Types of Superannuation Funds

Other Fund Types

There are many other types of superannuation funds available in Australia which we will not consider in this module, including:

  • Public sector funds, which are generally restricted to government employees;
  • Small APRA Funds, which operate in a similar manner to self-managed superannuation funds but with a professional trustee and regulated by the Australian Prudential Regulation Authority (APRA);
  • Eligible Rollover funds*, which generally hold the benefits of members who cannot be located; and
  • Retirement Savings Accounts, which are superannuation accounts offered by banking institutions.

*Please note: As part of the ‘Reuniting More Super’ legislation, ERF accounts are required to roll over all accounts to the ATO as unclaimed super money. In addition, the legislation also prevents new amounts being transferred to an ERF from 1 May 2021.