Do you know how your super is performing?

Do you know how your super fund performed over the last two years?

Many Australians don’t. MLC research has found 45% of members could not estimate their super fund's performance over the previous two years, and 42% said they do not know what their super funds invests in at all. *

Those findings point to a bigger issue. Many people are working towards building their financial future without really understanding how one of their most important assets works for them, and potentially without having any real plan for how their superannuation will work for them in their  retirement.

That's not really surprising, as many people perceive superannuation as the retirement asset that it should run quietly in the background while we’re busy with careers, families and everything else that life throws at us.

But when you’re not sure what’s happening behind your balance, it’s harder to know whether you’re on track, whether your current approach reflects your goals, or what opportunities might be available to help you make the most of what you’ve built so far.

Your super isn't sitting in an account, it's invested

Super is invested by a fund on your behalf across a mix of assets, with those investments working to grow your balance over time. Those include:

• Shares. Ownership in Australian and international publicly listed companies. Their value can rise and fall, sometimes substantially over short periods, but shares can provide capital growth over the long-term.
• Property and infrastructure. Real assets like office buildings, shopping centres, airports and energy networks. They can produce income and don't always behave in the same way as share markets, helping diversify investment holdings.
• Fixed interest and bonds. Lending to governments and companies in return for interest. They can provide regular income and be steadier than shares, although returns and risk vary depending on the investment.
• Cash. Generally the most stable and lowest-risk investment type. It can provide stability and faster access to money, but typically offers lower longer-term return potential

The investment option you choose determines the mix of assets held in your super based on your risk appetite.

Most super funds offer options from conservative to high growth. If you’re young, a growth option with a higher exposure to growth assets like shares could offer higher returns over time – but it also comes with higher risk. As retirement nears, you might want to consider a more conservative approach with more defensive assets, like bonds for example, to protect your savings.

If you've never made a choice, you're probably in your fund's default option, which is designed to suit a broad membership.

It’s worth knowing whether the mix you're in matches your circumstances and goals, including how far you are from retirement. Not sure where to start? Our investing guide breaks down the basics of investment options and asset classes.

Why performance alone is not a true comparison

If you're thinking about how your super compares, returns are often where people start.

The trouble is that a return figure means nothing without context:

• What it's being compared to. Growth and conservative options invest differently and with different levels of risk. Compare like with like, or the comparison may not be genuine.
• The comparison period. A single year can be heavily influenced by short-term market conditions. Super is measured in decades, so five-, seven-, and ten-year returns tell you far more about whether a fund is consistently doing its job, albeit not a predictor of future performance.
• Fees and tax. Published returns should reflect investment fees, costs and tax, but administration fees may be charged separately from your balance. Two funds quoting the same return can leave you in meaningfully different places once all fees are accounted for.

Then there are the things that returns can't show you at all. For example, what insurance is attached to your account and what it's costing you, whether the fund offers guidance, tools and advice, or simply sends a statement once a year. Another consideration may be the level of support available when you need it.

When comparing funds, it's worth looking at the full picture, including performance, fees, investment options, retirement support and member benefits.

What today’s decisions mean tomorrow

To understand how your super stacks up, start here:

1. Find your investment option. It's on your annual statement and in your online account.
2. Look at what's in it. Your fund publishes the asset allocation (shares, cash etc) for each investment option.
3. Check the long-term return for that option. Focus on five- and ten-year returns, not just last year, and compare them with equivalent options.
4. Understand the total cost. Add together administration fees, investment fees, and insurance premiums as an annual dollar figure.

Comparing super is about working out which option will perform best for you. Before you jump in, it’s worth understanding what's behind the numbers, so you can make decisions based on more than a headline return.

Knowing where you stand is the first step

A super balance tells you where you are today. Understanding how your super is invested, how it compares and whether it's aligned with your goals helps show whether you're heading in the right direction.

Let’s get in touch

Getting expert help is all part of being with Plum. As a service to our members, our team of Financial Coaches provide general advice related to your super, at no additional cost.

If you are a member with us, book your appointment with a Financial Coach today.

*Research source: MLC Brand Health Tracker April to June Quarterly Report – Hall and Partners – July 2026.

Disclaimer

This article has been prepared by NULIS Nominees (Australia) Limited ABN 80 008 515 633 AFSL 236465 (NULIS) as trustee of the MLC Super Fund ABN 70 732 426 024. Plum is part of the MLC Super Fund. NULIS is part of the Insignia Financial group of companies comprising Insignia Financial Ltd ABN 49 100 103 722 and its related bodies corporate (‘Insignia Financial Group’). This information may constitute general advice. The information in this article is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider obtaining independent advice before making any financial decisions based on this information. It is recommended that you consider the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) before you make any decisions about your superannuation. You can obtain the latest copy of the PDS (or other disclosure documents) and TMD by calling us on 1300 55 7586 or by searching for the applicable product at plum.com.au. You should not rely on this article to determine your personal tax obligations. Please consult a registered tax agent for this purpose. Opinions constitute our judgement at the time of issue. The case study examples (if any) provided in this article have been included for illustrative purposes only and should not be relied upon for decision making. Subject to terms implied by law and which cannot be excluded, neither NULIS nor any member of the Insignia Financial Group accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in the information in this communication.

The Financial Coaches provide financial advice under the Australian Financial Services licence (AFSL) of Actuate Alliance Services Pty Ltd ABN 40 083 233 925 AFSL 240 959 (Actuate). NULIS Nominees (Australia) Limited ABN 80 008 515 633, AFSL 236465 (NULIS) is the trustee of MLC Super Fund ABN 70 732 426 024 (Fund). Actuate and NULIS are both companies within Insignia Financial Group which comprises Insignia Financial Ltd ABN 49 100 103 722 and its related bodies corporate (Insignia Financial Group). No other entity within Insignia Financial Group, including NULIS or any other entity within the Insignia Financial Group that is a trustee for a regulated superannuation fund, is liable for or responsible for any work, action or advice provided by Actuate. For important information about Actuate’s services which you should know before making a booking, please refer to Actuate’s Website Disclosure Information