Can your super fund replace a financial adviser?

Can't afford financial advice? Super funds are stepping in with low-cost and digital options that could help you retire with more.

Today's 60-64-year-olds have average super savings of $355,451. On the face of it, these seniors are well placed to enjoy a decent retirement. But there's a catch. We're living longer, have higher expectations for retirement and the age pension doesn't kick in until 67 years. As a result, our super has to do a lot of heavy lifting.

Australians are concerned about this. Research by UniSuper shows more than 90% of us worry about retirement. These uncertainties help explain why retirement planning is the leading driver for Australians seeking financial advice. That's great for those who can afford it, but many can't.

The median cost of ongoing advice in 2025 was $4668, according to online financial advice service Adviser Ratings. As a result, one in two Australians has never received advice on preparing for retirement.

The good news is super funds are filling the gap. Many have expanded their advice offerings, supported by new legislation that allows funds to provide limited personalised advice and deduct the cost from a member's account.

Every bit of quality advice helps. Aware Super reports members who received financial advice had, on average, 22% more in super, which equates to an extra $150,000 in retirement savings. With this in mind, let's look at the advice available through super funds.

What advice can super funds legally provide?

Most funds offer general advice through a phone or video call. It's not entirely free, as the cost is included in fund fees. But you've already paid those fees, so why not take advantage of the service?

General advice is limited to topics relating to your super and your fund's product offerings. While it doesn't consider your personal circumstances, it can help you get to know your super better.

What is limited personal advice through super funds?

For single-issue queries, such as investing in a transition-to-retirement account, your fund may offer non-personalised limited advice. The lines are blurred on cost. Some funds charge for this advice, others don't.

More broadly, several funds provide advice that sits somewhere between general and comprehensive advice. Cbus Super, for example, offers Advice Essentials Plus. It costs $990 and gives members access to retirement planning advice relating to Cbus Super products, potentially even taking into account the needs of a non-member spouse or partner.

Brighter Super offers a retirement health check at no additional cost - the service is covered by existing administration fees.

Members receive a plan showing their retirement outlook, including age pension eligibility and how long their savings could last.

How much does comprehensive retirement advice cost?

Comprehensive advice, which takes your full situation into account, is regarded as the gold standard. It may be delivered by a fund's in-house advisers or through a referral to an external service. The common thread is that it doesn't come cheap.

As a guide, Hostplus members can have their progress towards retirement assessed for a fee of $295. From there, comprehensive advice costs from $1500 to $4000.

At Vision Super, fees for comprehensive advice start at $2090. Fees for Brighter Super members start at $990.

Can digital tools replace retirement advice?

The thing is, you may not need to pay for advice at all. An increasingly sophisticated range of digital tools is available, particularly through the larger funds.

Aware Super, for example, offers My Retirement Planner, an online calculator that uses a member's current details to answer three key questions:
• How much money do I need in retirement?
• What will my super balance be when I retire?
• What will my retirement income look like, including possible age pension payments?

Building on this, in late 2025 Aware Super launched Retirement Manager. It's a digital tool that helps retirees set up an income stream, choose an investment option and model different income and spending scenarios.

Steve Travis, Aware Super's group executive for member growth, says Retirement Manager "takes the stress out of retirement planning, giving members the power and flexibility to create a personalised plan that can be easily adjusted as their needs and circumstances change".

Other funds are also investing in digital advice. MLC Super members can use Money View, an online tool that shows whether you're likely to have enough for retirement. It's backed up by MLC's Retirement Projector, which reveals whether your super is retirement ready.

Hostplus, winner of Money's 2026 Best of the Best award for Innovation in Digital Advice Tools, has developed SuperSmart, an education-led digital tool. Hostplus's Maurizio Lombardi describes SuperSmart as "a one-stop shop for members looking to uplift their super knowledge or seek advice, all seamlessly integrated to match individual goals and preferences".

Are super fund seminars worth attending?

Digital advice can be convenient and user-friendly. But there can be something very reassuring about sitting in a room full of like-minded people, listening to an expert explain the finer points of super and retirement planning.

That's exactly what fund seminars offer. Widely run by the major funds and usually free of charge, these events are a chance to learn, ask questions and walk away better informed.

How to get retirement advice through your super fund

The bottom line is the advice options provided by a super fund should be on your radar. They're likely to become increasingly important as you approach retirement.

As a starting point, pick up the phone and talk to your fund. The advice you receive may cost nothing, but it could mean a more rewarding retirement.

Correction: A previous version of this story incorrectly stated that a fee applied to the Brighter Super retirement health check. The information has now been updated.

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