Super Fund Fee Changes 2026: What to Check Before You Retire

by Nasser ZreikaAug 26, 2026Superannuation

These super fund fee changes 2026 start with AustralianSuper, the country’s largest fund with 3.6 million members. From 31 October 2026 (1 November for Choice Income and Transition to Retirement accounts), the asset-based admin fee starts rising. It climbs from 0.10% to 0.12% a year.

The annual cap also increases from $350 to $600. About 88% of accumulation members will pay up to $1.83 a week more. It’s AustralianSuper’s first fee increase since 2022. It’s also a useful trigger to check your fund’s fees against the government’s YourSuper comparison tool. This applies no matter which fund you’re with.

What Are the Super Fund Fee Changes 2026 at AustralianSuper?

AustralianSuper manages more than $430 billion for over 3.6 million members. From 31 October 2026, its administration fee structure changes as follows:

The asset-based component of the admin fee rises from 0.10% to 0.12% a year of your account balance
The annual cap on that fee increases from $350 to $600. This affects around 7% of accumulation members with higher balances
The flat weekly fee of $1.00 stays the same
The administration fee tax benefit will no longer apply to accumulation and Transition to Retirement Income accounts
Choice Income and Transition to Retirement Income accounts see the same percentage and cap changes from 1 November 2026

The fund says about 88% of accumulation members will see their admin fee rise by up to $1.83 a week. That’s roughly 3.1 million people with balances up to $250,000. Members with higher balances who hit the new $600 cap could pay up to roughly $5.97 a week more. This depends on their starting position.

AustralianSuper attributes the increase to investment in member services, retirement guidance and advice, and cybersecurity infrastructure. It says its fees remain about 17% below the MySuper industry average even after the change.

Why This Matters More as You Approach Retirement

Funds usually charge admin fees as a percentage of your balance plus a flat dollar amount. This means the dollar impact grows as your super balance grows. That impact is typically largest in the years just before and during retirement, when balances peak.

A small-looking fee increase can add up to a meaningful amount over a 20 or 30-year retirement. This is especially true if lower investment costs or better net returns don’t offset it. This is exactly the kind of change worth checking for, rather than assuming your statement will flag it clearly.

How to Check Your Super Fund Fees

Look for a Significant Event Notice (SEN) from your fund. Funds must notify members in writing before a fee increase takes effect, usually by email or post
Check your annual statement for the exact admin fee, flat dollar fee, and any cap on your account
Use the ATO’s free YourSuper tool to compare your fund’s MySuper product on fees and net returns
If you hold a Choice or pension account, compare fees using your fund’s Product Disclosure Statement. Funds often structure Choice and pension fees differently to MySuper
Admin fees are only part of the picture. Investment fees, performance fees, transaction costs, and insurance premiums all affect your net return. A lower admin fee doesn’t always mean a better outcome overall

What to Do Before You Retire

If you’re getting close to converting your super into an account-based pension, it’s worth reviewing fees for both accounts. Check your existing accumulation account and the pension product you’re about to move into, since some funds price these differently. Don’t switch funds purely to chase a lower headline fee. Investment performance, insurance arrangements, and any exit or switching costs all matter too.

If you’re unsure whether a fee increase materially changes your retirement outcome, run the numbers with a financial adviser.

If you’d like help understanding these super fund fee changes 2026 and how they compare to your own, Lincoln Wealth Advisers can walk through your statement with you.

FAQs About the Super Fund Fee Changes 2026

Do I need to do anything if I’m an AustralianSuper member?

You don’t need to do anything for the fee change itself — it applies automatically. It’s still worth checking your Significant Event Notice to understand exactly how it affects your account balance. If relevant, compare it against other funds.

Is a 0.02 percentage point increase really worth worrying about?

On its own, it’s modest for most balances. But fee changes compound over time. They often arrive alongside other adjustments, like the removal of the admin fee tax benefit in this case. So the combined effect can be larger than the headline percentage suggests. It’s worth checking the actual dollar impact on your specific balance rather than the percentage alone.

Are other super funds also raising fees in 2026?

Fee reviews happen fund by fund and aren’t always widely publicised. AustralianSuper’s change has attracted attention because of its size. But it’s worth checking your own fund’s recent communications and annual statement regardless of who you’re with. Don’t assume a fee change only applies to AustralianSuper members.

Should I switch funds because of a fee increase?

Not automatically. Fees are one factor among several, including investment performance, insurance cover, and any costs involved in switching. A fund with a slightly higher fee but stronger long-term net returns can still leave you better off. Compare the whole package, not just the fee line.