Industry Superannuation

Industry Superannuation Funds are super funds specifically designed for workers in a particular industry – be it retail, construction, media, legal and real estate.

Historically they were generally only available to workers from within the industry, however now in most cases they are open to anyone.

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Features of Industry Superannuation Funds


Lower Cost

Generally lower cost compared to retail or other types of funds, although some may have higher fees.

Investment Options

Typically offers 5 – 15 investment options to provide some flexibility to members.

Accumulation Funds

The majority of funds are accumulation funds – a fund which accumulates over time and your value will be dependent on employer contributions, how your investments perform, fees, extra money you put in etc.

Not for Profit

Industry funds are not for profit, funds meaning profits are invested back into the fund for the benefit of members.


Limited Investment Options

Limited investment flexibility – retail super funds may offer up to 100 investment options for members, compared to the 5-15 available to industry super funds.

Default Insurance

Default insurance may not meet your individual requirements and may erode your retirement savings as premiums are being paid for by your fund.

All industry super fund logos will be accompanied by the Industry Super Fund logo. When a fund uses this logo alongside their company logo, you know it is an industry super fund.

List of Industry Super Funds:

Default Insurance

Industry Super Funds offer what is known as ‘default insurance’ to their members. It is generally automatically applied to super fund members.

Default insurance offers cover across:

Life Insurance

TPD Insurance

Income Protection

Limitations of Default Insurance may include:

Stepped premiums only

Trauma insurance not available

Limited level of cover available

Insurance through industry superannuation

Default insurance is not your only option when it comes to life insurance through your super fund. Generally, most retail life insurance policies are available through a super fund, including industry funds.

There may be a number of limitations in taking out insurance through superannuation:

Trauma insurance and Any Occupation  are available inside super
Funds provided by some additional options and built-in features may not be accessible until you reach retirement age
Premiums paid for by your super fund could reduce your retirement savings
Published: April 22, 2015

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