• Industry Funds - S uperannuation fund for members in a particular industry or industries.
  
• Corporate Funds - Established for the benefit of employees of a particular company or group of companies.
  
• Public Sector Funds - Established by State and Federal governments to provide superannuation for public servants.
  
• Retail Trusts  - Often run by insurance companies and/or banks who are responsible not only to members but also to shareholders.
  
• Self-managed superannuation funds - Funds with fewer than five members, set up for small-business owners and their families.
  
• Retirement Savings Accounts - These are provided by banks and credit unions and operate like a bank account. The fund is capital guaranteed and is likely to return lower interest over the long term.

There are two types of superannuation accounts: Accumulation and Defined Benefit:

Accumulation Accounts
Accumulation accounts operate like a bank account where contributions are paid into the account and interest is paid on the balance (less fees and taxes). 

The contributions and interest continue to 'accumulate' until the member either reaches preservation age (when they can access their superannuation savings) and retires from the workforce, or suffers an injury or illness that prevents them from continuing in their usual occupation.

Accumulation accounts are flexible because they allow both the employee and the employer to make contributions into them, and are suitable for self-employed and personal investors.

Defined Benefit Accounts
Defined benefit account determine the benefit to be paid to a member by a formula which is linked to salary and the number of years a member has been in the fund. The employer will often cover the fees and running costs. 

Defined benefit accounts are an older style of superannuation accounts that was more common when people spent most of their working life with one organisation. Today they are most commonly used for government employees.

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