Not all Australian super funds are the same. Knowing which type yours is helps explain its fees, who it serves, and what to expect when you look up its details.
Industry funds
Originally set up for workers in specific industries (Cbus for construction, HESTA for health and community services, REST for retail), industry funds are profit-for-member funds — profits are returned to members rather than paid to shareholders. Many of Australia's largest funds, including AustralianSuper and Australian Retirement Trust, started as industry funds and are now open to anyone, regardless of occupation.
Retail funds
Run by banks and financial institutions — AMP, BT, Westpac and similar — retail funds are for-profit products. They were historically more expensive than industry funds, though competition has narrowed that gap considerably in recent years.
Public sector funds
Set up for government employees, such as GESB in Western Australia, RBF in Tasmania, or Australian Retirement Trust's QSuper division in Queensland. Many include legacy defined benefit components — where your final benefit is calculated by a formula rather than investment returns — for members who joined before a certain date.
Corporate funds
Set up by individual employers for their own staff. These are increasingly rare, since most companies now default new employees into a standard industry or retail fund rather than running a dedicated scheme. Many older corporate funds still listed on this site, such as company-specific Mercer Super Trust plans, fall into this category.
Self-managed super funds (SMSFs)
Run by their own members rather than a third-party trustee, giving full control over investments along with full responsibility for compliance. SMSFs are identified by their ABN rather than a USI — read more about why SMSFs don't have a USI.
MySuper products
Not a separate fund type, but a government-mandated default investment option that funds must offer. If you don't actively choose your own super fund or investment option, your contributions go into your employer's default MySuper product — a simple, low-cost option designed for people who haven't made an active choice.
To find out which type your own fund is and look up its identifiers, find your superannuation fund here.
