Australia’s MySuper default superannuation funds are compared against New Zealand’s range of KiwSaver funds. Some key points of contrast include: the relative maturity and larger balances of the Australian system; the majorityof MySuper providers are not for profit, whereas KiwiSaver is dominated by for profit providers; MySuper funds use a much broader range of assets, while KiwiSaver funds invest largely in listed assets; greater use of lifecycle strategies in Australia; the skew to conservative funds under KiwiSuper; and differing fee structures, the impact of which depends on account balance. It is argued that New Zealand could do more to enhance the probability of achieving adequate incomes in retirement.