Asset Types in Canwi
Accumulation Super
Accumulation-based super is the standard superannuation structure in Australia. Your retirement balance is simply the sum of all contributions made into your account, plus investment earnings, minus fees and tax - there's no guaranteed payout. You carry the investment risk, and your balance moves with market performance.
This is different to a defined benefit fund, an older, mostly-closed style of super scheme (common in public sector funds) where the employer guarantees a set payout based on salary and years of service, regardless of investment performance.
Accumulation vs pension
The two phases of superannuation. You buy a pension with your accumulated balance.
Phase 01
Accumulation
Working life. Your balance grows.
- Earnings:
- taxed at 15% inside the fund
- Capital gains:
- 15% in accumulation - reduced to 10% if the fund has owned the asset for 12 months or more
- Access:
- preserved until a condition of release
Buy a pension
Phase 02
Pension
Drawdown. Income & lump sums.
- Earnings:
- 0% tax inside the fund
- Income from age 60:
- generally tax-free
- Drawdown:
- minimum % by age, no maximum
The transfer balance cap limits how much you can move into pension phase.
How it works
- Contributions in - employer, personal, and government contributions are added to your account (see contribution types below)
- Investment growth - your balance is invested according to your chosen option (e.g. Growth, Balanced), and grows or shrinks with market returns
- Tax - contributions and earnings are taxed concessionally while in the accumulation phase (generally 15%)
- Access - once you reach preservation age and retire, you can draw your balance as a lump sum, convert it to an account-based pension, or a mix of both
Contribution types
- Superannuation Guarantee (SG) - compulsory employer contributions, currently 12% of your ordinary time earnings
- Concessional contributions - before-tax contributions (SG, salary sacrifice, personal deductible contributions), taxed at 15% going in, subject to an annual cap
- Non-concessional contributions - after-tax contributions, subject to their own annual cap and eligibility rules based on your total super balance
- Salary sacrifice - an arrangement to direct part of your pre-tax salary into super, counted as a concessional contribution
- Catch-up (carry-forward) concessional contributions - lets eligible members with a total super balance under $500,000 use unused concessional cap space from the past five years
- Government co-contribution - the government matches personal after-tax contributions for eligible low-to-middle income earners
- Spouse contributions - after-tax contributions made into a spouse's super account, which may attract a tax offset
Investment options and typical returns
Most super funds offer pre-mixed investment options that vary by how much is allocated to growth assets (shares, property, infrastructure) versus defensive assets (bonds, fixed interest, cash). More growth exposure means higher long-term return potential, but greater short-term volatility.
There's no industry-standard definition of these labels - allocations vary between funds, so treat the below as typical ranges rather than fixed rules.
| Option | Growth asset allocation | 10-yr historical average return* | What it means |
|---|---|---|---|
| Conservative | 21-40% | 4.6% p.a. | Prioritises capital stability over growth. Lower volatility, but lower long-term growth - generally suited to those close to or in retirement. |
| Balanced | 41-60% | 6.1% p.a. | A mix of growth and defensive assets aiming for moderate, steadier growth with less volatility than Growth options. |
| Growth | 61-80% | 7.5% p.a. | Weighted toward shares and other growth assets for stronger long-term growth, with more pronounced short-term ups and downs. Most Australians' default MySuper option sits here. |
| High Growth | 81-95% | 9.0% p.a. | Mostly shares and other growth assets. Higher long-term return potential, but larger short-term swings - generally suited to long investment timeframes. |
| All Growth | 96-100% | 9.0% p.a. | Almost entirely shares and other growth assets. Highest volatility of all categories - suited to very long timeframes (15+ years), typically younger members. |
*Median return across all funds in each category, net of investment fees and tax, before admin fees. 10 years to 31 December 2025. Source: Chant West Super Fund Performance Survey.
On the numbers: these are long-term medians, not guarantees or forecasts - individual funds and future periods will differ. 2025 was a stronger-than-typical year (Growth funds returned 9.3% for the calendar year alone), so the 10-year figures are a more reliable guide to “typical” than any single year. Over the ~33 years since compulsory super began, the median Growth fund has returned around 8% p.a., and a portfolio with heavy growth exposure should expect a negative return roughly once every five years. Past performance isn't a reliable indicator of future returns.
Related terms
See it in your plan
Canwi models Australian tax, super, and pension rules so you can explore decisions like this in a full financial plan.