Report: Member Super Switching in 2024 & 2025

A key feature of Australia’s super system is the ability of almost all members to choose which fund invests their super savings. This is intended to promote healthy competition among funds to deliver strong returns, low costs and good service – which SMC strongly supports.  

Each year, in the normal course of events, around 5% of members (or more than 1 million Australians) switch funds, including when they change employment and at key life stages when they might seek out advice. Good professional financial advice in a member’s best interests can be very valuable, making a material difference to a person’s retirement circumstances – and give them greater peace of mind.   

However new analysis – the first of its type – should ring alarm bells on early warning signs of an emerging new pattern of consumer risk.