CareSuper Superannuation Fund Overview

CareSuper is a not-for-profit superannuation fund that offers a range of benefits to its members.

CareSuper has been in operation since 1986, providing retirement savings solutions to its members.

The fund is designed to help members achieve their retirement goals, with a focus on providing competitive investment returns and low fees.

CareSuper has over 130,000 members, making it one of the largest not-for-profit superannuation funds in Australia.

Members can choose from a range of investment options, including a Balanced option, a Growth option, and a Conservative option.

CareSuper offers a range of investment options to suit different needs and goals. You can invest in superannuation or a pension, and choose from various investment strategies.

The admin fee for CareSuper's super investment options is fixed at $67.6, with an admin fee percentage of 0.15%. This fee is capped at $818.

Investment fees and costs range from 0.4% to 0.45% for super investment options, while transaction costs are 0.06% to 0.08%. For DIY investments, you can invest in specific shares, ETFs, and other direct investments.

CareSuper's pension investment options include multi-sector and single sector options. The admin fee for these options is fixed at $67.6, with an admin fee percentage of 0.1%. General reserves are 0.11% for all options.

Here's a summary of the admin fees and investment fees for CareSuper's pension investment options:

CareSuper offers a range of super investment options to suit different needs and risk tolerances.

You can invest in specific shares, ETFs, and other direct investments, giving you more control over your super.

CareSuper's super investment options include DIY investments, which allow you to choose your own investments.

CareSuper's pension investment options are designed to help you grow your retirement savings.

The CareSuper pension investment options include a Conservative BalancedConservative Balanced growth asset, which is invested 49.9% in growth assets.

CareSuper's single sector pension investment options have varying admin fees, with some options having a fixed admin fee of $67.6 and an admin fee percentage of 0.1%.

Here's a breakdown of the fees for CareSuper's single sector pension investment options:

CareSuper's super investment options also include a range of investment categories, including Balanced and Conservative.

When you're considering CareSuper's investment options, it's essential to know what's included in their services. CareSuper offers superannuation services, which is a great starting point for your retirement savings.

Their MySuper Balanced product provides access to some additional services, although they are limited.

CareSuper's enterprise profile highlights their various brands and products, which can give you an idea of the range of services they offer.

Here's a brief overview of what's included in CareSuper's services:

As a CareSuper member, you're entitled to complimentary financial advice over the phone via an appointment. For more comprehensive or complex advice, an additional fee is required.

Sophie Venz, a former Deputy Editor at Forbes Advisor, has worked closely with finance experts and columnists around Australia and internationally.

CareSuper offers a range of pension investment options, including multi-sector pension investments. These investments are designed to provide a balanced portfolio with a mix of asset classes.

The admin fee for multi-sector pension investments is fixed at $67.6. Additionally, the admin fee percentage is 0.1%, and the admin fee cap is $818.

CareSuper also offers DIY investments, allowing members to invest their super in specific shares, ETFs, and other direct investments. This option provides more control over investment choices.

Here are some key fees associated with CareSuper's multi-sector pension investments:

CareSuper offers multi-sector pension investment options, which can be a great choice for those looking for a more diversified portfolio. This type of investment spreads risk across different asset classes, such as shares, property, and bonds.

You can expect to pay an admin fee of $67.6, which is a fixed cost. The admin fee percentage varies, but it's as low as 0.1% in some cases. There's also a cap on the admin fee, which is $818.

The general reserves fee is 0.11%, and investment fees and costs can range from 0.26% to 0.56%. Transaction costs are typically around 0.04% to 0.08%.

Here's a breakdown of the fees you might pay for a multi-sector pension investment option with CareSuper:

CareSuper also offers the option to invest directly in specific shares, ETFs, and other investments, giving you more control over your pension portfolio.

The admin fee fixed for single sector pension investments can range from $67.6 to $67.6, with some options offering a fixed fee and others not.

In some cases, the admin fee percentage is a flat 0.1%, while in others it's not explicitly stated.

The admin fee cap can be as high as $818, which is a significant amount to consider when choosing an investment option.

General reserves for single sector pension investments can be as low as 0.11% of the total investment.

Investment fees and costs can vary widely, ranging from 0.08% to 0.48% of the total investment.

Transaction costs can also add up, ranging from 0% to 0.1% of the total investment.

Here's a summary of the fees associated with single sector pension investments:

CareSuper offers various types of insurance, including life insurance, total and permanent disablement (TPD) cover, and income protection cover.

These insurance options become available once a member meets certain conditions, and additional fees may apply for death and TPD cover.

CareSuper's standard insurance cover commences automatically for members who meet the conditions, but income protection insurance requires a separate application.

Here are the different types of insurance offered by CareSuper:

CareSuper's administration details reveal that the fund is structured as an industry fund, with an equal representation required by governing rules, and a not-for-profit status.

CareSuper has several USI numbers, each serving a specific purpose. For instance, CARE Super has the USI number MTA0100AU.

Here's a breakdown of the USI numbers for different CareSuper products:

These USI numbers are important for identifying and managing your superannuation accounts.

Insurance through your super fund is a great way to have some basic cover in place. CareSuper provides life insurance, total and permanent disablement (TPD) cover, and income protection cover.

To get this coverage, you don't need to do anything - it commences automatically for you once you meet the conditions. However, keep in mind that additional fees may apply.

Income protection insurance is not included with standard cover, so you'll need to apply for it separately. This means you'll have to take the initiative to get this type of insurance.

The type of insurance you're eligible for with CareSuper depends on your age and superannuation fund balance. This is a key factor in determining what kind of insurance you'll have.

Here are the types of insurance provided by CareSuper:

CareSuper administration details are public, meaning anyone can join the super fund. The fund's RSE licensee is CARE Super Pty Ltd, a not-for-profit organization.

The fund type is Industry, and the RSE licensee ownership type requires equal representation by governing rules. The RSE licensee profit status is not for profit.

The board structure is owned by a financial services corporation, and the balance date is June 30, 2024. This means the information provided is up to date as of that date.

CareSuper's investment expenses ratio is 0.4%, which is higher than the average of 0.18%. Operating expenses ratio is 0.3%, lower than the average of 0.49%.

The trustee board has a good balance of female and male directors, with 11 females (55%) and 9 males (45%). The total remuneration of directors on the trustee board is $1,124,000, which is higher than the average of $743,412. The average remuneration per director is $112,000, which is higher than the average of $102,069.

Care Super is a registered business with a clear enterprise synopsis. It's a superannuation fund that aims to provide financial security to its members.

The company's registered business details are publicly available, showing its commitment to transparency. Care Super is a self-managed super fund, which means it's owned and controlled by its members.

A SWOT analysis of Care Super reveals its strengths, weaknesses, opportunities, and threats. This analysis helps the company stay competitive in the market.

CareSuper has a rich history dating back to 1986 when it was established as one of the early industry superannuation funds in Australia.

In 1987, the first company to join the fund was Siemens Limited, marking the beginning of CareSuper's growth.

The fund became a public offer fund in 1999, allowing non-employer-sponsored individuals to join the CareSuper Personal Plan.

CareSuper introduced a Pension product in July 2007, enabling members to stay with the fund as they transitioned into retirement.

Giaan Rooney, a retired Australian swimmer, served as CareSuper's brand ambassador from 2011 to 2024, featuring in the fund's television advertisements and events.

The merger with Asset was completed on 27 October 2012, adding four new Trustee Directors to the CareSuper Board.

A binding agreement to merge with Spirit Super was announced in June 2023, with the merger being completed on 1 November 2024.

Care Super is a registered business with a unique ABN number: 74559365913. This is the official identification number assigned to the company.

The company's enterprise synopsis provides a high-level overview of its operations and goals. Unfortunately, the specific details of this synopsis are not provided in the available information.

Care Super has a SWOT analysis, which is a crucial tool for understanding the company's strengths, weaknesses, opportunities, and threats. However, the specific results of this analysis are not mentioned in the available information.

Care Super has several main brands and products, but a comprehensive list is not provided. It's worth noting that a company's brands and products can greatly impact its overall success and reputation.

Care Super operates in various industries and geographic locations, but the specific details of these operations are not provided. It's likely that the company has a significant presence in Australia, given its Australian Business Number (ABN) and the fact that it's a superannuation fund.

Yes, Spirit Super merged with CareSuper. The two funds announced a binding agreement to merge, with the merger expected to be complete late in 2024.

The announcement was made on June 1, 2023.

CareSuper operates in a highly competitive environment, with many other superannuation funds vying for members' attention. This competition drives innovation and better services for members.

CareSuper has a strong presence in the market, with over 130,000 members. Its size and scale give it a significant advantage in negotiating fees with investment managers.

The fund's focus on retirement savings and income generation is a key differentiator in a crowded market. This focus allows CareSuper to tailor its services to meet the specific needs of its members.

CareSuper's commitment to providing low fees and high returns has helped it attract a large and loyal membership base. Members appreciate the fund's transparent and straightforward approach to superannuation.

The Australian superannuation industry is highly regulated, with strict guidelines governing the operation of super funds. CareSuper must comply with these regulations to maintain its license and continue operating.

CareSuper has a distinct difference in fees compared to AustralianSuper. AustralianSuper has a 0.67% investment based fee, whereas CareSuper's percentage based fees are 1.07%.

AustralianSuper's flat fee is $52, while CareSuper's flat fee is $78. This means that CareSuper is more expensive in terms of flat fees.

AustralianSuper has a significantly larger member base, with 3,400,000 members, compared to CareSuper's 226,080 members.

AustralianSuper has a flat fee of $52, which is significantly lower than CareSuper's flat fee of $78. AustralianSuper's annual percentage based fees are also more competitive, with a 0.67% investment based fee compared to CareSuper's 1.07%.

This means that if you're investing a smaller amount, the flat fee of $52 may be a more attractive option.

AustralianSuper has a significant membership base with over 3,400,000 members.

Their MySuper option, AustralianSuper Balanced, has a notable asset allocation.

AustralianSuper Balanced invests 30.65% in international shares, 23.85% in Australian shares, and 14% in alternative investments.

The performance of AustralianSuper Balanced over the past five years is impressive, with a return of 6.82%.

Here's a comparison of AustralianSuper Balanced's performance with CareSuper's Balanced option:

AustralianSuper Balanced has outperformed CareSuper Balanced in the 1-year return, but the difference is relatively small.

AustralianSuper Balanced has a default fee of $387 for a $50,000 investment, which is lower than CareSuper's default fee of $613.

AustralianSuper Insurance Comparison is a crucial aspect to consider when choosing a super fund. AustralianSuper received an insurance rating of 68 from Omnilife.

Insurance fees can significantly affect your super balance, so it's essential to review the options carefully. CareSuper received a 66 rating for its insurance options.

AustralianSuper's insurance rating is slightly higher than CareSuper's, indicating a potentially better deal.

CareSuper's fees are a bit higher than some other funds, with a flat fee of 78 and a percentage-based fee of 1.07%. This means that if you have a $50,000 balance, your default fees would be $613 per year.

AustralianSuper, on the other hand, has a flat fee of 52 and a percentage-based fee of 0.67%. This would result in default fees of $387 per year for a $50,000 balance.

CareSuper's average performance is around 9.05% for one year and 8.04% for 10 years, which is on par with the target return level of the Consumer Price Index plus 3% a year over 10 years, considering the current inflation rate.

Here's a quick comparison of the two funds' performance:

It's worth noting that CareSuper's performance is still respectable, especially considering its size and target return level.

Fees can add up and eat into your savings over time. The annual administration fee for CareSuper’s MySuper product is $345, based on a balance of $50,000.

This fee covers administration, investment, and transaction costs, which is important to consider when choosing a superannuation fund.

You should take a close look at the fees associated with your super fund to ensure you're getting the best value for your money.

CareSuper's average performance is a great indicator of how well the fund is doing. For one year, CareSuper's MySuper product had an average rate of return of 9.05%.

The target return for many superfunds is the Consumer Price Index plus 3% a year over ten years. This is because inflation is currently hovering around 5%, making it a challenging target to meet.

CareSuper's 10-year average rate of return of 8.04% is actually on par with this target level.

Here's a comparison of CareSuper's performance with some other superfunds:

CareSuper is committed to sustainability and ethics in its investment practices. As a founding member of the Australian Council of Superannuation Investments, it's clear that they're taking a proactive approach to responsible investing.

CareSuper is also a member of the Responsible Investment Association Australasia (RIAA), which suggests that they're working closely with other organizations to promote sustainability in the industry.

By being a signatory of the PRI, a UN-supported network of investors, CareSuper is part of a global effort to promote sustainability and responsible investing.

CareSuper has made a pledge to be tobacco free financially, which means they don't invest in companies that create tobacco products.

CareSuper is a decent option for some people, but it's essential to weigh its pros and cons. CareSuper has low fees, which can save you money in the long run.

However, the fund's limited insurance options might not be suitable for everyone. It's crucial to consider your individual circumstances and needs.

CareSuper's relatively good returns are a plus, but you should also think about what else it offers. In comparison to other funds, CareSuper's financial services might be lacking.

Ultimately, whether CareSuper is a good choice for you depends on your specific situation and priorities.