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Types of Superannuation Funds

Updated: Oct 9, 2019


There are five basic types of funds:

- Industry funds: These funds are sometimes open to everyone. Otherwise, you can join if you work in a particular industry or under a particular industrial award and your employer signs up with the fund.

- Retail funds: These funds are run by financial institutions and are open to everyone.

- Public sector funds: These funds are generally open to Commonwealth, state and territory government employees. Public sector employers may offer defined benefit funds and constitutionally protected funds (CPFs) to their members.

- Corporate funds: These funds are generally only open to people working for a particular employer or corporation. They may offer defined benefit funds to their members.

- Self-managed super funds (SMSFs): SMSFs work like any other super fund, but the responsibility of managing them, including their investment decisions and legal responsibilities) rests solely with the trustee (you). Establishing and operating an SMSF is a major financial decision and you should first discuss your personal circumstances with a qualified professional.

Reference: ATO website


Disclaimer: The contents of this information is general in nature and we accept no responsibility for persons acting on the information provided.

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