Tap into your inner investor and take control of your investments with our self-managed investment option.
What is Member Direct?
The Member Direct investment option offers you more control and choice over the investment of your super. Through the Member Direct investment option you can invest in shares in the S&P/ASX 300 index and selected Exchange Traded Funds (ETFs), Listed Investment Companies (LICs), Term Deposits and cash through an easy-to-use online platform.
You also get access to real-time trading, market information, independent research and investment tools to help you make informed investment decisions and manage your portfolio. Member Direct investment option suits members who want to be actively involved in managing their investments.
How does it work?
You make your own strategy by investing in your choice of:
- shares in the S&P/ASX 300 Index
- Exchange Traded Funds (ETFs)
- Listed Investment Companies (LICs)
- term deposits
To invest you will need to open a Cash account, which works like an online bank account and earns a competitive interest rate on the cash that is held in the account.
You transfer money from your other AustralianSuper investment options into the Cash account, and then use this money to invest. You can also do the reverse and transfer money from the Cash account into AustralianSuper's other investment options.
Eligibility criteria apply before you can invest in the Member Direct investment option and there are important conditions you must comply with when you invest in the option. Refer to the Member Direct investment option guide for more information.
Features
Control and flexibility
You can tailor your investment strategy by combining shares, ETFs, LICs, term deposits and cash with investments in AustralianSuper's other investment options.
Less paperwork
AustralianSuper takes care of all the administration, compliance and reporting requirements, so you don’t have to.
Lower costs
There aren’t any set-up costs and ongoing fees are lower compared to average operating costs for Self-Managed Super Funds1.
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Guides, forms and fact sheets (4)
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Fees and costs
The table below sets out the fees and costs that apply to each level of access within Member Direct.
LEVEL OF ACCESS ASSETS YOU CAN INVEST IN Portfolio Administration fee Brokerage fee Cash Account Cash $30 p.a. Nil Term Deposits Cash and Term Deposits $70 p.a. Nil Shares, ETFs & LICs Cash and Term Deposits and S&P/ASX 300 shares, ETFs and LICs $150 p.a. If you buy and sell shares, ETFs or LICs, Brokerage fees will apply.
Refer to Brokerage fees below.
Portfolio administration fee
Your Portfolio administration fee is deducted directly from your Member Direct Cash account in arrears on the first business day of the following month based on the number of days in the month.
It is determined by the level of access you select and not by the type of assets you hold. If you no longer hold the core asset type, you can reduce this fee by selecting a different level of access via the Member Direct online platform.
Brokerage fees
When buying and selling shares, ETFs or LICs, Brokerage fees will apply on each transaction as follows:
Transaction amount (or part thereof) BROKERAGE FEE (INCL GST LESS RITC) First $12,500 $10 Next $37,500 0.08% Balance over $50,000 0.04% Brokerage fees including Goods and Services Tax (GST) are deducted directly from your Member Direct Cash account when the corresponding transaction is settled.
AustralianSuper claims a Reduced Input Tax Credit (RITC) of 75% on the GST component and passes the benefit on to you in the form of a credit to your account when the corresponding transaction is settled (reflected in the amounts in the table above).
Each component of Brokerage (fee excluding GST), GST and RITC is rounded to the nearest two decimal places.
For any orders that are not fully executed on the same trading day, normal Brokerage fees will apply on each transaction amount executed per trading day.
Term Deposit costs
If Term Deposits are redeemed prior to their maturity date, the effective rate of interest will be reduced depending on the time invested as follows:
TIME INVESTED (% OF TOTAL TERM)
INTEREST RATE REDUTION
0 to 50
50%
>50
20%
Other fees and costs
If you hold ETFs and LICs, underlying fees and costs will be charged by the product issuer. Refer to the issuer’s website and relevant disclosure documents for the latest fee and cost information.
You will also pay administration fees and costs for your account with AustralianSuper and fees and costs for PreMixed or DIY Mix investment options managed by AustralianSuper.
The Member Direct investment option is not available in TTR Income accounts.
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Interest rates for Cash account and term deposits
Cash account
The interest rate for the Member Direct Cash account before any tax that may be applicable is shown below.
Effective from 18 March 2026 4.85% pa Cash account interest net of any applicable tax is accrued daily and credited directly to your Member Direct Cash account monthly in arrears, on the first business day of the following month.
Term deposits
The interest rates for term deposits currently available within the AustralianSuper Member Direct investment option are shown below. Please note that these rates are gross of any tax that may be applicable.
Interest rates current as at 27 March 2026:Term deposit INTEREST RATE (%PA) Duration ME Bank National Australia Bank 90 Days 4.50 4.85 180 Days 4.90 5.00 365 Days 4.95 5.00 Interest on term deposits is accrued daily and credited directly to your Member Direct Cash account at the date of maturity.
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Seamless Transfer to Choice Income
A Seamless Transfer allows you to transfer your Member Direct investments from your super account to a new Choice Income account without needing to sell down and re-purchase your investments. This means that you avoid Term Deposit costs and Brokerage fees, and do not trigger a capital gains tax (CGT) event on any share, ETF or LIC transfers.
- ATO self managed super funds statistical report - the latest copy is available at www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/in-detail/statistics/annual-reports
- Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd. Some personal advice may attract a fee, which would be outlined before any work is completed and is subject to your agreement. With your approval, the fee for advice relating to your AustralianSuper account may be deducted from your AustralianSuper account subject to eligibility criteria.