Jane Hume (Victoria, Liberal Party, Minister for Superannuation, Financial Services and the Digital Economy) Share this | Hansard source

Well, at present, Australian households pay around $30 billion a year in superannuation fees. Now, to put that into context, it's actually more than the $27 billion that households spend on energy bills and the $12 billion that they spend on water bills.

It's now easier than ever for Australians to ensure that they are not being ripped off by their fund, with the introduction of the YourSuper comparison tool. More than 275,000 Australians have in fact already accessed the YourSuper comparison tool in just the two months since it was launched, and we know that many more Australians will now use that tool to compare their super fund after those performance results were released today. Finally, superannuation members can compare apples with apples. It's so simple to use: just jump on your search engine and look up 'super comparison tool'. Click on the ATO website, and, the next thing you know, you'll be comparing funds. You can even personalise it—your fund; your balance—through the ATO portal, through the MyGov website. It's never been easier. (Time expired)