Federal Member for Wannon Dan Tehan has joined Shadow Minister for Financial Services Pat Conaghan in encouraging Australians to treat the recent release of APRA’s 2025 superannuation performance test results like an annual health check for their retirement savings.
Superannuation savings now total more than $4 trillion nationally. For many younger Australians, super will be the single biggest asset they ever own – often worth more than their home. That makes the annual performance test results an important moment to check whether your fund is on track.
The annual performance test – created under the Coalition’s Your Future, Your Super reforms in 2021 – compares each fund’s fees and investment returns against objective benchmarks. It shines a light on underperforming products and holds funds accountable for their performance.
In 2025, APRA assessed 563 superannuation products, including:
• All 52 MySuper products passed (none failed in 2024).
• All 374 non-platform trustee-directed products passed (none failed in 2024).
• 7 of 137 platform trustee-directed products failed (down from 37 in 2024).
The annual APRA data provides more details to assist consumers in comparing fund performance. To check how your fund’s performance compares visit the APRA website: https://www.apra.gov.au/superannuation-product-performance
Federal Member for Dan Tehan encouraged locals to check how their own fund is performing.
“Super is the nest egg for your retirement. For many locals, it will be the biggest financial asset they’ll ever hold. That’s why these results are so important – they give every Australian a chance to do a quick ‘health check’ on their fund and make sure their savings are on track.
“Even a small difference in performance adds up. For example, a 30-year-old nurse in Warrnambool earning around $70,000 a year could retire with around $100,000 more if their fund performs just 1% better per year compared to a worse-performing fund. That’s money Australians simply can’t afford to miss out on,” Mr Tehan said.
Shadow Minister for Financial Services Pat Conaghan said the results showed the Coalition’s reforms were working and warned Labor against weakening them.
“This is exactly why the Coalition introduced the performance test in 2021 – to protect Australians from dud funds and help ensure they retire with more, not less,” Mr Conaghan said.
“Like a regular check-up, the performance test has forced funds to lift their game. But passing the test isn’t the end of the story – Australians should still check whether their fund is really working for them. The system only works if it stays strong. It must never be watered down for political pet projects. Super is your money, and it must always be managed in your best financial interests.”
ENDS
Contact: Sandie Gustus M | 0408 564 232 E | sandie.gustus@aph.gov.au
