Superannuation
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What is a superannuation default fund?
It’s the super fund that an employer will pay their employees’ superannuation contributions into if they’re not advised of another super fund by the employee (and/or by the ATO if an employee commences with the employer on or after 1 November 2021).
Employees can choose to be set up with their employer’s default fund or choose another fund. If the employee doesn’t provide details of their choice of fund or have any existing ‘stapled’ super fund account, then they’ll be set up with their employer’s default super fund. A stapled super fund is an existing super account which is linked, or ‘stapled’, to an individual employee so that it follows them as they change jobs.
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Why AustralianSuper?
As Australia’s largest super fund1, we are entrusted with the retirement savings of one in seven working Australians2.
We’re a profit-for-member fund. We don’t pay profits or dividends to shareholders, so the money we make goes back into the fund for the benefit of members.
This means you benefit from:
- our history of strong long-term performance3
- access to a global investment portfolio, and
- a range of insurance options4.
1 APRA Quarterly superannuation fund level statistics December 2024. Released March 2025.
2 Australian Bureau of Statistics (Labour force) and AustralianSuper Member Data, December 2024.
3 AustralianSuper Balanced investment option compared to the SuperRatings Fund Crediting rate Survey – SR50 Balanced (60-76) Index to 31 December 2024. Investment returns aren’t guaranteed. Past performance isn’t a reliable indicator of future returns.
4 AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450, AFSL 237848. -
Do all employees have to change funds?
Your super fund is your choice. There’s no obligation for you to change to your employer’s default fund. You should make an informed decision on which fund you’d like to choose.
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Can I choose to stay with my current fund?
Of course. Simply follow your employer’s instructions if you choose to do this. -
If I chose my super fund when I joined my employer, can I change to AustralianSuper?
Absolutely. Simply complete the Superannuation standard choice form and return it to your employer.
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Is there anything I need to consider if I close my account with my other fund and transfer the balance to AustralianSuper?
Yes, it’s a good idea to contact your other fund to check if there’s any fees and charges, or information about the effect closing your account may have on your benefits, such as insurance cover with your other fund. If you wish to claim a tax deduction for personal super contributions, you must lodge a notice of intent to claim a tax deduction with your other fund before you transfer your balance. We recommend you consider seeking financial advice. -
Once I have an AustralianSuper account, will the balance from the previous default fund automatically transfer to AustralianSuper?
It won’t happen automatically, but combining your super accounts takes just a few simple steps. Before combining your super, ask your other super fund about any fees or charges that may apply, and other information about how this transfer may affect your benefits, such as insurance cover with your other fund6.
To learn more about combining or finding any lost super, visit australiansuper.com/consolidate
6 Before combining your super, ask your other super fund about any fees or charges that may apply, and other information about how this transfer may affect your benefits, such as insurance cover. We recommend you consider seeking financial advice.
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How long does it take to combine my super funds into my AustralianSuper account?
Rolling over your funds from your previous super fund account(s) to your new AustralianSuper account takes approximately three business days to complete, providing that all your details are correct. -
Where can I learn more about super beneficiaries?
Go to Learn about your super beneficiaries to have all your questions answered about your beneficiary options and how to let us know where you want your super to go.
Insurance
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Will I automatically get insurance cover?
Insurance cover will automatically commence once you’re eligible. You’re eligible for basic cover if you’re 25 or older; and your super balance reaches $6,000; and you’ve received an employer super contribution after you meet both age and balance requirements (other conditions apply).
Please refer to the Insurance in your super guide for important information about insurance, including your eligibility for cover, how much you can apply for, when it starts and stops, active employment, limited cover and exclusions, insurance options and insurance transfers.
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I’ve decided to combine my other super accounts into AustralianSuper. What does this mean for insurance?
It’s important to know that combining (consolidating) your super doesn’t automatically transfer any insurance cover you have to AustralianSuper. You can apply to transfer any existing Death, Total & Permanent Disablement (TPD) or Income Protection cover from your other super fund to AustralianSuper.
If you want to transfer your insurance cover, you should wait until you’ve received written confirmation from us that your transfer of insurance is accepted, before consolidating your super.
Read the Applying for an insurance transfer fact sheet for more information.
AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450, AFSL 237848.
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If I decide to move to AustralianSuper from my previous default fund, when does my insurance cover generally start?
You can either:
- apply for insurance cover immediately, or
- receive automatic basic cover (if you’re eligible) when you’re 25 or older; have a super balance of $6,000; and you've received an employer super contribution after you meet both age and balance requirements.
You can also apply to start your basic cover earlier without providing detailed health information for the Insurer to consider, within 120 days of the date on your welcome letter (terms and conditions apply).
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What is my individual work rating and how does it impact my insurance costs?
A work rating classifies the usual activities of your job into one of three ratings: Blue Collar, White Collar or Professional. Your individual work rating is one factor that determines how much you pay for your insurance cover.
When you join AustralianSuper and have insurance cover, you’re automatically provided with the default Blue Collar rating5. Cover with a Blue Collar work rating is the most expensive.
However, you could pay less for your cover if you’re eligible for a White Collar or Professional work rating and your application to change your individual work rating is accepted. Check if you’re eligible for a different work rating using the Work Rating Tool.
To find out more about insurance through your super, read the Insurance in your super guide.
5 Due to past employer arrangements, some members may have a default work rating of White Collar or Professional. GHD Superannuation Plan members automatically receive a White Collar individual work rating.
Financial journey
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How does AustralianSuper’s investment performance compare to other funds?
Visit the AustralianSuper website to learn more about our investment performance and how it compares to other super funds.
You can use the Super AppleCheck comparison tool, which is free to use and provided by superannuation research firm Chant West. This tool helps you to compare us with other funds on an ‘apples-to-apples’ basis, that covers investments, fees, insurance and member services.
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Will my balance and contributions be allocated to the same investment option as the previous default fund?
All super funds offer different investment options, and you can choose which investment option(s) your super is invested in. If you don’t make an investment option choice, your new AustralianSuper account will be automatically set up in the ‘MySuper’ authorised Balanced option, which invests in a wide range of assets, including shares, private equity, infrastructure, property, fixed interest, credit and cash, and designed to have medium to long-term growth with possible short-term fluctuations.
You have alternative PreMixed, DIY Mix or Member Direct investment options to choose from. Visit australiansuper.com/investments to learn more.
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Where can I find financial advice options?
Everyone's financial journey is unique, so we're here to help create the future you want with financial advice that's right for you.
Accessing your account
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Does AustralianSuper offer online account access or an app?
Yes. Once you’re a member, you can set up online access to your account and download the AustralianSuper app in a few simple steps, to manage your super, anywhere, anytime. To set up your online access, visit australiansuper.com/register. You’ll need your member number and email address. Once you’ve set up your online access, visit australiansuper.com/mobile to download the app for free.
When you log in to the app for the first time, you’ll need your AustralianSuper account login details. You can then follow the prompts to set up a four-digit PIN or face recognition for future logins.
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How do I reset my member online account password?
You can reset your password through an online portal. Click the below reset my password link to take you through to the portal.