Superannuation funds are a cornerstone of retirement planning in Australia, managing trillions of dollars in savings. Below are Australia’s 15 largest super funds by assets as of 2025, offering insight into their size, member base, and standout features.
The 15 largest super funds, ordered by their assets, are:
- AustralianSuper
- Australian Retirement Trust
- Commonwealth Super Corporation
- Insignia
- Aware Super
- Mercer
- UniSuper
- QSuper
- HostPlus
- AMP
- Colonial First State
- BT
- MLC
- CBUS
- HESTA
Largest super funds in 2025
Below are the profiles of the fifteen largest super funds in Australia. These funds manage billions of dollars in retirement savings on behalf of millions of Australians.
1. AustralianSuper
Assets: $360.1 billion
Members: 3,422,250
AustralianSuper is the country’s largest and one of the most trusted industry funds. It serves workers across numerous sectors, including healthcare, construction, education, and retail. Known for its competitive fees and consistent long-term investment performance, it offers a wide range of investment options, including a top-performing Balanced fund. Members benefit from strong advocacy and governance, and the fund is a leader in responsible investment practices.
2. Australian Retirement Trust (ART)
Assets: $310.2 billion
Members: 2,491,213
ART was formed by the merger of Sunsuper and QSuper and is one of the most diversified funds in the country. It supports workers in government, education, health, and transport sectors, offering strong MySuper options, tailored insurance, and innovative retirement products. ART is also one of the top performers in ESG integration, particularly around climate risk management.
3. Commonwealth Super Corporation (CSC)
Assets: $304.6 billion
Members: 697,164
CSC administers super schemes for Australian Government employees and the military, including PSS and MilitarySuper. Unlike many other funds, CSC offers defined benefit plans and generous employer contributions. It’s a strong choice for public servants, offering unique entitlements and specialist financial planning services for federal careers.
4. Insignia Financial (formerly IOOF)
Assets: $191.6 billion
Members: 1,570,825
Insignia offers superannuation and wealth solutions through a wide range of retail and employer-sponsored products. While not an industry fund, it appeals to Australians who want integrated wealth management, especially those working with financial advisers. The fund is known for its platform flexibility and broad investment menus.
5. Aware Super
Assets: $183.1 billion
Members: 1,224,303
Aware Super is a major industry fund serving health, education, and public sector workers. It has been a leader in impact investing, particularly in housing and renewable energy. Aware stands out for its strong insurance offering, competitive long-term returns, and a socially conscious investment approach.
6. Mercer Super
Assets: $146.2 billion
Members: 1,180,997
Mercer is a global consulting and asset management firm that offers corporate superannuation solutions in Australia. Its fund is known for offering tailored employer plans, actuarial support, and advanced investment analytics. With an emphasis on personalised service, Mercer is popular with medium-to-large businesses.
7. UniSuper
Assets: $143.1 billion
Members: 680,495
UniSuper serves those in the higher education and research sectors. Its history of defined benefit offerings and strong default investment options make it especially appealing to university staff. The fund has excellent long-term performance, low fees, and strong support for sustainable investing.
8. QSuper
Assets: $136.1 billion
Members: 618,859
Now part of ART, QSuper still retains a distinct identity within the larger trust. Known for innovative insurance models and low fees, QSuper has historically catered to Queensland Government employees. It offers competitive lifecycle investment strategies and is often ranked among top-performing funds for pre-retirees.
9. HostPlus
Assets: $118.7 billion
Members: 1,861,500
Originally for hospitality and tourism workers, HostPlus is now open to all Australians. Its Balanced option has consistently ranked as one of the top performers. HostPlus attracts younger members due to its low fees, simple investment choices, and strong net returns. It also offers indexed and socially responsible investment options.
10. AMP Superannuation
Assets: $115.8 billion
Members: 864,168
AMP is one of Australia’s oldest financial institutions, offering super through retail platforms and employer plans. It provides broad investment flexibility, access to financial advice, and insurance options. While AMP has faced scrutiny in recent years, it remains a major player in private wealth and super.
11. Colonial First State (CFS)
Assets: $115.7 billion
Members: 782,788
CFS is a major retail super provider known for its FirstWrap platform, offering high flexibility and tailored investment solutions through advisers. It’s popular among self-directed investors who value platform access and choice. CFS also offers competitive pension products and retirement tools.
12. BT Super (Westpac Group)
Assets: $98.7 billion
Members: 876,902
BT is part of the Westpac group and offers superannuation and investment solutions across employer and personal plans. Known for its tech-driven platforms like Panorama, BT is suited to those who value digital access, adviser integration, and custom investment strategies.
13. MLC Super
Assets: $95.6 billion
Members: 1,203,295
Owned by Insignia, MLC offers superannuation and pension services through adviser networks and direct platforms. It’s popular for employer super plans and high-net-worth individuals seeking custom investment solutions. MLC has a broad investment menu and strong insurance options.
14. CBUS Super
Assets: $95.4 billion
Members: 924,408
Cbus serves the construction, building, and allied sectors. It’s unique in directly investing in construction and infrastructure projects that employ its members. Cbus offers solid long-term returns, ethical investing options, and tailored services for blue-collar workers.
15. HESTA
Assets: $88.6 billion
Members: 1,075,663
HESTA is the industry fund for health and community services. It’s especially known for supporting women and part-time workers, who make up much of its membership. HESTA excels in ESG leadership, advocacy, and offering strong default options with responsible investment as a core focus.
Data sourced and adapted from APRA's Annual Fund-level Superannuation Statistics, licensed under the Creative Commons Attribution 3.0 Australia Licence.
