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Your Future, Your Super Performance Test

The Government’s Your Future, Your Super reforms (the YFYS reforms) came into effect on 1 July 2021. The YFYS reforms will require the superannuation industry to improve its efficiency, transparency and accountability.

Under the YFYS reforms, APRA is required to conduct an annual performance test for MySuper products. The assessment under the performance test, in conjunction with the ATO’s YourSuper comparison tool, is intended to hold RSE licensees to account for underperformance through greater transparency and increased consequences. This page contains the results of the first performance test.

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Published 31 August 2021

An accessible version of the dashboard is available here.

Failing products

RSE MySuper product
AMG Super AMG MySuper
ASGARD Independence Plan Division Two ASGARD Employee MySuper
Australian Catholic Superannuation and Retirement Fund LifetimeOne
AvSuper Fund AvSuper Growth (MySuper)
BOC Gases Superannuation Fund BOC MySuper
Christian Super My Ethical Super
Colonial First State FirstChoice Superannuation Trust FirstChoice Employer Super
Commonwealth Bank Group Super Accumulate Plus Balanced
Energy Industries Superannuation Scheme-Pool A Balanced (MySuper)
Labour Union Co-Operative Retirement Fund MySuper Balanced
Maritime Super MYSUPER INVESTMENT OPTION
Retirement Wrap BT Super MySuper
The Victorian Independent Schools Superannuation Fund VISSF Balanced Option (MySuper Product)

Immediate expectations of RSE licensees
 

  • Identify the causes of underperformance, and develop and implement a plan to rectify this underperformance. 
  • Assess the potential implications of failing the test on the fund and the sustainability of business operations.
  • Develop a contingency plan to, if it becomes necessary in the best financial interests of members, close the product, transfer members to another fund/product and/or exit the industry.

Published 31 August 2021

Published 31 August 2021

Scan this QR code to be taken to the Australian Taxation Office's YourSuper comparison tool, or click here.

Scan QR Code to open the ATO Super Comparison Tool