How super works and choosing a fund

Find out how super works and get information about comparing and choosing a super fund.

How super works

Most people are eligible for super. Your employer has to pay a minimum amount of money into a super fund for you. This is called a superannuation guarantee.

You can access the money when you reach retirement age and have retired, or if you leave Australia permanently.

Find out if you’re eligible for super and estimate how much your employer should pay. These links will take you away from myGov.

Choosing a super fund

You can usually choose which super fund your employer pays your super to. You can do this when you start a job, or change super funds at any time.

Your employer will tell you how to record your super fund.

You can do this on ATO online services through myGov by following these steps:

  1. Sign in to myGov and select Australian Taxation Office.
  2. Select Employment then New employment.
  3. Complete the form and select Super details.

Find out about creating a myGov account, linking to the ATO and choosing a super fund. Some of these links will take you away from myGov.

If you don't choose a super fund

Your employer will pay your super, even if you don’t choose a super fund. Your employer will pay your super contributions into either:

  • your existing super fund, which is called a stapled super fund
  • their default super fund.

Find out more about stapled super funds on the ATO website.

Comparing super funds

You may want to compare super funds to find the right one for you. You could consider:

  • the fund’s investment performance
  • fees they charge
  • what type of insurance they provide
  • what investment options they offer.

Find out more about what to consider when you’re choosing a super fund on the Moneysmart website.

You can also compare some super funds in your ATO online services through myGov. The YourSuper comparison tool has information on fees, net returns and annual performance for all MySuper products.

Follow these steps to find the YourSuper comparison tool:

  1. Sign in to myGov and select Australian Taxation Office.
  2. Select Super, then Information and YourSuper comparison.
  3. From here you can compare MySuper products.

If you don’t have a myGov account, find out more about creating a myGov account and linking your ATO online services.

Page last updated: 18 January 2024