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What is MySuper Lifecycle?

Most super funds invest the savings of their default MySuper members in a single investment option. As a result, the investment mix of their members doesn't change, regardless of their age.

Our investment experts have designed an investment mix that automatically adjusts your investment mix based on your age. This approach is called MySuper Lifecycle.

If you don’t make an investment choice when you join Aware Super and open a Future Saver account, all your super is automatically invested in MySuper Lifecycle.

Almost 600,000 (over 80%) of our super (accumulation) members are invested in Aware Super MySuper Lifecycle.

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Member benefits

Strong, long-term performance

Our High Growth option is ranked in the top 10 similar investments for super funds over 10 years. This is where your money is invested during the Grow phase of MySuper Lifecycle.1

Find out how your investments are performing

Our competitive fees can make a big difference to your super balance over time.

We offer competitive fees2 and don't charge you to switch options.

Add more to your super to grow it faster

By adding more money to your super you can increase your retirement savings. Add to your super.

1 Aware Super's High Growth option return over 10 years to 31 December 2023 was 8.40% p.a. Index median of 7.89% p.a. for the same period. Source: SuperRatings Fund Crediting Rate Survey (FCRS) (SR50 Growth (77-90) Index) (approx. 50 options). Returns are after investment fees and costs, transaction costs, tax on investment income and any implicit admin fees. Past performance is not an indicator of future performance.

2 Source: Chant West Super Fund Fee Survey 30 September 2023, High Growth [81-100% in growth assets] investment option index and $50,000 account balance. Aware Super High Growth option total fee is 0.99% p.a compared to an overall average of 1.30% p.a. (approx. 75 options) and a retail fund average of 1.41% p.a. (approx. 15 options). Total fee includes combined administration, transaction, and investment fees and costs. Fees and costs can vary from year to year. Past fees and costs are not a reliable indicator of future fees and costs. Fees and comparisons may differ for other investment options and account balances.

Get advice

We offer a range of advice options to suit your needs. Our team can answer questions about your account at no extra cost, over the phone or virtually.

Frequently asked questions

Aware Super MySuper Lifecycle is our default investment approach for Future Saver members. It changes the way your super is invested as you get closer to retirement.  Almost 600,000 (over 80%) of our super (accumulation) members are invested in Aware Super MySuper Lifecycle.

No. You can opt out of the MySuper Lifecycle approach at any time. Simply log into your online account and select the investment option you want to change to. 

Your investment needs may change over time. When you’re younger, you might want to invest in high growth options. This is because you generally have time to ride out market ups and downs.

MySuper Lifecycle helps you grow your super savings while you’re young and manage investment risk as you get closer to and in retirement.

MySuper Lifecycle uses three of our diversified investment options as the building blocks for the 11 different stages. 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
  • Balanced and 
  • Conservative Balanced.

These are core diversified investment options offered to all members. They provide you with the benefit of diversification. This is because your money is invested across different asset classes, investment styles and managers.

You can learn more about MySuper Lifecycle stages in the Investment and Fees Handbook.

Your super money is invested so it can grow over time. The more money your investments earn, the more super you have in retirement.

The type of investments you have depends on how much risk you're willing to take. For example:

  • growth investments like shares tend to be more volatile in the short-term, but offer the potential for higher returns over the long term
  • cash and fixed income investments tend to be less volatile in the short to medium-term, but usually deliver lower returns over the long-term.  

Work out how much money you need in retirement

Product details

This investment approach is designed to be suitable for a broad range of investors, and may be especially helpful if:
 

  • you don’t want to make an investment choice and would prefer to leave the hard work to our investment professionals
  • you're comfortable for your super to be automatically adjusted in the lead up to retirement
  • you’re unsure about how to invest  
  • you're unfamiliar with investment markets
  • you don’t have time to check markets and make your own investment choices. 

 

Aware Super MySuper Lifecycle automatically changes the way your super is invested based on your age. This helps you grow your super savings while you’re young and manage investment risk as you get closer to retirement and when you’re in retirement.

What you need from your super is likely to be different over time. This could mean:

  • growing your super and maximising returns up to age 55
  • managing the investment risk of your super in the ten years or so before you retire
  • enjoying your super when you’ve retired.

We've incorporated these phases into the Aware Super MySuper Lifecycle approach.

When you open a Future Saver account, we’ll invest your money in MySuper Lifecycle if you don’t choose another investment option. You can change this at any time.

 

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Our team can answer your questions about your account at no extra cost, over the phone or virtually though comprehensive advice may involve a fee.  

Lifecycle phases

Grow Phase (members 55 and under)

When retirement is a long time away, you have time to ride the ups and downs of investment markets. This means your super can be invested in higher growth investments. These investments can rise and fall over short periods of time. However, in the long term they tend to grow your balance more than other investments.

During the Grow phase 100% of your balance is invested in our High Growth option. This phase lasts until you’re age 56, so your super has a long time to weather volatile markets and make the most of higher long-term returns.

Manage Phase (members between 56 and 65)

As you get closer to retirement, your super will have less time to ride out market changes. With Aware Super MySuper Lifecycle, we start changing your investment mix when you reach age 56. We'll gradually transition your investments away from the High Growth option into the Balanced option, and then into the Conservative Balanced option. Each year between the ages of 56 to 65, small investment changes will be made automatically to your account. This will gradually reduce your exposure to growth assets and will reduce your investment risk over time.

Enjoy Phase (members 65 and over)

In retirement, you will generally have a long-term investment horizon. Investing in some growth assets will help your savings, and your income, last for you. During the Enjoy phase of MySuper Lifecycle, 100% of your super is invested in the Conservative Balanced option. This option still takes advantage of growth opportunities but has less exposure to higher risk investments.

During the Enjoy phase of MySuper Lifecycle, 100% of your super is invested in the Conservative Balanced option. This option still takes advantage of growth opportunities but has less exposure to higher risk investments.

Read more about the 11 MySuper Lifecycle stages and how they work in our Investment and Fees Handbook

This table will help you understand our fees and costs.

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Types of fees and costs A little about them
Administration fees and costs

These fees relate to the cost of running the fund. These are fixed and deducted from your account.

If you have a Future Saver account, you pay:

  • an account-keeping fee of $52 per year, plus
  • an asset-based administration fee of 0.15% per year ($75 per $50,000), capped at $62.50 per month plus
  • Costs paid from reserves of 0.01% for the  2022-23 financial year.
Investment fees and costs

Investment fees and costs are variable, which means they can change from year to year. They are included in the calculation of the unit price of the investment option and are made up of:

  • Investment base fees. These include fees paid to investment managers and the costs of the Aware Super Investment team for managing your money.
  • Performance fees. These are fees paid to investment managers when they exceed their performance targets.
Transaction costs These costs are variable, which means they can change from year to year. These costs are included in the calculation of the unit price of the investment option. They include the costs of buying or selling an investment, as well as the costs of researching a potential investment.

Other fees and costs may apply, for example, if you have insurance cover.

Read more about fees and costs in our Investment and Fees Handbook