Superannuation is a long game, but if you’re tracking it this year, you’ve probably noticed a bit of a bumpy ride. After a stellar run, November saw the first dip in eight months. So, what’s going on with your super, and what does this mean for the rest of the year?
November’s Dip: A Blip or a Trend?
In November 2025, Australian super funds suffered their first monthly loss in over half a year, as the local stock market took a hit, dropping 3%. The typical super fund, according to research from Chant West, fell by 0.4% for the month. But before you get too worried, it’s important to note that this wasn’t a disaster—it’s just a natural part of market fluctuations.
In fact, super returns are still on track for a strong year overall. With less than two weeks remaining in 2025, the annual return is sitting at 8.5%, thanks in large part to solid performances from international markets. International shares, which make up a significant portion of super fund allocations, delivered over 17% growth this year. So, despite the dip, your super is still likely to end the year on a positive note.
The Role of International Markets in Superannuation Performance
Chant West’s Mano Mohankumar highlighted that international markets have been a major driver of this year’s strong performance, reports The Australian. With over 30% of typical super fund allocations tied to international shares, the performance of global markets—especially in the U.S. and Europe—has had a big impact on returns. While Australian shares struggled in November, international stocks have been buoyed by positive global trends, including strong economic recoveries in key markets.
However, it’s worth noting that these market movements are part of the larger picture. Mohankumar pointed out that while November’s dip was a bit of a setback, it’s not something to panic over. Super funds are built for the long term, and these kinds of short-term fluctuations are expected along the way. Since compulsory super started in 1993, there have only been five negative years for super funds—so the occasional dip doesn’t make it an automatic cause for concern.
Long-Term Outlook: Staying the Course
So, what should you be doing with your super as we head into 2026? Well, if you’ve been tracking it closely, it’s tempting to react to short-term dips or spikes. But the advice from experts like Mohankumar and SuperRatings is to stay the course. “It is important to remember the long-term nature of superannuation,” says Kirby Rappell, director at SuperRatings. “the benefit of holding steady to your long-term strategy should we see increased ups and downs over the second half of the 2026 financial year.”
With inflation and interest rates uncertain in 2026, super fund members are encouraged to keep an eye on their long-term strategy rather than make drastic changes based on temporary fluctuations. Super returns have been strong for most of 2025, and it’s expected to be another positive year—just not as extreme as last year’s double-digit returns.
A Long-Term Success
It’s easy to get bogged down by the numbers, especially when they’re moving in the wrong direction for a month or two. But, as Mohankumar reminds us, super is about the long game. Since the introduction of compulsory super, the average annual return has been about 8%—far outpacing the target of CPI plus 3.5%. That’s something to feel good about, even if your super fund hit a rough patch in November.
In the end, the takeaway is clear: Don’t sweat the small stuff. Whether your super had a little stumble last month or has had a stellar run, remember that long-term growth is what really counts. Stay focused on the bigger picture, and your super should keep moving forward.
