, currently scheduled for December 2026. These rankings currently use data as at 30 June 2026.
General information only. Consider your circumstances and the relevant product documents before acting. Past performance is not a reliable indicator of future performance.
Source data: Australian Prudential Regulation Authority (APRA), used under the Creative Commons Attribution 3.0 Australia licence. APRA does not endorse this article.
About the author
Tom Foreman
Financial adviser and editor of Review My Super
Tom has worked as a financial adviser since 2013, primarily advising on retirement planning and superannuation.