Canstar's 2026 Superannuation Awards

Canstar releases its
2026 Superannuation Awards.

Released: 5 March, 2026

Congratulations to the Award winners

(Winners are listed alphabetically)

AMP

Outstanding Value – Superannuation Award

AMP Super has secured Canstar’s 2026 Outstanding Value Award for Superannuation. The fund’s MySuper lifecycle product stands out by managing investments in a tailored option based on  the member’s age. This keeps members in higher-growth assets for longer before shifting toward defensive options near retirement. Performance for members has been strong, with MySuper 1980s investment option returning 10.98% last year. Beyond returns, Canstar Research calls out its market-leading digital advice and comprehensive tools for members including their retirement simulator and insurance calculator.

Australian Retirement Trust

Outstanding Value – Superannuation Award

Formed from the 2022 merger of Sunsuper and QSuper, Australian Retirement Trust has secured its second consecutive Outstanding Value Award for Superannuation. The fund’s MySuper lifecycle product was celebrated for its strong investment performance and low administration fees. Australian Retirement Trust also adjusts its offering based on a member’s age to help protect their savings as they approach retirement,  automatically managing risk by shifting members from high-growth options into balanced and cash allocations once they turn 51.

AustralianSuper

Outstanding Value – Superannuation Award

Australia’s largest super fund by both members and assets, AustralianSuper, has retained its Outstanding Value Award for a 15th consecutive year. Its default MySuper Balanced option continues to perform strongly against the market by maintaining a consistent risk allocation throughout a member’s life, achieving strong returns right up until retirement. Beyond investment returns, Canstar Research said the fund provides comprehensive support services and competitively priced insurance, including default Death and TPD cover.

Aware Super

Outstanding Value – Superannuation Award

Aware Super is one of four funds to retain its Outstanding Value Award for Superannuation in 2026, marking its 5th consecutive year as a recipient. This success is driven by the historically strong seven-year investment performance of its MySuper lifecycle product. In addition to robust online features, Aware Super provides some of the industry’s most comprehensive tailored insurance options across Death, TPD, and Income Protection cover.

Hostplus

Outstanding Value – Superannuation Award

Hostplus has retained its Outstanding Value Award for the 9th consecutive year, with its Balanced MySuper option continuing to deliver high annualised net returns. Historically, this option has achieved some of the strongest performance for members of all ages, including those approaching retirement. For members seeking more control, Hostplus offers extensive investment flexibility, including pre-mixed options and listed securities, supported by a high level of advice services. 

Mercer Superannuation

Outstanding Value – Superannuation Award

New award winner Mercer Super uses a lifecycle structure that groups members by birth year. As you age, Mercer automatically shifts your money into defensive assets to reduce risk as retirement nears. The fund’s value is underpinned by some of the lowest administration fees on the market and improved investment performance in 2025. Mercer also offers extensive investment flexibility, including listed securities, alongside a wide range of advice services to help members manage their holdings.

About this year’s awards

“Performance remains the key driver of our 2026 Superannuation Star Ratings and Awards. The winning providers are those that consistently outperform the market while delivering high net benefits to their members. This means achieving strong investment returns while keeping fees and insurance costs competitive across various age groups and account balances. Ultimately, these funds have distinguished themselves by providing outstanding value to Australian consumers.”

What this award is and isn’t

Our Superannuation Award is designed to help you narrow your search for a fund that delivers in the areas that matter most to super members preparing for their retirement. We’ve dived into the detail to find the providers that consistently perform for their members.

What this award is:

• A measure of ‘net benefit’: We don’t just look at high returns in isolation. We calculate what’s actually left in your pocket after administration fees and default insurance premiums are taken out.
• A long-term track record: While some funds might show strong returns one year, our winners must show consistent performance over a seven-year period.
• A nod to helpful features: Performance is the priority, but we also reward funds that offer high-quality insurance, digital tools, and accessible financial advice for members.
• A level playing field: We compare both retail (for-profit) and industry (for-member) funds across 25 different consumer profiles based on age and account balance.

What this award isn’t:

• A crystal ball: Past performance is a helpful guide to a fund’s track record, but it is not a guarantee of what you’ll earn in the future.
• Personal financial advice: Our ratings are based on general consumer profiles. They don’t take your specific goals, tax situation, or health needs into account.
• A list of every fund in Australia: While we look at the majority of the market, some smaller funds or those restricted to certain employers aren’t eligible to be assessed.
• The only thing you should look at: An award is a great starting point, but you consider your own circumstances and should still read the Product Disclosure Statement (PDS) before switching.

How we assessed value

When considering what makes a superannuation provider outstanding, we look beyond just a single year of investment growth and consider seven years of its track record. While past performance does not guarantee future results, this method paints a picture of a provider’s ability to deliver consistent returns through their portfolio management. 

Investment returns are great, but they lose their value if they are eroded by excessive costs. When fees are deducted directly from a member’s balance, they can take a big chunk out of a member’s retirement savings long-term. In order to provide a realistic comparison between funds, we calculate net investment returns after subtracting administration fees and default insurance costs.

Strong returns can look impressive on their own, but what matters most is how a fund performs compared to others. Our assessment achieves this by benchmarking funds against the broader market to find those that truly outperform their peers. 

While financial performance is the priority, an award-winning super provider should also offer robust support and protection. Our Outstanding Value calculation takes a holistic, member-focused view by evaluating:

• Insurance and Advice: Quality cover (Death, TPD, and Income Protection) and accessible financial advice to navigate retirement planning.

• Digital and Service Features: The user experience, including mobile apps, online calculators, seamless onboarding, and responsive customer service.

By balancing market-leading net returns with comprehensive features, we highlight the providers delivering outstanding value for their members.

Who we looked at

 A super product must meet these specific standards to be eligible for our award:

• Publicly available: Open to the general public, not restricted to specific organisations or closed to new members.
• Direct access: Available to consumers without needing a financial planner.
• No ‘wrap only’ products: Wrap-only products are a platform that ‘wraps’ various investments—shares, ETFs, managed funds, and cash—into super account for tax purposes.These often require a broker and carry extra fees.
• Performance history: At least seven years of data is required for a full Star Rating (we give products with three to six years of data an indicative rating).
• Fund size: The provider must manage at least $100 million in combined super and pension assets.

We consider each fund’s default investment option. Where no default option is offered, we assess their balanced option. If no balanced option is available, we consider the option with the highest funds under management (FUM).

After determining eligibility, we assessed 40 superannuation providers, from both retail (for profit) and industry (for members) funds, evaluating 125 individual investment products.

What to keep in mind when comparing super funds

Superannuation is likely one of the biggest investments you’ll ever own, but because it’s ‘locked away’ until retirement, it’s easy to set and forget. However, small differences in fees and performance now can lead to a gap of hundreds of thousands of dollars by the time you stop working. 

When you’re considering funds, keep these key factors on your radar: 

Net returns (Performance): The net return is what’s left after fees and taxes are taken out. While past performance isn’t a guarantee of future results, looking at a fund’s track record over five or 10 years can give you an idea of how consistently it manages its investments. 

Fees: Super fees are usually charged monthly as a dollar amount, a percentage, or a mix of both. You may also be charged when you switch investments. Lower fees can help your balance grow faster. 

Investment options: Most super funds offer a range of investment options. These typically include: 

• Growth
• Balanced
• Conservative
• Cash
• Ethical
• MySuper (government-designed default option intended to be simple and cost-effective)

Depending on your fund, you may also be able to invest in different types of assets or choose from a list of direct shares and ETFs. 

Insurance: Most funds automatically provide life, TPD (total and permanent disability), and sometimes income protection insurance. When comparing insurance with super funds, check: 

• The premium rates
• The amount of cover
• Exclusions or definitions that might affect you
• Whether insurance is automatically included when you join
• That you’re not paying for cover you don’t want

Getting insurance through a super fund can be cheaper than buying it elsewhere, but keep in mind that the premiums are deducted from your super balance.

Does Canstar rate other products?

About Canstar

Canstar also has insights and information about financial products and services generally. You can find out about topics such as: interest rates, buy now pay later (BNPL), business products and tax. You may also be interested in discovering more about calculators and resources, such as our rate checker and free credit score tool, to help you with your financial decision-making.

About: Tom Pownall, Research Analyst

Bachelor of Business (Finance), QUT

Tom Pownall is a Research Analyst within Canstar’s research team, where he contributes to the development and delivery of Star Ratings and Awards. With a major in Finance, and minors in Economics and Accounting, Tom brings a results-driven approach to his work, combining analytical skills and a passion for financial markets and products.

Since joining Canstar in 2024, Tom has applied his education, training, and background to contribute to the evaluation and comparison of financial products in areas such as International Share Trading, ETFs, and Superannuation. He is committed to enhancing methodologies that drive Canstar’s Star Ratings and Awards, striving to ensure results are of a meticulously high standard, with the ultimate goal of empowering consumers to confidently find the right product
from them.

Tom’s dedication to continuous learning and innovation keeps him at the forefront of product trends and updates, while building on his technical skills in SQL, Python, and data analytics.

You can follow Tom on LinkedIn, and Canstar on X and Facebook.