How is Superhero Super different from an SMSF?

Superhero Super operates as an APRA-regulated retail super fund, where your retirement funds, taxation and administration are managed by Superhero on your behalf, whereas with a self-managed super fund this responsibility sits with you and other members of your self-managed super fund. Self-managed super funds provide you with direct control over where your super is invested, but there are additional costs and administration requirements.

For example, a member of Superhero Super on 15 May 2024 with a balance of $50,000 – half of which in the Growth option and the other half held in Direct Investments – would have annual fees of just $356.50 plus any brokerage fees or transaction costs incurred through buying and selling investments throughout the year as well as any management fees for ETFs or LICs held as Direct Investments.

Superhero Super offers some of the flexibility of an SMSF but doesn’t offer the same pool of investments available. You should consider your personal circumstances before investing or making a decision and if unsure seek help from a professional.

Superhero Super allows you to invest up to 75% of your super in Direct Investment options including ASX 300 shares, and a select range of ETFs, LICs and Hybrids without the need for an SMSF. You can find the full list of available investment options and holding limits in our Direct Investment Menu and Direct Investment Guide.

If you already have an SMSF, you can set up a Superhero account to invest with your SMSF with Superhero. You can do this by logging into your individual Superhero account, going to your Profile and clicking ‘Add New Account’.