What is MySuper Lifecycle?

MySuper Lifecycle is Aware Super's default super investment approach that tailors your investments to your needs and age, to help you retire with more. It's where close to 600,000, or more than 85%, of our super (accumulation) members invest their money.

Our MySuper Lifecycle High Growth option is the no. 1 performer over 3, 5 & 10 years+


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MySuper Lifecycle video transcript

To get the most out of your super and help you retire with more, your investments need to change with you. 

That’s where MySuper Lifecycle comes in. 

MySuper Lifecycle is our default investment approach and is where more than 85% of our super members invest their money. 

Most super funds invest their members’ savings in just one default investment option. 

At Aware Super your Lifecycle default investments change to suit your age. And the good news is, our investment team does this all for you by adjusting your investments as you get closer to retirement. 

So how does our Lifecycle investment approach work? 

During the ‘Grow’ phase your super is 100% invested in High Growth. 

This helps maximise your returns, getting your super off to a great start and keeping it growing. 

When you reach age 56 we ‘Manage’ your super by adjusting your investment mix each year. 

Your investments gradually shift from a higher allocation to growth assets like shares, towards a more balanced mix, to help safeguard your savings from short-term dips in the market. 

And at 65 your super is 100% invested in Balanced Growth for more stable returns, setting you up to ‘Enjoy’ your best possible retirement. 

MySuper Lifecycle. Designed to grow your savings while you’re younger, manage the balance between risk and return as you move through life, and set you up to enjoy your savings in retirement. 

Our MySuper Lifecycle investment approach, helping you retire with more.



How MySuper Lifecycle works

With MySuper Lifecycle, as you get older, your investments will change to ensure they remain appropriately matched to your stage in life. This puts you in a better position to achieve your best possible retirement.

We've identified three key stages of your superannuation investment horizon, helping you strike a better balance between risk and return to suit your age.

The 3 key stages to MySuper Lifecycle:

(Select a stage to learn more)

  • GROW

    Age 16-55

  • MANAGE

    Age 56-64

  • ENJOY

    From age 65

Up until age 55, you'll be 100% invested in the High Growth option.

This phase of the Lifecycle approach is designed to make the most of your potential to grow your savings and maximise your returns over the long term.

Your investments will include a high allocation to growth assets, because at this age, you have the time to ride out market ups and downs.


Find out more about how MySuper Lifecycle works for:


Member benefits of MySuper Lifecycle

Top performance, giving you more in retirement.
And you can rest easy, knowing we do it all for you.

Market leading performance

You’re invested in a top-performing fund+.

Our High Growth investment option is the No. 1 performer over 3, 5 & 10 years to 30 June 2021. It’s the investment option members under 55 are invested in, and it outperformed every other MySuper option over the same period+.

Our Growth investment option is a top performer over 3,5 and 10 years, placing us in the top quartile compared to other super funds*.

You don't need to do a thing

Knowing when to move your retirement savings to more conservative investments can be complex and difficult to time correctly. Our dedicated team of experts make this decision for you, all with a view to helping you get better retirement outcomes.

Confidence to plan for your retirement

By managing the balance between risk and return to suit your age, we aim to provide a more stable ongoing return in the lead up your retirement. This helps to safeguard your savings during this important time so that you can enjoy your best possible retirement.

What's changed with MySuper Lifecycle

Our current Lifecycle approach automatically switches your investment option from Growth, to our less risky Balanced Growth when you turn 60.

From June 2021, we increased the level of tailoring that's automatically built into the MySuper Lifecyle approach. The new MySuper Lifecycle automatically adjusts your investment mix as you get older, helping you strike a balance between risk and return that's best suited to your age.

MySuper Lifecycle diagram
Most superannuation funds will invest the savings of their default MySuper members in a single investment option. And as a result, the investment mix of their members doesn't change, regardless of their age.


Important information about MySuper Lifecycle

To transition your existing MySuper Lifecycle investments, we'll be making a series of changes to your investment portfolio from June 2021.

Your member number won't change, and you'll still be invested in MySuper Lifecycle. Any insurance cover you may have with your account will not be affected. What's more, you don't need to do anything — it's all done for you.

See how we make the change

MySuper Product Dashboard

Our MySuper Product Dashboard summarises key information about the returns, fees, and levels of risk associated with our MySuper Lifecycle approach. It can also help you compare our MySuper Lifecycle approach with other MySuper products.

View dashboard


Frequently Asked Questions

What is MySuper Lifecycle?

MySuper is the default investment option provided by our fund. Lifecycle is our active investment approach, which changes as you get closer to retirement. We’re making improvements to MySuper Lifecycle to help members boost their savings and better manage risk as they move through life.

From June 2021 we’re increasing the level of tailoring that’s automatically built into the Lifecycle approach.

MySuper Lifecycle is Aware Super’s default super investment approach – it’s where close to 600,000 (or more than 86%) of our super (accumulation) members invest their money.

What is the new Lifecycle approach?

Super is a long-term investment and your investment needs will change over time. Your age can play a big part in what you need from your super -  whether you’re looking to grow your savings while you’re younger, manage the balance between risk and return as you move through life,  or enjoy your savings in retirement. As a result, our new approach tailors your investment through 3 clearly defined life stages: 

1. Grow (for members aged 55 and under) 100% High Growth 

This phase of the Lifecycle approach is designed to make the most of members' potential to grow their savings and maximise returns over the long term. 

Their investments will include a high allocation to growth assets, because at this age, there is time to ride out market ups and downs.  

2. Manage (between the ages of 56 and 65) 

Ten- year transition from High Growth, to Growth, then to Balanced Growth 

This phase is about moving members gradually (to manage risk) as they are in their final years of work and/or moving towards retirement. 

The Growth option aims to generate strong returns, but also includes some less risky assets to cushion their investments from short-term dips in the market.  

The lower risk Balanced Growth option incorporates risk management strategies that aim to cushion the impact of large market falls to help safeguard the members' savings.  

3. Enjoy (65+) 100% Balanced Growth 

The lower risk profile helps safeguard members' savings and provides them with a more stable ongoing return. 

This is a time when many members look to retire or are actively considering it. It is important to maintain the savings they've worked so hard for, so that members can be set up to enjoy the best possible retirement with confidence. 

Why are we changing? What are the benefits to our members?

Age can play a big part in what you need from your super - whether you’re looking to grow your savings while you’re younger, manage the balance between risk and return as you move through life, or enjoy your savings in retirement.

While most superannuation funds invest the savings of their default MySuper members in a single investment option, Aware Super members benefit because their investments will change as they get older so that they remain appropriately matched to our members stage in life.  

This puts our members in a better position to achieve your best possible retirement.

When is this change happening?

The launch date for the new MySuper approach is Thursday 10 June. This is when all current members will begin transitioning from the current design to new design. The initial transitional switches will occur across the weekend of the 12-13 June, as our administrator needs a whole weekend to run the switch processing. The transaction will become available to view on your web-portal from Monday 14 June.  

For more information, see how we will make the change.

Are there any changes to fees for members as a result of the enhancements to MySuper Lifecycle?

There are no new fees or costs for the enhanced MySuper Lifecycle investment approach. The investment fees, administration fees and other costs of each underlying investment option (High Growth, Growth and Balanced Growth) are not changing or increasing. 

However, with the change to the MySuper Lifecycle approach, members may automatically be switched into a different investment option, and different investment options have different investment fees.  

Members moving into an investment option with a higher allocation to growth assets will likely see a small increase in investment fees. For example, members under 55 years who will automatically switch into the High Growth option will have slightly higher investment fees in that option (0.77% p.a.), compared to the current Growth option (0.74% p.a.), a difference of 0.03% per year based on FY2019/20 calculations. It is important to keep in mind that the investment fees for each investment option change each year regardless, because they reflect the actual investments costs incurred which cannot be known with certainty in advance, for example they can depend on performance levels.  

The impact from a fee perspective for our typical (average) member, who will move from the Growth to High Growth investment option is expected to be less than $30 per year, based on the investment fees incurred for the 2019/20 financial year. 

Our new MySuper Lifecycle approach has been designed with the principle of optimising our members’ retirement outcomes, and as a result may include an increase in growth assets exposure, particularly for our younger members.  

The expected increase in a member’s balance by investing in these higher growth assets outweighs the slight increase to the fee. For the same average member (aged 45), they can expect their retirement balance to increase by estimated $16,000 after all costs and fees. This represents a net increase of 1.4% which is meaningfully more than the estimated 0.03% increase in fees and is based on conservative return assumptions. 

Investing in growth assets typically attracts higher investment fees and costs due to a number of factors, including the scarcity and uniqueness of the assets in question, the specialist expertise required to actively manage these assets, and the potential to generate higher returns than income assets. Examples of growth assets which can have higher fees than income assets include Private Equity and actively managed Australian and International Equities. 

What is an investment fee?

Investment fees reflect a broad range of fees and costs associated with the purchase/sale and ongoing management of investments of the fund and underlying investment vehicles. This includes fees paid to investment managers, as well as amounts paid to a variety of third parties such as our custodian, brokers and government authorities.  

These amounts are paid from the assets of the investment option before we calculate the unit price and are not deducted directly from your account. This means that any performance/investment returns you receive already fully reflect the impact of investment fees. 

How are RIS/TRIS members impacted?

The default investment choice for Transition to Retirement and Retirement income stream accounts will now be Balanced Growth. Balanced Growth already balances the need for strong long-term returns and helps guard against big market falls. Lifecycle will no longer be available as an investment option.

The investment of Members aged 60 or over and invested in Lifecycle, your investments won’t change – they’ll stay in Balanced Growth.

The investments of Members under the age of 60 your money will be switched from Growth to Balanced Growth.

Can I opt out of the lifecycle option at any stage if I am a member? How?

Yes, a member does not have to remain invested in the Lifecycle approach. To opt out, members must simply make their own investment choice on their account, selecting which investment option they want to be invested in. Once a member makes their own investment choice they become a ‘choice’ member rather than a default ‘Lifecycle” member. This will avoid all future glidepath or transitional switches from occurring on their account.

NOTE- Members can also opt out at any point during the transition, and do not have to wait until they are transitioned to their new asset allocation to opt out.

What are the benefits of this design to our members?

Your age can play a big part in how you invest your super. Typically when you’re younger you may wish to invest your super in riskier, high growth investments as you generally have time to wait out the occasional market downturn. As you get closer to retirement it may be a good idea to start reducing your investment risk.

Our new progressive Lifecycle investment approach takes advantage of our investment expertise – we manage MySuper Lifecycle with the aim of helping members grow their retirement savings when they’re younger and reduce their investment risk as they get closer to retirement.

What are the investment options incorporated in the new Lifecycle design?

Your super is invested across three investment options within the MySuper Lifecycle. Depending on your age, you may be invested in one or two of the investment options for a period of time.

The options are High Growth, Growth and Balanced Growth which are part of Aware Super’s existing diversified investment option suite that are offered to all members. The diversified investment options provide you with the benefit of diversification by being invested across different asset classes, investment styles and managers.

For more information on each investment option refer to pages 10 to 16 of the Member Booklet Supplement - Investments.

Are you a Lifecycle member?

If you don't choose a specific investment option when you first join Aware Super, you'll automatically be invested in MySuper Lifecycle. On the other hand, if you've already chosen a specific Aware Super investment option (other than MySuper), you can switch over to MySuper Lifecycle at any time.

See how your super is invested

+ Before deciding if this is right for you consider the PDS on our website. Issued by Aware Super Pty Ltd ABN 11 118 202 672, AFSL 293340. Returns for the Aware Super MySuper Lifecycle High Growth option were ranked number 1 over 3, 5 and 10-year periods as published in the SuperRatings Default Index. Past performance is not a reliable indicator of future performance.

* SuperRatings Fund Crediting Rate Survey, June 2021. SR50 Balanced (60-76) Index, Aware Super Growth option is a top-10 performer over 3, 5 and 10-year periods to 30 June 2021. SR25 Conservative Balanced (41-59) Index, Aware Super Balanced Growth option is a top-10 performer over 3, 5, 7 and 10-year periods to 30 June 2021.