Worst Super Funds

Registered Superannuation Entity MySuper Product
AMG SuperAMG MySuper
ASGARD Independence Plan Division TwoASGARD Employee MySuper
Australian Catholic Superannuation and Retirement FundLifetimeOne
AvSuper FundAvSuper Growth (MySuper)
BOC Gases Superannuation FundBOC MySuper
Christian SuperMy Ethical Super
Colonial First State FirstChoice Superannuation TrustFirstChoice Employer Super
Commonwealth Bank Group SuperAccumulate Plus Balanced
Energy Industries Superannuation Scheme-Pool ABalanced (MySuper)
Labour Union Co-Operative Retirement Fund (LUCRF) MySuper Balanced
Retirement WrapBT Super MySuper
The Victorian Independent Schools Superannuation Fund VISSF Balanced Option (MySuper Product)

*This data has been sourced from APRA’s “Your Future, Your Super Performance Test“, published on 31 August 2021.

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Underperforming Super Funds

This table outlines the super fund products that have failed APRA’s performance test.
The performance test is undertaken as part of the Government’s “Your Future Your Super” (YFYS) reforms, which came into effect on July 1 2021.

Super Performance Test

Under these reforms, Super Funds are required to undergo an annual performance test for their MySuper products called The MySuper Performance Test. The purpose of this test is to hold super providers to account if they fail to achieve certain performance benchmarks, by increasing transparency and consequences for funds who do not meet these benchmarks.

The MySuper Performance Test Outcomes for August 2021 were based on an assessment of 80 MySuper Products, with 13 (included in this table) failing the test.

These funds represent approximately 6% of the funds included in the assessment, with approximately 1 million members invested in these products.

What Happens To These Under Performing Super Funds?

APRA expects funds to immediately identify the cause of under performance and implement a plan to address this.
They must also, Assess the implications of failing the test on the sustainability of their operations and;
Develop a contingency plan to close the product, transfer members to another fund and or exit the industry.

What To Do If You're In An Under Performing Super Fund?

If your fund has failed the performance test, you should at least check to see what their plan is to address this under performance.
It might also be time to look at other options in the market. Check out the Best Super Funds. For a more in depth analysis, check out individual funds under the ‘fund profiles’ tab, where you can see performance and fees for individual investment options, insurance ratings and more.
If you need some help or further guidance on your super then you should speak to a financial advisor by filling out the ‘Speak To An Advisor’ form at the top of this page.

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