Moving from your fund’s default MySuper option to a choice investment option — either within the same fund or at a different fund — is straightforward. Before switching, it’s worth understanding what you’re changing and why.
Why People Switch From MySuper
The most common reasons members move from a MySuper default to a choice option:
- Index (passive) investing: Want to invest in low-cost index funds instead of actively managed options
- Ethical/ESG investing: Prefer a portfolio with environmental or social screens
- More growth exposure: Default balanced option is too conservative for their time horizon
- More defensive exposure: Approaching retirement and want lower volatility
- Sector exposure: Want Australian shares, international shares, or infrastructure as separate allocations
How to Switch Within the Same Fund
Most large funds allow you to change your investment option online:
- Log in to your fund’s online portal or app
- Go to “Investments” or “Investment options”
- Select the option(s) you want
- Confirm the switch
The change typically applies to:
- Future contributions: Usually changes immediately
- Existing balance: May take 1–5 business days depending on the fund’s redemption and purchase cycle
Some switches (particularly into or out of illiquid options) may have longer processing times.
What to Consider Before Switching
1. Does the choice option suit your time horizon?
A MySuper default balanced option (~70% growth) suits most accumulation-phase members. If you’re moving to a more aggressive option (high-growth, 100% equities), ensure you’re comfortable with potentially larger short-term losses.
2. Are the fees lower or higher?
Choice options within the same fund may have different investment fees. Indexed options are typically cheaper than actively managed ones. Compare the investment fee or indirect cost ratio (ICR) for the option you’re considering.
3. Does insurance stay the same?
If you’re switching investment options within the same fund, your insurance cover is unaffected. Insurance only changes when you move to a different fund.
4. Can you handle more complexity?
Some choice options require periodic rebalancing or attention — for example, if you hold a mix of separate sector options, you may need to periodically adjust the mix. A single balanced or growth option is lower maintenance.
How to Switch to a Different Fund Entirely
If you want a choice product at a different fund:
- Choose your new fund
- Submit the Standard Choice of Fund form (ATO form NAT 13080) to your employer (if still employed) — or roll your balance directly via myGov
- Roll over your existing balance to the new fund (check insurance first)
- Notify your employer to direct future SG to the new fund
See Super Rollover Guide.
Popular Choice Options Within Major Funds
| Fund | Notable choice options |
|---|---|
| AustralianSuper | High Growth, Indexed Diversified, Australian Shares, International Shares, Sustainable Balanced |
| Hostplus | Indexed Balanced, Australian Shares, International Shares, Socially Responsible Investing |
| Aware Super | High Growth, Sustainable High Growth, Indexed Growth, Fixed Income |
| Australian Retirement Trust | Super Savings - Lifecycle Balanced Pool, Index (various), Diversified Bonds |
| Vanguard Super | MySuper Lifecycle, High Growth, Growth, Balanced, Conservative (all indexed) |
Frequently Asked Questions
Can I hold multiple investment options within one fund? Yes — most funds allow you to split your balance and future contributions across multiple options. For example, 70% in Balanced and 30% in Indexed Australian Shares.
Does switching affect my existing balance or just future contributions? Most funds apply the switch to both your existing balance and future contributions, unless you specify otherwise.
Is there a switching fee? Most MySuper and choice options no longer charge switching fees — exit fees were prohibited from 2019. However, some older products may retain switching fees; check your PDS.
For more: MySuper, Investment Options in Super, Indexed Super Funds, How to Choose a Super Fund. For advice on which option suits you, speak with a licensed financial adviser via MoneySmart.