SMSF comparison
SMSF vs UniSuper: which costs less in 2026?
By easySMSF, SMSF Specialist Team · Updated
UniSuper is the higher-education sector fund, known for strong long-term performance and a Defined Benefit Division. The trade-off is the usual one — no direct ownership of the underlying assets and no SMSF-style flexibility.
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The short answer
UniSuper 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 $238,000 in combined member balances, the SMSF is the cheaper fund — about $1,832 a year cheaper at $500,000.
- UniSuper all-in fee
- ~0.7% /yr
- easySMSF admin
- $1,668 /yr fixed
- Break-even balance
- $238,000
How the costs compare
UniSuper charges around 0.7% per year on the default Balanced option (balanced option, all-in (admin + investment).). 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 UniSuper in absolute dollars — sits at roughly $238,000 in combined member balances.
Beyond cost, the bigger story is what you can actually hold. UniSuper 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.
- UniSuper default fee: ~0.7% per year on your full balance
- easySMSF fee: fixed monthly — shrinks as a percentage as your balance grows
- Crossover balance: about $238,000 combined
- UniSuper pro: Competitive admin fee structure
- UniSuper pro: Strong governance and long-term performance
- UniSuper pro: DBD members get a defined-benefit pension entitlement
- UniSuper limit: Investment menu limited to pooled options + 'DIY' shares
- UniSuper limit: DIY platform restricted to S&P/ASX 300 + select ETFs
- UniSuper limit: No property, no LRBA, no crypto, no global brokerage
UniSuper fees vs easySMSF at different balances
UniSuper charges roughly 0.7% a year on the Balanced 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 | UniSuper (~0.7%) | easySMSF (fixed) | Difference a year |
|---|---|---|---|
| $200,000 | $1,400 | $1,668 | $268 cheaper with UniSuper |
| $400,000 | $2,800 | $1,668 | $1,132 cheaper with an SMSF |
| $600,000 | $4,200 | $1,668 | $2,532 cheaper with an SMSF |
| $1,000,000 | $7,000 | $1,668 | $5,332 cheaper with an SMSF |
Estimates only. UniSuper figures use publicly disclosed balanced option, all-in (admin + investment). 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 $238,000 in combined member balances. Below that, UniSuper 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: UniSuper vs an SMSF
UniSuper's member-directed option, UniSuper DIY, covers S&P/ASX 300 shares, a shortlist of ETFs and term deposits. A minimum must stay in pooled options, and there are caps on how much can sit in any single holding.
| Investment or feature | UniSuper | SMSF with easySMSF |
|---|---|---|
| Direct ASX shares | Via UniSuper DIY, 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 UniSuper DIY | 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 0.7% of your balance, every year | Fixed $139 a month regardless of balance |
How UniSuper and an SMSF typically compare
Members commonly stay with UniSuper when
you hold Defined Benefit Division entitlements you do not want to give up, or you value UniSuper's long-run pooled performance over control.
Members commonly consider an SMSF when
you are in accumulation only, want direct property or global equities, or want to run a transparent pension phase with full control of asset sales.
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 UniSuper to an SMSF
- 1
Sort your insurance first
If you hold life, TPD or income protection inside UniSuper, 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 UniSuper via SuperStream
Once the fund is registered and shows on Super Fund Lookup, the rollover request is submitted electronically. UniSuper 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).