MySuper Dashboard Guide — How to Read Your Fund's MySuper Dashboard
This article provides general information only and does not constitute financial advice. For advice tailored to your situation, consult a licensed financial adviser. Learn more.
Contents
Every fund offering a MySuper product must publish an annual product dashboard — a standardised summary of key information about the product. Dashboards must be displayed prominently on the fund’s website and updated each year.
What Is a MySuper Dashboard?
The MySuper dashboard is a regulated disclosure document, not a marketing document. Its format is standardised by law — funds cannot cherry-pick which metrics to show or how to display them. This makes dashboards useful for comparing different MySuper products on a like-for-like basis.
What a MySuper Dashboard Must Include
1. Return target
The product’s return target — typically expressed as a CPI+ figure (e.g., “CPI + 3.5% per annum over 10 years”). This is the fund’s own stated investment objective for the option.
2. Comparison of return target to returns achieved
A chart showing the actual net return achieved over the past 1, 3, 5, and 10 years versus the return target. This shows whether the fund is meeting its own stated objective.
3. Level of investment risk
A Standard Risk Measure (SRM) rating from 1 (very low) to 7 (very high), showing the expected number of negative annual returns in a 20-year period:
| SRM band | Risk label | Expected negative years in 20 |
|---|---|---|
| 1 | Very low | Less than 0.5 |
| 2 | Low | 0.5 to less than 1 |
| 3 | Low to medium | 1 to less than 2 |
| 4 | Medium | 2 to less than 3 |
| 5 | Medium to high | 3 to less than 4 |
| 6 | High | 4 to less than 6 |
| 7 | Very high | 6 or more |
4. Fees and costs summary
- Administration fee ($ per year)
- Investment fee (% per year)
- Total of fees and costs (combined)
Presented for a representative $50,000 balance, allowing direct comparison between funds.
5. Liquidity
Whether the member can withdraw money or switch options and how quickly this can occur (all standard MySuper options must be liquid).
6. Whether the product is a lifecycle product
If yes, how the asset allocation changes with age must also be disclosed.
How to Find Your Fund’s Dashboard
- Go to your fund’s website
- Search for “MySuper dashboard”, “product dashboard”, or “investment options”
- Dashboards are typically found in the “investments” or “tools and resources” section
Alternatively, APRA publishes aggregate fund data at apra.gov.au and the ATO’s YourSuper comparison tool allows comparison of key dashboard metrics across all MySuper products.
What to Look For When Comparing Dashboards
| Metric | What to look for |
|---|---|
| 10-year net return | Higher is better, net of fees |
| Return target vs achieved | Is the fund meeting its own goals? |
| SRM | Higher = more volatility; typically medium to high for growth/balanced options |
| Total fees on $50k | Lower is generally better; under 1% p.a. is competitive |
| Administration fee structure | Fixed dollar fee vs % fee matters at different balance levels |
Limitations of Dashboards
- Dashboards show historical returns — past performance is not a reliable indicator of future performance
- The return target is set by the fund — there’s no standard methodology for setting targets, so comparisons between targets are imperfect
- Dashboards cover the whole product but some members within a lifecycle fund may be in different age bands
Frequently Asked Questions
Are there dashboards for non-MySuper (choice) options? Not the standardised MySuper dashboard format. However, APRA requires funds to publish a choice product dashboard for trustee-directed products. These are less standardised but contain similar metrics.
Can I use the dashboard to decide whether to switch funds? Dashboards are a useful starting point — particularly for comparing fees and historical returns. But they should be considered alongside insurance, fund services, and your personal circumstances.
How often is the MySuper product dashboard updated? Dashboards must be updated annually. Funds are required to publish updated dashboards within a set timeframe after the end of each financial year. If you’re looking at a dashboard, check the “as at” date — data more than 12 months old may not reflect the fund’s current performance or fee structure.
What does “CPI + 3.5% per annum” mean as a return target? The return target is expressed as a real return above inflation. CPI (Consumer Price Index) measures inflation, so “CPI + 3.5% per annum” means the fund aims to deliver 3.5% above the inflation rate over the long term. If inflation is running at 3%, the fund is targeting a nominal return of approximately 6.5%. This framing is common in superannuation as it expresses the fund’s goal in terms of real (inflation-adjusted) purchasing power growth.
What does Standard Risk Measure (SRM) 6 (High) actually mean in practice? SRM 6 (“High”) means the fund expects between 4 and 6 negative annual return years in any 20-year period — roughly once every 3–5 years on average. This is typical for growth-oriented investment options with high equity exposure. A negative year doesn’t mean your balance drops to zero — it means returns for that year are negative, which may translate to a 5–20% balance reduction depending on market conditions. Most super balances recover within a few years following such events.
Can a fund change its return target on the dashboard? Yes — funds set their own return targets, and these can be changed by the trustee. However, any material change must be disclosed and communicated to members. Return targets are aspirational investment objectives, not guaranteed outcomes. Changing a target doesn’t change past performance, so a fund that has consistently missed its target will still show that gap on the dashboard even after revising the target downward.
What should I do if the dashboard shows the fund hasn’t met its return target for several years? This is a significant signal. A fund consistently missing its own stated objective suggests either the target is unrealistic or the investment performance has been weak. Cross-check with the APRA performance test result — if the fund has also failed the APRA test, that’s a strong warning sign. The ATO’s YourSuper tool allows you to compare your fund against others and see performance test outcomes.
Are all the fees on the dashboard the same as the fees in the PDS? The dashboard shows a summary of key fees (administration and investment fees at a representative $50,000 balance), but it is not exhaustive. The PDS contains the full fee disclosure including indirect costs, buy/sell spreads, performance fees, and other charges that may not appear in the dashboard summary. For a complete picture of costs, always refer to the PDS and the fund’s fee disclosure document. See How to Read a Super PDS.
For more: MySuper, How to Read a Super PDS, Best Performing Super Funds, APRA Heatmap. For advice on comparing funds, speak with a licensed financial adviser via MoneySmart.