Member satisfaction lifts as super funds compete on service, marketing and retention, finds flagship report
Investment Trends has released the 17th edition of its 2025 Super Member Engagement Report, Australia’s flagship study offering an in-depth analysis of superannuation fund member sentiment, attitudes, and needs across the industry.
The report shows that industry NPS (Net Promoter Score) and member satisfaction both improved over the past year. NPS at a market level notably climbed 15 points in 2025 from -19% in 2024 to -4% in 2025, with most funds showing consistent gains. Leaders in this key measure were ESSSuper and UniSuper at +20% This uplift was linked to stronger outbound communication and advice-led support.
Most improved NPS performers included Mercer, Colonial First State, AustralianSuper, MLC, and Australian Ethical.
Overall member satisfaction rose from 66% to 68%, with retail funds closing the gap, though industry fund members remained more satisfied on average.
These results confirm that service-led strategies are paying off,” said Olivia Beringer, Research Director at Investment Trends. “Funds that prioritise clear, consistent, and human-led service are seeing stronger trust and loyalty. The uplift in NPS reflects rising member confidence, and this is emerging as a critical competitive edge. The challenge now is to sustain this momentum.
The data shows that funds continued strong investment in advertising over the past 12 months won new and retained existing members, with messaging starting to pivot toward retirement. Around 6% of existing members, equivalent to approximately 1M Australians, were prompted by advertising to think more about their super. On the acquisition front, 5% of new super fund members say advertising influenced their decision to open a new account in the past year, equivalent to approximately 51,000 Australians.
“Advertising continues to play a vital role in super fund strategy,” said Beringer. “It’s not just about visibility, when funds clearly communicate their value, they can drive action, shape perception, and build momentum for stronger long-term engagement.”
The report also highlights that both switching and intentions to switch declined in the last 12 months, coinciding with the lowest job mobility levels recorded since 2022. Switching activity hit a three-year low, with just 7% of members changing their main super fund in the past 12 months, and only 5% indicating an intention to switch in the next 12 months (down from 10%).
This year’s report clearly show we are seeing a pause in churn and a lift in satisfaction”, said Beringer. “For super funds, this is a window of opportunity to deepen member loyalty. Focusing now on impactful retention drivers will help future-proof relationships with members as external market dynamics shift ”.
