Aware Super Pty Ltd

What Aware Super Pty Ltd does

Aware Super is a profit-for-members Australian superannuation fund that manages retirement savings on behalf of more than 1.2 million members across the country. Originally established in 1992 as First State Super and rebranded in 2020, the fund has grown through a series of mergers — including VicSuper, WA Super, the Victorian Independent Schools Superannuation Fund (VISSF), and TelstraSuper — to reach $240 billion in funds under management as of 30 June 2026, with a proposed merger with Prime Super targeted to lift FUM to approximately $254 billion. Members are concentrated in the education, healthcare, and public sector segments, with compulsory employer Superannuation Guarantee contributions forming the bulk of inflows.

The fund operates an integrated investment, administration, and member-services platform. Its investment function is staffed by 150+ in-house investment professionals who manage both listed and direct (unlisted) investments across equities, fixed income, property, infrastructure, and private equity, supported by a London office for international deal sourcing. Member services are delivered through a digital platform comprising a mobile app, Member Online portal, and retirement planning tools, with 26 office locations across Australia providing in-person support. The fund has won Chant West Pension Fund of the Year in 2024, 2025, and 2026, and reports a 9.63% p.a. ten-year High Growth return and 11.9% return for FY24-25.

Aware Super earns revenue primarily through administration fees and investment management fees charged on FUM, with additional income from performance fees on certain direct investments. As a profit-for-members mutual, surplus is returned to members via competitive fees and investment performance rather than distributed to shareholders. Governance is provided by a Board that has been building AI oversight frameworks, and operational technology includes anomaly detection for cybersecurity. Customer acquisition is structurally anchored by employer default-nomination relationships across NSW, Victoria, Western Australia, and corporate Australia.

Name

Aware Super Pty Ltd

Legal name

Aware Super Pty Ltd

Website

https://aware.com.au

Company type

Private

Founded year

1992

Operating status

Operating

Short description

Aware Super is an Australian profit-for-members superannuation fund managing $240B across 1.2M+ members, primarily in education, healthcare, and public sector segments, with 150+ in-house investment professionals and a digital member platform.

Ownership category

akta.pro rank

Product category

Superannuation Fund Management

NAICS

Pension Funds (525110), Pension Funds (52511)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industries

Retirement Plan Participant Advice & Managed Accounts (FSAEABAF), Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK)

Keywords

• Superannuation fund management
• Retirement savings products
• Investment management services
• Pension income accounts
• Financial planning advice

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices26 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Superannuation Management Fees: As a profit-for-members superannuation fund, Aware Super charges annual administration fees and investment management fees which are deducted from member balances. Fees are competitive according to Chant West Super Fund Fee Survey. The fund does not have external shareholders - profits are returned to members.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Aware Super is a profit-for-members Australian industry superannuation fund that manages retirement savings on behalf of over 1.2 million members with approximately $240 billion in funds under management. The fund offers accumulation accounts (Future Saver), retirement income accounts, transition-to-retirement accounts, multiple investment options, insurance through super, and financial advice delivered through digital platforms, walk-in offices, and a national adviser network.

Product overview

Aware Super is a profit-for-members superannuation fund offering a unified platform combining super accumulation accounts (Future Saver), retirement accounts (Retirement Income, Retirement Transition), investment management, insurance, and financial advice. The core digital ecosystem includes the award-winning mobile app and Member Online portal, complemented by planning tools (My Retirement Planner, My Retirement Manager, Learn Hub with 100+ videos), the Adviser Portal for financial advisers, and calculators. The fund also provides insurance through super and health & wellbeing services. MySuper Lifecycle auto-adjusts investment mix by age. A new digital advice platform was launched to help retirees optimize their pension decisions.

Differentiator

Problem solved

Functional benefit

Products and services

• Future Saver Account Superannuation accumulation account for working Australians saving for retirement, including the High Growth investment option returning 9.63% p.a. over 10 years to 30 June 2026.
• Retirement Income Account Ongoing retirement income account providing regular payments to members who have retired, with reduced administration fees from 1 June 2025.
• Retirement Transition Account Transition-to-retirement account allowing members to access part of their super while still working, with reduced administration fees and caps from 1 June 2025.
• Investment Options Range of investment options including High Growth, diversified options, MySuper Lifecycle, and low-cost indexed options managed with a responsible investment approach by 150+ investment professionals.
• Insurance through Super Range of insurance options available through super accounts, including life insurance, total and permanent disability cover, and income protection.
• Health and Wellbeing Services Mental health, nutrition, fitness and grief support services available to members at no extra cost.
• Advice and Guidance Financial advice available online, over the phone, or in person, including intra-fund advice about Aware Super accounts at no extra cost and broader needs advice for a fee. Provided by Aware Financial Services Australia Limited.
• Aware Super Mobile App Mobile application for iOS and Android enabling members to check transactions, balance, fees, update details, make contributions via BPay, and consolidate super, with biometric authentication (face/fingerprint) and multi-factor authentication.
• Member Online Portal Secure online portal enabling members to access and manage their super accounts, view transactions, switch investment options, and update details.
• My Retirement Planner Online planning tool where members can model their retirement, incorporating family situation, other assets, age pension eligibility, and retirement goals. Over 130,000 members have used this tool.
• My Retirement Manager Digital tool for members closer to or in retirement to set up sustainable income that satisfies their lifestyle needs.
• Adviser Portal Digital platform for independent financial advisers to access Aware Super tools, resources, and support when advising their clients.
• Education Events In-person and online events, seminars and webinars on super and finance topics delivered for member education.

Quantifiable outcome

• 9.63% p.a. return over 10 years for High Growth option (to 30 June 2026)
• +4 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered major and minor.

• Prime SupermajorStrategic or Co-development Partner · 1 August 2026Aware Super and Prime Super announced plans to explore a Successor Fund Transfer (SFT) merger in August 2026. The proposed SFT would create a fund with approximately $254 billion in funds under management serving more than 1.4 million members.
• TelstraSupermajorStrategic or Co-development Partner · 1 May 2026TelstraSuper and Aware Super merger successfully completed in May 2026, creating a $235 billion fund with 1.3 million members. The merger combined complementary strengths of both funds, particularly around retirement and advice specialists.
• Wesfarmers HealthminorOthersBoard member Debora Picone serves as Advisor to Wesfarmers Health.
• RedkiteminorOthersCEO Deanne Stewart serves as Director of Redkite, a cancer support organization.
• Super Members CouncilminorOthersCEO Deanne Stewart serves as Director of Super Members Council, the industry body representing super fund members.
• Association of Super Funds Australia (ASFA)minorOthersChief Risk Officer Jane Couchman serves as Director of ASFA, the peak body for superannuation funds.
• Cochlear LimitedminorOthersBoard Chair Christine McLoughlin serves as Independent Director of Cochlear Limited, a medical device company.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• AustralianSuper: Australia's largest super fund with ~A$300B AUM and a profit-for-members structure. Directly comparable as an industry super fund offering accumulation, retirement and advice products to working Australians.
• UniSuper: Industry super fund focused on the higher education and research sector with ~A$130B AUM. Comparable as a profit-for-members super fund with strong digital infrastructure and similar professional member base.
• Vision Super: Industry super fund serving the education, emergency services and local government sectors with ~A$12B AUM. Comparable as a not-for-profit super fund with overlapping education-sector member base.
• Hostplus: Industry super fund focused on hospitality, tourism, sport and retail with ~A$100B AUM. Comparable as a profit-for-members super fund with similar accumulation, retirement and digital member experience offerings.
• HESTA: Industry super fund for health and community services workers with ~A$80B AUM. Directly comparable member demographic (healthcare workers) and profit-for-members structure; Lloyd Williams joined Aware's board after serving as HESTA trustee.
• Australian Retirement Trust: Formed from the 2022 merger of Sunsuper and QSuper, ART manages ~A$240B for ~2.2M members. Closest direct peer by AUM scale, profit-for-members structure and merger-driven growth strategy.
• Cbus: Industry super fund for the construction, building and related industries with ~A$90B AUM. Comparable as a profit-for-members super fund offering accumulation and retirement income products with direct investment capabilities.
• REST (Retirement Employees Superannuation Trust): Industry super fund serving retail and hospitality workers with ~A$80B AUM. Comparable as a profit-for-members super fund offering accumulation, retirement and digital advice products.

Broad incumbents

• Mercer Australia: Global wealth and superannuation administration provider offering corporate super and individual pension products in Australia. Comparable as a competitor in the retail super and financial adviser platform markets, but serves as an incumbent across a broader portfolio.
• Insignia Financial (formerly IOOF): Large ASX-listed wealth management group offering superannuation, investment and advice products. Comparable in super and pension product offerings, but operates as a commercial incumbent rather than a profit-for-members fund.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/AwareSuper
• LinkedInlinkedin.com/company/awaresuper
• Instagraminstagram.com/awaresuper

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aware Super Pty Ltd