Mercer Super Review (2026) — Fees, Performance, and Key Features
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
Mercer Super is the Australian superannuation fund operated by Mercer, a global HR and employee benefits consulting firm. Mercer Super positions itself as an industry-style fund with a focus on corporate employers and their employees.
Key Facts
| Feature | Detail |
|---|---|
| Fund type | Industry-style (profit-to-members) |
| Open to | Open to all, with strong corporate employer focus |
| Regulator | APRA-regulated |
| Website | mercersuper.com.au |
Fees
Mercer Super’s fees are in the mid-range for Australian super funds:
- Administration fee: Dollar-based fee
- Investment management fees: Vary by option
Mercer has taken steps to reduce fees following the APRA Performance Test. Check the current PDS for exact figures.
Investment Options
Mercer Super offers:
- MySuper option (default Balanced Growth)
- Conservative
- Moderate
- Balanced Growth
- High Growth
- Shares
- Fixed interest / Cash
- Sustainable Plus (ESG)
- Heritage options for legacy corporate plans
APRA Performance Test
Mercer Super passed the APRA Annual Performance Test in recent years. Performance data is available on the ATO’s YourSuper comparison tool.
Who Mercer Super Suits
- Employees of organisations that have a corporate super arrangement with Mercer
- Members who want an industry-style fund with a responsible investment focus
- Members whose employers use Mercer for HR and benefits consulting, where super is part of the package
For most Australians, comparing Mercer’s fees and performance against major industry funds via the YourSuper tool before joining is advisable.
Frequently Asked Questions
Is Mercer Super an industry fund or a retail fund? Mercer Super positions itself as an industry-style, profit-to-members fund — meaning it does not pay dividends to external shareholders. This is different from traditional retail funds (owned by banks or insurers), but also different from member-governed industry funds (owned by employee and employer groups). Mercer is owned by Marsh McLennan (a global professional services company), and its super fund operates under a charitable trustee structure. In practice, fees and performance are what matter most for members.
Has Mercer Super passed the APRA performance test? Mercer Super has passed the APRA annual performance test in recent years following steps to reduce fees and improve investment performance. Check the ATO’s YourSuper comparison tool (ato.gov.au/yoursuper) for the current year’s results on your specific Mercer product — results are published annually after the end of the financial year.
What responsible investment options does Mercer Super offer? Mercer has a long history in responsible investment consulting and offers ESG-integrated investment options within its super product, including a Sustainable Plus option. The fund’s responsible investment approach incorporates ESG analysis into many of its mainstream options as well as dedicated sustainable portfolios. For members who want ESG investing, Mercer’s sustainable options are worth comparing against dedicated ethical funds.
Can any Australian join Mercer Super? Mercer Super is open to all Australians, not just employees of corporate clients. You can join as an individual member. However, many of Mercer’s features and pricing advantages apply through employer corporate plans — individual members may not get the same fee discounts as corporate plan members.
How does Mercer Super compare on fees to large industry funds? Mercer’s fees are generally in the mid-range — lower than many retail funds but potentially higher than the cheapest large industry funds (e.g., Hostplus index options). The total cost ratio at a $50,000 balance should be available in the current Mercer PDS and on the ATO YourSuper tool. Use these to compare directly with AustralianSuper, Hostplus, and Australian Retirement Trust before deciding.
What is Mercer’s ownership structure and does it affect member outcomes? Mercer is a subsidiary of Marsh McLennan (NYSE: MMC), a global professional services firm. Mercer Super operates under a trustee structure designed to act in members’ best financial interests. While Mercer as a company is for-profit, the super fund trustee’s obligations are to members under the SIS Act. The relationship between Mercer’s consulting business and its super fund (Mercer being both an investment consultant and a super fund operator) means members should be aware that Mercer may use its own investment strategies and products within the fund.
Past performance is not a reliable indicator of future performance. For advice on Mercer Super, speak with a licensed financial adviser via MoneySmart. For more: Super Fund Comparison Table.
Who Mercer Super Suits
- Employees of organisations that use Mercer for their workplace super arrangements
- Members who want access to global investment expertise combined with an industry-style fund structure
Past performance is not a reliable indicator of future performance. For advice on whether Mercer suits your situation, speak with a licensed financial adviser via MoneySmart. For more: Super Fund Comparison Table.