SMSF vs industry super: how to use a calculator to decide

The internet is full of opinion about whether an SMSF beats an industry super fund. The honest answer is that it depends on your balance, the fees you currently pay, and how active you want to be with investments. This guide walks you through the four numbers that actually matter and how to use the easySMSF calculator to model the difference.

The four numbers that decide it

• Your current super balance (combined across members)
• The percentage fees your industry fund charges (admin + investment + insurance)
• The fixed annual cost of running an SMSF (setup amortised over 10 years, plus ongoing admin)
• Your expected long-term net return after fees

Why percentage fees matter so much at higher balances

Industry funds charge fees as a percentage of your balance. An SMSF charges a fixed dollar amount. That means as your balance grows, the gap between the two widens dramatically. At a $200,000 balance the comparison is close. At $500,000 the SMSF is usually meaningfully cheaper. At $1,000,000 the difference compounds into tens of thousands over 20 years.

Where industry funds still win

If your combined balance is below about $200,000, the fixed cost of running an SMSF often outweighs the percentage-fee saving. Industry funds also bundle group life, TPD and income protection insurance at scale, which can be cheaper than retail equivalents. SMSFs need to source their own insurance, which is doable but takes work.

How to use the easySMSF calculator

The calculator at easysmsf.com.au/calculator lets you plug in your current super balance and your industry fund's fee percentage, and shows the projected balance difference over 10, 20 and 30 years. It uses the easySMSF fixed monthly admin fee with audit included, so the comparison is apples to apples — not a sales pitch with hidden costs.

What the calculator won't tell you

The calculator focuses on fees. It can't tell you whether you'll enjoy being a trustee, whether you'll want to invest in property or direct shares, or whether you'll meet the trustee responsibilities the ATO expects. Those are personal questions worth talking through with a specialist before you decide.