Annual superannuation performance test
APRA is required to conduct an annual performance test for superannuation products. The assessment under the performance test is intended to hold RSE licensees to account for underperformance through greater transparency and increased consequences.
This is the third year that trustee directed products, a subset of the choice segment, have been assessed in the performance test.
MySuper products
The 2025 annual performance test has assessed 52 MySuper products against tailored benchmarks. MySuper products have been assessed in the annual test since its launch in 2021.
The 2025 annual superannuation performance test - MySuper products.
Trustee directed products
Trustee directed products, or TDPs, are multi-asset products where the trustee or connected entity has control over the investment strategy and/or the management of investments. A total of 374 Non-platform TDPs and 137 platform products were assessed in this year’s test.
The 2025 annual superannuation performance test - trustee directed products.