CareSuper: Largest industry fund for professionals
Consider putting your retirement in the safe hands of CareSuper.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
CareSuper was created in 1986 to help members of the professional and administrative services plan for retirement.
Today, you can enjoy industry super funds with low fees and a proven track record. CareSuper MySuper, CareSuper Pension and CareSuper Transition to Retirement accounts offer a number of investment options for the hands-on investor.
Get complimentary cover if your employer is making your super contributions too. These accounts have been recognised within the industry for providing value for money. Learn about CareSuper and products below.
What awards has CareSuper won?CareSuper has been recognised by industry commentators for providing value for money superannuation and pension products.
- Money Magazine Best of the Best Awards - Best Super Fund Manager 2016.
- Money Magazine Best of the Best Awards - Best MySuper Fund 2016.
- SuperRatings - Choice Super of the Year 2016.
- SuperRatings - Platinum Rating 2015 and 2016 - CareSuper Super, Pension and MySuper products.
A closer look at CareSuper
CareSuper offers a MySuper superannuation product. MySuper is an Australian government initiative designed to bring consistency to the system.
MySuper accounts are economical and simple options for employers and employees. CareSuper MySuper gives you a number of investment options. Choose from growth or defensive strategies or investing in a particular asset class such as Australian or international shares.
CareSuper also offer two pension products: the CareSuper Pension and the CareSuper Transition to Retirement Account. These retirement accounts pay an income and give you access to 13 different investment options.
What’s Internet banking like with CareSuper
Log on to MemberOnline to manage your super. This online portal lets you review and change your fund’s investment choices as well as update important details and view statements.Back to top
What super funds are offered by CareSuper?
Choose how you invest your superannuation. Direct investment gives you control exactly where your super is invested or choose from different managed options to match your goals.
- Capital guaranteed
- Capital stable
- Conservative balanced
- Balanced (default)
- Sustainable balanced
- Alternative growth
Asset class options:
- Capital secure (short-dated floating rate securities, i.e. bank bills, asset back securities and bank-term deposits)
- Fixed interest (fixed rate bonds)
- Commercial property
- Australian shares
- Overseas shares
Other features include:
- Online access. Monitor your super investment online through MemberOnline, CareSuper’s online platform. MemberOnline lets you access the Direct Investment option.
- Default cover. This fund includes cover for death and total & permanent disablement. Personal Plan members (i.e. self employed) do not receive a default level of cover but are eligible to apply for cover when they join the fund.
- Extra cover. Add income protection insurance. New members can increase their cover in the first 90 days without a medical check.
- Discounts. CareSuper fund members are eligible for discounted health insurance premiums at partner insurers.
- Planning. Get complimentary access to financial planners.
The following fees apply:
- Administration fee. $78 a year + up to 0.20 of your account balance (capped at $500) a year.
- Exit fee. $40.
There are a number of fees such as brokerage, Indirect Cost Ratio and buy-and-sell spread charges which can apply. Read the product disclosure statement for a full list of fees and charges.Back to top
What pension accounts are offered by CareSuper?
CareSuper provides a pension account and a transition to retirement account.
Take as little as $10,000 of your accumulated super balance and open a CareSuper Pension account. Use the funds in the Pension account to invest and pay yourself a regular income.
What are the features of the CareSuper Pension?
- Regular income. There’s no limit to how much you can pay yourself as income from the CareSuper Pension account. As long as you meet the ATO’s minimum payment requirements.
- Tax free. If you’re over 60, payments from the CareSuper Pension account are tax free.
- Investment options. Choose from a dozen different investment options. CareSuper let you invest in managed options such as balanced growth or an asset class such as Australian shares.
- Planning. Get access to industry fund financial planning.
CareSuper Transition to Retirement Pension
If you’ve reached the preservation age and you’re still working, the CareSuper Transition to Retirement Pension can pay you an income from your superannuation balance.
What are the features of the CareSuper Transition to Retirement Pension?
- Pre-retirement super income. You can draw up to a maximum of 10% of your super balance each year using a transition to retirement account.
- Tax benefits. Grow your super balance and decrease your taxable income by increasing your personal superannuation contributions.
- Eligibility. You can apply if you’ve reached the preservation age and you have at least $10,000 to open an account.
How do I apply for CareSuper super funds?
You can become a member of CareSuper and apply online for one of the super funds or pension accounts listed on this page. Application for a CareSuper super fund is handled on the CareSuper website and can be completed in under ten minutes.
You can also join through your work if your employer is a participating CareSuper employer. Provide the following information to become a CareSuper member:
- Your contact information
- Your Tax File Number (TFN)
- Your existing super fund name and member number
- Information about contributions payments
- Your choice of insurance
- Your investment options.
Am I eligible for a CareSuper Pension?
You must meet the following eligibility criteria to apply for a CareSuper Pension product.
- Have access to at least $10,000 of your superannuation balance as unrestricted non-preserved money.
Eligibility requirements for a transition to retirement accounts: funds can be preserved or non-preserved as long as the applicant has reached the preservation age.
If your employer is paying your super contributions, they must complete and return a signed form which has advised your employer that CareSuper is your choice of super fund.
Become a member of CareSuper and safeguard your retirement income.
We can answer any questions about this company and products to help you in your comparison of super funds. We can’t provide financial advice.
Contact CareSuper for advice specific to your circumstances.
More guides on Finder
Are you better off putting $10k in your home loan or in super?
Our experts crunch the numbers to help you work out the best place to park your money: is it your mortgage or your super fund?
Sunsuper vs HESTA: Which super fund is right for you?
We've compared the fees, investment options and performance for both Sunsuper and HESTA to help you choose between these two popular super funds.
Hostplus vs HESTA: Which super fund is right for you?
Hostplus and HESTA are two popular industry super funds, but which is right for you? We've compared their fees, investment options and performance side by side to help you choose.
QSuper vs Sunsuper: Which super fund is right for you?
We've compared the fees, investment options and performance for both QSuper and Sunsuper to help you choose between these two popular super funds.
AustralianSuper vs LUCRF Super
We compare the fees, investments and performance of AustralianSuper and LUCRF Super so you can see which super fund might be right for you.
AustralianSuper vs Rest Super: Which super fund is right for you?
AustralianSuper and Rest are two popular industry super funds, but how do they compare on fees, performance and investment options?
AustralianSuper vs Hostplus: Which super fund is right for you?
Can't decide between AustralianSuper or Hostplus? We've compared their fees, performance and investment options side-by-side to help you choose.
AustralianSuper vs QSuper: How do these super funds compare?
Trying to decide between AustralianSuper and QSuper? We've compared their fees, investment options, performance and extras side by side to help you choose.
AustralianSuper vs Sunsuper: How do these super funds compare?
Trying to decide between AustralianSuper and Sunsuper? We've compared their fees, investment options, performance and extras side by side to help you choose.
Planning your retirement? Here are 4 things you need to know about reverse mortgages
SPONSORED: A reverse mortgage could let you use some of your home equity to fund your retirement costs. Here's what you need to know.
Ask an Expert