Plum Super Review (2026) — NAB's Workplace Super Fund
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
Plum Super is the workplace superannuation product operated by National Australia Bank (NAB) for its business banking clients and their employees. It is a retail super fund primarily used in employer workplace super arrangements.
Key Facts
| Feature | Detail |
|---|---|
| Fund type | Retail (workplace super) |
| Operator | NAB / MLC Super (recently aligned with Insignia) |
| Target market | Employees of NAB business banking clients |
| Website | plum.com.au |
Products
- Plum Super — the main employer/employee super product
- Investment-linked offerings within employer plan structures
Fees
Plum Super has a retail fee structure including:
- Administration fee (dollar-based)
- Investment management fees (vary by option)
- Possible employer plan administration fees
Exact fees depend on the employer plan arrangement. Check the Plum Super PDS or your employer plan terms for current fee information.
Investment Options
Plum Super offers multiple investment options:
- MySuper / Balanced (default)
- Conservative
- Growth
- High Growth
- Cash
- Sustainable options
Insurance
Plum Super provides group insurance — death, TPD, and income protection. Default cover amounts depend on the employer’s plan design.
APRA Performance Test
Plum Super’s performance is subject to the APRA Annual Performance Test. Members in Plum Super should check the YourSuper tool for current performance data relative to comparable products.
Who Plum Suits
- Employees whose employer uses Plum Super as their workplace fund
- Members who have existing Plum Super accounts from previous employers
Note: Just because your employer defaults to Plum does not mean you must stay. Super choice allows you to direct your SG to any complying fund.
Frequently Asked Questions
Is Plum Super open to individuals or only employer members? Plum Super is primarily a workplace super product — it is set up through employer corporate plans, usually for companies that have a banking or business relationship with NAB. Individual membership is possible through some Plum products, but the fund’s features and pricing are optimised for workplace arrangements. If your employer offers Plum as its default fund, you would typically be enrolled automatically unless you exercise super choice.
Is Plum Super affiliated with MLC? Plum Super is a NAB product, and NAB also owned MLC Wealth (sold to Insignia Financial in 2021). Plum operates through the MLC Super Fund trustee, so there is a structural relationship between Plum and MLC at the trustee level — but they are marketed and administered as separate products. Check your member statement to confirm the exact fund and product name.
Has Plum Super passed the APRA performance test? Check the ATO’s YourSuper tool (ato.gov.au/yoursuper) for the current performance test result for your specific Plum product. Given Plum operates through the MLC Super Fund, the test result is at the product level. Products with underperformance are flagged clearly on YourSuper.
Are there ongoing adviser fees in my Plum account? Plum accounts set up through an employer may have had adviser service fees historically. Following post-Royal Commission reforms, ongoing adviser fees require explicit member consent. If you have a Plum account and are unsure whether adviser fees are deducting, check your annual statement or log in to your member portal. Remove any fees for advisers not actively serving you.
Can I switch from Plum Super to an industry fund? Yes — you can roll your Plum balance to any complying super fund. You can initiate this via myGov (ATO → Super → Transfer super) or by contacting your new fund. Before rolling, check your insurance cover in Plum — group insurance for workplace plans can be significant and cancels on rollout. See How to Switch Super Funds.
What investment options does Plum offer? Plum offers a standard menu of managed investment options including growth, balanced, conservative, and cash options. Specific investment options vary by employer arrangement and product version. Some Plum products also offer a socially responsible investment option. For a broader investment menu (direct shares, ETFs, broader managed funds), retail wrap platforms or industry funds with a member direct option may be more suitable.
For advice on Plum Super, speak with a licensed financial adviser via MoneySmart. For more: Super Fund Comparison Table, MLC Super Review.