Super scams are real: Here’s how to protect what’s yours

Ever received a call from someone claiming they can help you ‘get more from your super’? Or maybe you’ve seen online ads promising early access to your super with just a few clicks. It might be tempting to explore, but what happens next could be a scam.

Before making any decisions, take a moment to pause and read our guide on how to protect your super.

What do super scams look like?

Superannuation scams come in many forms, but they all have one goal: to get access to your retirement savings. Scammers might contact you by phone, email, or social media, often pretending to be from a legitimate financial institution (such as a bank or super fund). They may offer:

• Early release of super. Scammers might say they can help you access your super to pay off debts or make a special purchase, but they’re not being genuine. Early release of super is only allowed under very specific circumstances.

• Help setting up a self-managed super fund (SMSF). They’ll promise more control or better returns, but the real goal is to get your money into an account they control.

• Fake investment opportunities. These might include cryptocurrency, foreign bonds, or high-return schemes that sound too good to be true.

Scammers are skilled at building trust and making their offer sound convincing. They often use professional-looking websites, fake documents, and even stolen Australian Financial Services (AFS) licence numbers to appear trustworthy.

How to spot the red flags

Here are some signs that something might not be right:

• You’re contacted out of the blue by someone offering to ‘help’ with your super.

• The offer sounds urgent or too good to be true.

• You’re asked to share personal details, passwords, or banking information.

• You’re encouraged to transfer your super to a new fund or self-managed super fund without proper advice.

• You’re told you can access your super early for a fee.

If something doesn’t feel right, trust your instincts and take a moment to consider before acting.

How to protect your super

Here are some simple steps you can take to keep your super safe:

• Check your super account regularly. Super SA has strong security protocols in place to protect your account from fraud and unauthorised transactions. Still, it’s a good idea to log in now and then to check your balance and transactions for any unusual activity.

• Keep your contact details up to date with us. You can check your details – and add in any missing information like your mobile and email address – through the member portal. That way, we can reach you quickly if we notice anything suspicious.

• Know the rules. Super can only be accessed early in very limited circumstances. If someone tells you otherwise, it’s likely a scam. But check with us, that’s what we’re here for.

• Verify who you’re dealing with. If someone calls claiming to be from Super SA but the call doesn’t sound right, hang up and contact us directly using details you’ve found yourself (not the ones they give you).

• Check credentials. Use ASIC’s Professional Registers to confirm if someone is licensed to give financial advice.

• Be cautious online. Don’t click on suspicious links or share personal information on social media.

What to do if you think you’ve been scammed

If you suspect a scam, act quickly:

1. Contact Super SA immediately in case we need to block your account. Call us on 1300 369 315 or complete our online form.

2. Report the scam to ScamWatch and ASIC.

3. Protect your identity by contacting IDCARE for free support.