Document ID: chunk:federal_register_of_legislation:F2025C00069:schedule:2a:p9
Version: federal_register_of_legislation:F2025C00069
Segment Type: schedule
Provision Reference: sch 2A (pt 9/12)
Character Range: 850528–853267

more than one failed Part 6A product, include the following paragraph]

Your money will stay in these failing investment options in [insert the name of the superannuation entity] unless you move it.

Finding a better super investment option could be worthwhile for your future. You could save thousands of dollars more for when you retire by switching to a better investment option or super fund. Super is a long‑term investment. By earning 1% more each year for 30 years, you could retire with 20% more in savings; for example, your super could increase from $100,000 to $120,000.

This letter does not take your personal situation into account. Before switching investment options, you should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fee and tax impacts. You may wish to speak to a financial adviser about your personal circumstances if you are unsure.

Your questions answered

What is the annual performance test?

The annual government test checks how much your super investment option has earned for you (after costs) over time. It compares your investment option's earnings with those of a similar investment option over the same period. The test is done at the investment option level. There may be a range of fees associated with an investment option. The test does not account for your personal situation, fees or tax.

Super funds with investment options that fail this test are required to tell you.

You can find out more about super at moneysmart.gov.au.

What things should I consider when deciding to switch super investment options or funds?

The performance test does not take into account your individual circumstances. You should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fees and tax impacts, when switching. You may wish to speak to a financial adviser about your personal circumstances.

How can I find a new super investment option or fund?

You may find it helpful to use the Australian Government's YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, low‑cost MySuper investment options. Note that the investment options listed above are not MySuper investment options. You should think about whether a MySuper investment option is right for you. Go to ato.gov.au/yoursuper or use the QR code below:

[insert QR code for ato.gov.au/yoursuper]

How do I consolidate my super?

If you open an account with a new super fund, contact the new fund or use myGov to consolidate your money, saving on fees by avoiding charges on multiple accounts.

What happens if a super investment option fails two or more years in a row?

If a