Let’s help you to compare super funds

Superannuation is compulsory for working Australians and helps to fund your retirement, so whether you’re just starting out your career or nearing retirement, our Super hub is designed to help you. Compare funds, watch our super tutorials, read guides or catch up on the latest super news - it’s all here in one place.

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What are superannuation investment mixes and how do they work?

Join Mozo finance expert Rachel Wastell as she gives you the run-down on what superannuation investment mixes are and how they work. 

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What is superannuation? 

Superannuation is a way of saving money for your retirement. When you work, a percentage of your earnings is set aside in a super fund account, which is only made accessible to you when you retire and reach your preservation age.  This amount can grow over time, based on how much is contributed and how your chosen fund invests your money. 

Superannuation is a long term investment, but it shouldn’t be thought of as a set and forget decision. The fees you pay, the investment returns, and asset allocation will determine how much super you will have at the time of retirement and the kind of retirement you’ll be able to financially enjoy. Engaging with your super at all stages of your life is important.

How does superannuation work? 

Superannuation is the way that most Australians save for their retirement. Employers are required to pay a percentage of your earnings (current minimum 11.50%) in your super account and your chosen superfund will invest this on your behalf until your retirement.

When you retire you will be able to withdraw the funds in your account to pay for your living expenses. 

You can choose which type of superfund your money is held by and you will generally also get a choice between the investment options made with your money as most superfunds will have options for conservative, balanced or growth investments.

Main types of super funds

There are a range of super funds choices available to Australians including:

Common investment options of superannuation funds in Australia 

When it comes to selecting the investment options within your chosen fund you’re likely to have a few options. Which investment option is best for you will depend on a couple of factors such as:

Some of the most common types of pre-mixed options offered by super funds include:

JP Pelosi
JP Pelosi
Managing editor

Managing Editor Jean-Paul (JP) Pelosi leads the editorial team, with over 20 years of experience writing for top outlets like The Guardian, The Sydney Morning Herald and News.com.au. JP's expertise in home loans and property is complemented by his rich background at major financial firms including CommBank, Suncorp and Amex. Holding a Master's in Communications and international experience in journalism, JP combines passion with skill and has a unique ability to apply this editorial experience and financial knowledge to advise the team on how to create engaging financial content for Australian consumers.

FAQs about superannuation

What are the new super rules for 2024?

The rate that employers contribute to superannuation is currently 11.50% and will increase to 12% in July 2025. This is known as the superannuation guarantee rate

What is the superannuation cap for 2024?

The amount of money that you can contribute to super from your before-tax income is set at $30,000 p.a. This is known as a concessional contribution.

For the 2024/25 financial year, the non-concessional contributions cap is $120,000.

Can I access my super early?

For the majority of people, you will not be able to access your superannuation until you reach the preservation age and retire. 

There are some instances in which you can access super early but you’ll need to meet strict criteria. 

Some reasons for early access to super might be: 

  • Severe financial hardship
  • Compassionate grounds
  • Terminal illness
  • Temporary or permanent incapacity.

Read our in depth early access to super guide to learn more about the early access rules, limits and tax implications.