Independent research validates super fund advertising

Spending on marketing and advertising by superannuation funds has been under regulatory scrutiny, but new research suggests that funds are unlikely to be pulling back any time soon.

The Investment Trends 2025 Super Member Engagement Report has revealed that funds that had continued strong investment in advertising over the past 12 months had won new ad retained existing members.

It said that around 6% of existing members, equivalent to approximately one million Australians were prompted by advertising to think more about their superannuation while 5% of new super fund members said advertising influenced their decision to open a new account in the past year, equivalent to around 51,000 Australians.

The Investment Trends analysis clearly pointed to a correlation between net promoter scores and increased outbound communications and advice-led support.

It said 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%,” the report said. “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.

It said 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,” According to Investment Trends research director, Olivia Beringer.

“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.”

Beringer said advertising was continuing to play a vital role in super fund strategy.

“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.”