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AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria.It is an industry super fund, and so operates through a mutual fund structure.. With over A$ 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world.
Legalsuper is an Australian superannuation fund dedicated to the legal community. It is the only industry superannuation fund for Australia's legal profession. Its MySuper default account is called MySuper Balanced option. As an industry super fund, legalsuper is managed exclusively for the benefit of its members.
Australia: Superannuation in Australia – Private, and compulsory, individual retirement contribution system. Social Security – Public pensions; Austria – Pensions in Austria; Canada: Canada Pension Plan; Old Age Security; Quebec Pension Plan; Registered retirement savings plan; Saskatchewan Pension Plan; Finland – Kansaneläkelaitos
Funds that do not operate as default funds, such as self managed superannuation funds (SMSFs) or choice products, are not subject to MySuper standards. Since 1 January 2014, unless an employee has chosen another investment option, employers must pay all compulsory SG contributions into approved MySuper accounts, i.e., into super products that ...
From 1 July 2005, choice of fund rules came into effect, giving most Australian employees the option to choose the fund into which their employers paid their superannuation contributions. [ 9 ] [ 10 ] In practice, over 75% of workers remained with their employer’s default fund, which was usually an industry fund.
There are about 500 superannuation funds operating in Australia. Of those, 362 have assets totalling greater than $50 million. Superannuation assets totalled $2.7 trillion at the end of the June 2018 quarter, a new record according to the Association of Superannuation Funds of Australia. [58] There are different types of superannuation funds:
MTAA Super (Motor Trades Association of Australia Superannuation Fund) is an industry superannuation fund established to serve the motor trades and allied industries. Created in 1989, it has become one of Australia's largest super funds.
TelstraSuper is an Australian superannuation fund headquartered in Melbourne, Victoria. Originally established in 1994 for Telstra employees, TelstraSuper opened its membership to the public in 2022. It’s Australia’s largest corporate superannuation fund with over $23 billion in assets invested on behalf of members.