Warning signs of high-risk super schemes
Following the collapse of the First Guardian and Shield schemes, we urge members to look out for red flags including social media ‘free surveys’, cold calling, urgency, and claims of very high returns before making decisions about your super.
High-risk super schemes are on the rise
Super and personal information are being targeted by high-risk schemes. Be on the look out for high-pressure sales tactics.
What are the tactics?
Posts and videos on social media inviting you to ‘compare your super’ are often promoted by a ‘lead generator’ - marketing businesses that target members of the public to get your personal information.
These are sales teams, not financial advisers. They earn a commission by on-selling personal information about someone’s super.
The regulator has warned about these tactics.
"Be on RED ALERT for clickbait advertising and promises of unrealistic returns."
ASIC, October 2025
Be on red alert
Scammers and some comparison sites may push you to share your personal information - or worse, your super savings. Don't let them make you a target.
If you see these tactics, it's time to pause and protect your super:
- Too good to be true
- Pressure to act fast
- Requesting for personal details
- Claims your fund is underperforming
- Unlicensed advisers
Protect what you’ve built
Your super savings shouldn’t be influenced by pressure or offers that sound too good to be true. Don’t risk one click undoing years of your hard work.
Pause before you act to protect your super
Be on alert for super scams.