At what balance does an SMSF become cheaper than Aware Super?

Aware Super's default High Growth (MySuper Lifecycle) option charges roughly 0.95% per year all-in. easySMSF's fixed admin fee means the crossover sits at roughly $134,211 combined member balance. Above that, an SMSF is cheaper every year and the gap widens as the balance grows.

Can I hold the same investments in an SMSF as in Aware Super?

Yes, and significantly more. An SMSF can hold direct ASX shares, ETFs, international equities, residential and commercial property (including via LRBA), term deposits, bullion and crypto. Aware Super limits you to pre-built investment options with concentration and asset-class caps.

What happens to my insurance if I move from Aware Super to an SMSF?

Your SMSF can hold life, TPD and income-protection cover, but it must be arranged separately — usually through a retail insurer. Always apply for SMSF-held cover and have it accepted before rolling over funds out of Aware Super, so you're never uninsured during the switch.

Is moving from Aware Super to an SMSF worth the extra responsibility?

It depends. If you want direct ownership, transparency, and the flexibility to hold property or international shares, yes. If you don't want to read ATO guidance or document an investment strategy, Aware Super's default option may be the better fit. easySMSF removes most of the day-to-day admin burden by handling accounts, tax and audit on a fixed fee.

SMSF comparison

SMSF vs Aware Super: fees, control and breakeven

By Tim Roff, Founder & SMSF Specialist · Updated 29 June 2026

Aware Super is one of Australia's largest profit-to-member funds, formed from the FSS / VicSuper / WA Super merger. Solid pooled returns but, again, no direct ownership of the underlying assets.

EOFY Special — 50% off SMSF setup

Offer ends midnight AEST, 1 July 2026. Applies to Individual and Corporate Trustee setup fees.

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How the costs compare

Aware Super charges around 0.95% per year on the default High Growth (MySuper Lifecycle) option (high growth option, all-in.). That percentage applies to your entire balance — so the dollar cost rises every year as your fund grows.

easySMSF charges a fixed monthly fee for full SMSF administration and the annual audit. The percentage you pay shrinks every year as the fund grows. The crossover — where an SMSF starts costing less than Aware Super in absolute dollars — sits at roughly $134,211 combined member balance.

Beyond cost, the bigger story is what you can actually hold. Aware Super 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.

Aware Super default fee: ~0.95% per year on your full balance
easySMSF fee: fixed monthly — shrinks as a percentage as your balance grows
Crossover balance: about $134,211 combined
Aware Super pro: Large fund; strong infrastructure / private market exposure
Aware Super pro: Lifecycle de-risking automatically as you age
Aware Super pro: Member Direct platform for ASX 300 / ETFs / cash
Aware Super limit: All-in fees above 0.9% — expensive on six-figure balances
Aware Super limit: Member Direct has the usual concentration / asset-class caps
Aware Super limit: No direct property, no LRBA, no SMSF-grade flexibility

Compare other funds: SMSF vs AustralianSuper · SMSF vs Hostplus · SMSF vs Rest · SMSF vs UniSuper · SMSF vs industry funds · SMSF vs retail funds

Frequently asked questions

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