SMSF comparison
SMSF vs AustralianSuper: which costs less in 2026?
By easySMSF, SMSF Specialist Team · Updated
AustralianSuper is the country's largest profit-to-member fund. It wins on scale and low default fees, but limits you to pre-built investment options and an indirect 'Member Direct' platform for shares.
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The short answer
AustralianSuper charges a percentage of your balance, so your fee grows with your super. easySMSF charges a fixed $139 a month with the independent audit included. Past roughly $211,000 in combined member balances, the SMSF is the cheaper fund — about $2,282 a year cheaper at $500,000.
- AustralianSuper all-in fee
- ~0.79% /yr
- easySMSF admin
- $1,668 /yr fixed
- Break-even balance
- $211,000
How the costs compare
AustralianSuper charges around 0.79% per year on the default Balanced (MySuper) option (balanced option, all-in (admin + investment + transaction).). That percentage applies to your entire balance — so the dollar cost rises every year as your fund grows.
easySMSF charges a fixed $139 a month for full SMSF administration, tax and the independent audit. Because the fee never scales with assets, the effective percentage you pay falls every year the fund grows. The crossover — where an SMSF starts costing less than AustralianSuper in absolute dollars — sits at roughly $211,000 in combined member balances.
Beyond cost, the bigger story is what you can actually hold. AustralianSuper restricts you to pre-built investment options (and at best a 'member direct' platform with asset-class caps). An SMSF lets you hold direct ASX and global shares, residential and commercial property, ETFs, term deposits, bullion and crypto — all in the fund's own name.
- AustralianSuper default fee: ~0.79% per year on your full balance
- easySMSF fee: fixed monthly — shrinks as a percentage as your balance grows
- Crossover balance: about $211,000 combined
- AustralianSuper pro: Very low admin fee on small balances
- AustralianSuper pro: Strong long-run net returns on the Balanced option
- AustralianSuper pro: Default insurance is automatic and competitively priced
- AustralianSuper limit: Percentage-based fees grow with your balance — costly above ~$300k
- AustralianSuper limit: Member Direct caps ASX exposure at 80% of your balance
- AustralianSuper limit: No direct property, no LRBA, no SMSF-grade investment flexibility
AustralianSuper fees vs easySMSF at different balances
AustralianSuper charges roughly 0.79% a year on the Balanced (MySuper) option, so the dollar cost climbs with your balance. easySMSF charges a fixed $139 a month ($1,668 a year) covering administration, tax and the independent audit — the same figure whether the fund holds $200,000 or $2 million.
| Combined balance | AustralianSuper (~0.79%) | easySMSF (fixed) | Difference a year |
|---|---|---|---|
| $200,000 | $1,580 | $1,668 | $88 cheaper with AustralianSuper |
| $400,000 | $3,160 | $1,668 | $1,492 cheaper with an SMSF |
| $600,000 | $4,740 | $1,668 | $3,072 cheaper with an SMSF |
| $1,000,000 | $7,900 | $1,668 | $6,232 cheaper with an SMSF |
Estimates only. AustralianSuper figures use publicly disclosed balanced option, all-in (admin + investment + transaction). easySMSF figures exclude the one-off setup fee and any ASIC annual review fee for a corporate trustee. Insurance premiums are not included on either side.
The crossover sits at about $211,000 in combined member balances. Below that, AustralianSuper generally costs less in absolute dollars. Above it, the fixed fee wins and the gap widens every year the balance grows. Two members pooling their balances reach that point roughly twice as fast — run your own numbers in the SMSF fee calculator.
What you can hold: AustralianSuper vs an SMSF
AustralianSuper's member-directed option, Member Direct, covers S&P/ASX 300 shares, a selected ETF list, LICs, term deposits and cash. A minimum balance must stay in a pre-mixed option, and single-share concentration is capped.
| Investment or feature | AustralianSuper | SMSF with easySMSF |
|---|---|---|
| Direct ASX shares | Via Member Direct, ASX 300 only | Any listed ASX security, no concentration cap |
| International shares | Only through pooled international options | Direct global brokerage in the fund's own name |
| Residential property | Not available | Yes, held directly by the fund |
| Commercial / business real property | Not available | Yes, and it can be leased to your own business at market rates |
| Borrowing (LRBA) | Not available | Yes, under a limited recourse borrowing arrangement |
| Term deposits and cash | Available via Member Direct | Any bank, any term, chosen by the trustees |
| Who owns the assets | The fund's pooled trust — you hold units | Your fund, in its own name, with you as trustee |
| Insurance | Automatic group cover, no underwriting for default cover | Arranged separately and underwritten before you switch |
| Fee basis | About 0.79% of your balance, every year | Fixed $139 a month regardless of balance |
How AustralianSuper and an SMSF typically compare
Members commonly stay with AustralianSuper when
your balance is under about $180,000, you want automatic default insurance, and you are happy with a pre-built balanced portfolio.
Members commonly consider an SMSF when
you want to hold direct property, borrow through an LRBA to buy commercial premises, run a concentrated share portfolio, or pool balances with a partner to cross the fixed-fee crossover point sooner.
General advice warning
Figures shown are illustrative only and based on the inputs and assumptions you provide. They are general information, not personal financial product advice. Consider your objectives, financial situation and needs, and seek personal advice from a licensed financial adviser before acting. easySMSF does not hold an Australian Financial Services Licence (AFSL).
How to move from AustralianSuper to an SMSF
- 1
Sort your insurance first
If you hold life, TPD or income protection inside AustralianSuper, apply for replacement cover and have it accepted in writing before anything moves. Rolling out first can leave you uninsured, and cover is not always reissued if your health has changed.
- 2
Establish the fund and trustee structure
We prepare the trust deed, lodge the ABN and TFN applications on your behalf as your agent, coordinate the bank account and, for a corporate trustee, lodge the special purpose company application with ASIC. The one-off fee covers our professional work; government charges are separate.
- 3
Document the investment strategy
The ATO requires a written strategy covering risk, diversification, liquidity, and whether the fund holds insurance for members. We provide a template and review it with you.
- 4
Roll over from AustralianSuper via SuperStream
Once the fund is registered and shows on Super Fund Lookup, the rollover request is submitted electronically. AustralianSuper generally releases the balance within a few business days of a valid SuperStream request.
- 5
Redirect contributions and start investing
Give your employer the fund's new details, then invest according to the strategy. From there we handle the accounts, the annual return and the independent audit on a fixed monthly fee.
Most funds are registered and ready to receive a rollover within a few days — see the full SMSF setup timeline or read how SuperStream rollovers work.
Frequently asked questions
General advice warning
Figures shown are illustrative only and based on the inputs and assumptions you provide. They are general information, not personal financial product advice. Consider your objectives, financial situation and needs, and seek personal advice from a licensed financial adviser before acting. easySMSF does not hold an Australian Financial Services Licence (AFSL).