Mercer Super Trust — superannuation fund performance
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Mercer Super Trust reported A$81.2bn of total assets for 1,053,639 member accounts (average balance A$75k) in APRA's fund-level statistics for the year to 30 June 2025, with a one-year rate of return of 11.3%.
| Total assets | A$81.2bn |
| Member accounts | 1,053,639 |
| Average member balance | A$75k |
| 1-year rate of return | 11.3% |
| 5-year rate of return (annualised) | 8.1% |
| 10-year rate of return (annualised) | 6.6% |
| Investment options offered | — |
What running the fund costs
For its reporting year ended 30 June 2025, Mercer Super Trust ran on an operating expense ratio of 0.1% — the running cost per dollar of savings (0.5% is 50 cents per A$100 a year). Payments to related parties — companies connected to the fund's own trustee or owner group — came to A$228.1m, equal to roughly 112.5% of its administration bill (a related-party payment is disclosed, not improper — but it is worth knowing who the fund pays).
| Operating expense ratio | 0.1% |
| Investment expense ratio | 0.2% |
| Administration and operating expenses | A$202.7m |
| Marketing spend | A$14.8m (about A$14 per member account) |
| Executive remuneration (expensed to the fund) | A$3.3m |
| Director remuneration | A$974k |
| Payments to related parties | A$228.1m |
The annual performance test
Every year the regulator tests most super products against a benchmark portfolio — fail twice and the product must close to new members. As at 30 June 2025, 25 of this fund's products and options were tested, and every one of them passed:
| Product / option | Type | Test result | 10-yr return | Admin fee |
|---|---|---|---|---|
| Mercer SmartPath | MySuper | Pass | — | 0.1% |
| Corporate Superannuation Division — Mercer High Growth - CSD | Choice | Pass | 8.1% | 0.2% |
| Corporate Superannuation Division — Mercer Growth - CSD | Choice | Pass | 7.0% | 0.2% |
| Corporate Superannuation Division — Mercer Select Growth - CSD | Choice | Pass | — | 0.2% |
| Mercer WGSP MySuper | MySuper | Pass | — | 0.1% |
| Mercer Tailored (CRG) MySuper | MySuper | Pass* | — | 0.1% |
| Virgin Money MySuper | MySuper | Pass | — | 0.5% |
| Corporate Superannuation Division — Mercer Conservative Growth - CSD | Choice | Pass | 4.4% | 0.2% |
| Corporate Superannuation Division — Mercer Moderate Growth - CSD | Choice | Pass | 5.8% | 0.2% |
| Macquarie Group Superannuation MySuper Product | MySuper | Pass | 6.7% | 0.1% |
| Corporate Superannuation Division — Mercer Enhanced Passive Growth - CSD | Choice | Pass | 7.5% | 0.2% |
| Tailored MySuper - Lutheran Superannuation | MySuper | Pass | 7.8% | 0.1% |
Showing 12 of 25 tested products/options for this fund (largest first).
Does the insurance pay out?
Most super accounts carry insurance, paid from your balance. The admittance rate is the share of finalised claims the insurer accepted in the year to 30 June 2025 — the single best number for "does this cover actually pay". Over the year it collected A$284.4m in premiums and paid out A$599.7m in claims (claims paid in a year often relate to earlier years' cover, so this is a cash-flow picture, not a loss ratio). This fund places some cover with an associated insurer — an insurance company connected to its own trustee or owner group (disclosed by APRA, worth knowing when comparing premiums).
| Cover type | Claims accepted (1-yr) | Claims paid | Premiums collected | Insurer |
|---|---|---|---|---|
| Life insurance (death cover) | 98.1% | A$236.6m | A$127.2m | AIA Australia Limited, AMP Life Limited, OnePath Life Limited, TAL Life Limited, The Colonial Mutual Life Assurance Society Limited |
| Total & permanent disability (TPD) | 82.8% | A$274.9m | A$126.4m | AIA Australia Limited, AMP Life Limited, OnePath Life Limited, TAL Life Limited, The Colonial Mutual Life Assurance Society Limited |
| Income protection | 94.6% | A$88.2m | A$30.7m | AIA Australia Limited, OnePath Life Limited, TAL Life Limited, The Colonial Mutual Life Assurance Society Limited |
The gender gap in this fund
In Mercer Super Trust, women's average balance was 43.0% lower than men's — from the fund-level member demographics APRA last published for the year to 30 June 2022:
| Average balance — female members | A$63k |
| Average balance — male members | A$110k |
| Member accounts (female / male) | 118,518 / 177,282 |
Compare Mercer Super Trust with similar funds
The funds closest to Mercer Super Trust in size, side by side — each with its own page for the fees, insurance and performance-test detail:
| Fund | Assets | 1-yr return | 10-yr return | Why comparable |
|---|---|---|---|---|
| ASGARD Independence Plan Division Two | A$78.9bn | 9.6% | 5.4% | Similar size |
| IOOF Portfolio Service Superannuation Fund | A$72.1bn | 9.6% | 5.5% | Similar size |
| MLC Super Fund | A$94.0bn | 9.6% | — | Similar size |
| Wealth Personal Superannuation and Pension Fund | A$68.2bn | 9.8% | 5.4% | Similar size |
| Military Superannuation & Benefits Fund No 1 | A$99.8bn | 1.6% | 2.1% | Similar size |
| CareSuper | A$62.3bn | 10.1% | 6.7% | Similar size |
Questions this page answers
How big is Mercer Super Trust?
Mercer Super Trust held A$81.2bn in total assets for 1,053,639 member accounts in the APRA fund-level statistics for the year to 30 June 2025.
What return has Mercer Super Trust delivered?
Mercer Super Trust reported a 11.3% one-year rate of return, and 6.6% a year over the past ten years, at whole-of-fund level in the APRA fund-level statistics.
What does Mercer Super Trust charge in fees?
Mercer Super Trust reported an operating expense ratio of 0.1% and an investment expense ratio of 0.2% for its reporting year ended 30 June 2025 — the running cost per dollar of savings (APRA fund-level statistics).
Did Mercer Super Trust's products pass the performance test?
25 of Mercer Super Trust's products and options were tested against the regulator's annual performance test as at 30 June 2025, and every one passed.
Does Mercer Super Trust's insurance pay out?
In its latest reported year Mercer Super Trust's default cover collected A$284.4m in premiums and paid A$599.7m in claims, per the APRA fund-level statistics.
See also: Australian super in numbers — marketing spend, expenses, the gender gap and two decades of consolidation across all APRA-regulated funds · all tracked plans.