NEWS: Super comparison tool updated

The YourSuper comparison tool helps individuals compare MySuper products and choose a super fund that meets their needs. 

It ranks the performance of these products by fees and net returns.

Each year, the Australian Prudential Regulation Authority ('APRA') assesses the performance of each MySuper product, and this information is displayed in the comparison tool.  Updated information for the 2022/23 year is now available.

The comparison tool provides one of the following results for each MySuper product:

-      Performing – the product has met or exceeded the performance test benchmark.

-      Underperforming – the product has not met the performance test benchmark.

-      Not assessed – the product had less than five years of performance history and has not been rated by APRA.

Individuals who are members of underperforming MySuper products will receive correspondence to notify them of the underperforming status.

Individuals can access a personalised version of the tool which allows them to view and compare their existing MySuper products by doing the following:

-      Log in to ATO online services through myGov.

-      Go to the 'Super' drop-down menu and select ‘Information’, then select ‘YourSuper comparison’.

To access a non-personalised version of the tool (without logging into myGov), visit ato.gov.au/yoursuper

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Accumulate Accountants + Business Advisors is a consulting firm located in Perth, Western Australia that provides a range of successful businesses with strategic business advice, accounting and taxation services.

www.accumulateperth.com

info@accumulateperth.com

(08) 9364 4204

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