Several Australian superannuation funds have been targeted in a wave of suspected cyber attacks, with members of one major fund losing a combined $500,000 in retirement savings.
Account Access Disrupted, Members Distressed
Members from AustralianSuper — the country’s largest retirement fund with more than 3.5 million members — have reported being unable to access their accounts, with some seeing a $0 balance. The fund confirmed on Friday that its platforms are experiencing intermittent outages due to a surge in traffic across its call centre, online member portal, and mobile app.
“Even if you’re seeing a $0 balance, your account remains secure,” AustralianSuper said in a statement, adding that the issue is temporary and teams are working urgently to restore access.
Still, dozens of concerned members have told ABC News they’ve had difficulty logging in, and many are anxious about the safety of their funds.
“It’s very disconcerting to see a $0 balance on a Friday,” one member said.
“There’s no contact via phone, and no way to check if our super is safe,” another added.
Hundreds of Attacks Attempted, Four Members Affected
ABC News understands that AustralianSuper has faced around 600 attempted cyber attacks in the past month alone, with four members losing a total of $500,000.
Other superannuation providers — including Rest, Hostplus, Insignia, and Australian Retirement Trust — were also targeted. While these funds have not reported stolen savings, investigations are ongoing, and some members continue to face account access issues.
Rest confirmed that limited personal information may have been accessed and is currently working with affected members.
Industry Responds to Rising Threats
The Association of Superannuation Funds of Australia (ASFA), the industry body, confirmed the broader sector was targeted.
“While most cyber attempts were successfully repelled, unfortunately a number of members across different funds were impacted,” ASFA said in a statement. “Funds are contacting affected individuals and assisting anyone whose data may have been compromised.”
Government Acknowledges Escalating Threat
Prime Minister Anthony Albanese addressed the issue on the campaign trail, saying the government is aware of the attacks and is actively monitoring the situation.
“There’s a cyber attack in Australia approximately every six minutes,” he said. “It’s a regular issue, and we’re taking it seriously.”
Recent high-profile breaches involving companies like Optus, Medibank, and Latitude have led to increased government funding and a stronger focus on national cyber resilience.
The impacted super funds are now working closely with the National Cyber Security Coordinator to investigate and respond to the incidents.
