Following the collapse of the First Guardian and Shield schemes, CBUS urges 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
Tempted by ads promising big returns?
Be on alert if you see social media super ads offering ‘free reviews’ or ‘free surveys’ and promising big returns.
Does it look too good to be true? Don't risk your hard-earned savings.
Watch the video.
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.
Understanding how guidance, support and advice work – alongside the questions to ask before you act can help you make informed decisions about your super.