Protecting your superannuation from scams

Superannuation is designed to support your future lifestyle and financial independence. Unfortunately, scammers are increasingly targeting Australians by presenting risky or fraudulent opportunities as legitimate investment or super strategies.

Many of these approaches appear professional and convincing — which is why understanding a few warning signs can make a significant difference.

Pressure to act quickly

Scammers often create urgency, encouraging people to switch investments or transfer super without giving them time to seek proper advice.

Promises that sound unusually good

Be cautious of guaranteed returns or claims that an opportunity is “too good to miss.” Legitimate investments always involve some level of risk.

Unexpected contact

Phone calls, emails or social media messages about your super from someone you don’t know should always be treated carefully.

Unfamiliar investment structures

If an investment feels overly complicated or difficult to explain clearly, it’s worth pausing and seeking professional guidance.

A common example

A retiree receives a phone call offering access to a “high-performing private investment” through their super. The opportunity appears professional and urgent, with promises of strong returns. After transferring funds, communication becomes inconsistent and the investment cannot be verified.

Quality financial advice should help you feel informed, comfortable and confident — never pressured into making quick decisions.

If you’re ever unsure about an investment opportunity or communication relating to your super, speaking with your adviser before acting can provide valuable peace of mind. Before making changes to your super:

• Take time to review the information
• Speak with a trusted adviser
• Be cautious of pressure or urgency
• Verify who you’re dealing with