Comprehensive Product Performance Package 2026 Methodology Paper

APRA has published the methodology paper underpinning the 2026 Comprehensive Product Performance Package, the annual publication that brings together investment return, fee and cost data for MySuper products and a segment of Choice superannuation products, alongside the results of the legislated annual performance test. The methodology paper explains the population of products covered, the metrics used and how the data is compiled, and is released together with an insights paper and statistical publications in excel and csv formats.

The 2026 performance test assessed 547 superannuation products, representing 61 per cent of APRA regulated superannuation member benefits, of which 12 did not pass. One of 50 MySuper products failed, the first MySuper failure since 2023, along with 11 of 141 platform trustee directed products, five of which have now failed for at least two consecutive years. APRA Chair John Lonsdale noted that while the performance test has reduced underperformance over the past five years, this year's results show pockets of underperformance remain and reinforce the need for trustees to take timely and effective action.

The package is used by APRA as part of its supervision of registrable superannuation entity licensees and is also a reference point for trustees, members, policymakers and advisers assessing comparative product performance. It is relevant to superannuation trustees whose products are, or may become, subject to the performance test and the associated heatmap style comparisons, and to those advising trustees on how published results may inform APRA's supervisory attention.