APRA has revealed the 13 worst Superfunds MySuper products for 2021. The annual performance test was introduced with the “Your Future, Your Super” reform package. The reforms create an annual performance test for MySuper (default) SuperFund products with the goal of removing under performing funds.

The 13 Superfunds MySuper Products which performed worst are:

  • AMG Super (AMG Super)
  • ASGARD Independence Plan Division Two (ASGARD Super)
  • Retirement Wrap (BT Super)
  • Australian Catholic Superannuation and Retirement Fund (Catholic Super)
  • AvSuper (AvSuper)
  • Maritime Super (Maritime Super)
  • BOC Gases Superannuation Fund (BOC Super)
  • Christian Super (Christian Super)
  • Colonial First State FirstChoice Superannuation Trust (Colonial First State)
  • Commonwealth Bank Group Super (Commonwealth Bank)
  • The Victorian Independent Schools Superannuation Fund (VISSF)
  • Energy Industries Superannuation Scheme-Pool A (EIS Super)
  • Labour Union Co-Operative Retirement Fund (LUCFR Super)

The “Your Future, Your Super” initiative requires under performing funds to inform their members of their performance and inclusion in the under performing category.

If you are informed that you are in one of these under performing funds, it could be a good time to switch to a better performing fund. Note, the APRA performance test only applies to MySuper products within these SuperFunds. MySuper products are default funds, so if didn’t actively provide your super fund to your employer, you’re likely in a MySuper product. Not all MySuper products are bad, but if you’re in an under performing MySuper product, it’s a good idea to investigate the details and compare your funds performance and benefits to other superfunds in the market.