Defined benefit - DB plans have wound down since 1990s — generally only available in Government Superannuation and for private sector employees who have remained with employers since 1990.

Defined contribution - vast majority of funds are defined contribution.

Industry Funds - operators not for profit

Government Superannuation - funded through a statutory 'Future Fund' (Commonwealth) and State-based funding arrangements.

Corporate Superannuation - operators for profit but arranged by private sector corporates for employees. Operators need to be approved by the Australian Prudential Regulatory Authority and as a result are third party specialist superannuation operators who provide sub-plans for each employer.

Retail Funds - operators for profit in the mass retail market.

Self-Managed Superannuation - limited to 6 members

Most corporates do not have DB plans and those that do only have a limited number of employees left in them as they have been closed to new members since the 1990s. However, it is important to check (i) whether a corporate has a DB plan within its employer sponsored arrangement; (ii) who the trustee is; (iii) who the operator of the plan is; (iv) the liabilities and notification under any participation deed; and (v) the current actuaries report on the status of assets versus liabilities of the DB plan.