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‘Not good enough’: Only eight super funds pass muster on retirement
Just eight superannuation funds out of 45 assessed have passed a test based on how well they support members when they reach retirement.
The 2026 Epic Retirement Tick test, designed by super research house Chant West and the Epic Retirement Institute, was based on an expanded checklist of 20 criteria (up from 18 last year) of factors considered important to pre-retirees and retirees.
To be awarded the tick in 2026, funds must have met 14 out of the 20 criteria. Bethany Rae
Despite the additional criteria, the number of funds awarded the tick rose from six in 2025, but Epic Retirement Institute founder Bec Wilson said the low number “isn’t good enough”.
“Australians should be able to expect this level of retirement support from far more of the superannuation industry,” said Wilson.
“Super funds are paid to support their members through retirement, not just while they’re accumulating super.”
In its inaugural year, six funds – Hostplus, Aware Super, Brighter Super, UniSuper, Telstra Super (which has since merged with Aware Super) and Australian Retirement Trust’s Super Savings account option – passed, and all retained the accreditation this year.
The three additional funds that passed the 2026 test were retail funds AMP and Colonial First State’s FirstChoice offering, and industry fund Vision Super.
To be awarded the tick in 2026, funds must have met 14 of the 20 criteria (up from 12 of 18 last year) grouped broadly under the categories of product design and investments, education, guidance and advice, and service delivery.
Funds must also not have any enforceable undertakings or additional licence conditions currently imposed upon them by APRA or ASIC – a new requirement for 2026.
AMP, Aware Super, Brighter Super, UniSuper and Colonial First State FirstChoice were assessed to have met 15 criteria, while Australian Retirement Trust Super Savings, Hostplus and Vision Super were found to have met 14 criteria.
Five criteria were added to the 2026 test while three were removed, said Wilson.
Cybersecurity and fraud protection, complaints handling, the variety of retirement solutions offered and the extent to which customers could make changes to their account online were among the new hurdles on which funds were assessed.
They sit alongside more traditional criteria such as investment performance, fees, drawdown strategies, advice, retirement planning assistance, contact centre service and efficiency of pension payments.
Chant West general manager Ian Fryer said retail super funds were among the most improved in 2026.
“We’ve seen considerable development from funds over the past year, particularly in the help they provide to members as they approach and enter retirement,” said Fryer.
“There’s been strong development from retail providers in particular across advice – both digital and over the phone – member engagement and retirement income tools.”
But more widely, superannuation funds continue to attract criticism for being ill-prepared to help members navigate the transition to retirement.
With more than 2.5 million people forecast to retire over the next decade, regulators and policymakers say many super funds are lacking.
This year, the country’s biggest super fund, Australian Super, bolstered its advice offering in an attempt to stem an outflow of funds to other super funds and small and medium super funds (SMSFs), while the handling of death benefits payments remains a pain point.
