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CareSuper Superannuation
About CareSuper
CareSuper was founded in 1986 as an industry fund for professionals, run only to profit members. As of 2024, CareSuper has more than 550,000 members across Australia, with more than 63,000 employers making contributions to CareSuper funds.As of 1 November 2024, CareSuper and Spirit Super have fully merged under the CareSuper name. Members with CareSuper may also receive extra benefits as a part of their membership.
What CareSuper offers
The inclusions below represent a selection of what is covered. Additional conditions may apply to different features. Canstar is not making any suggestion or recommendation to you about this product. Please ensure that you read the product disclosure statement to determine all the current policy options and inclusions for the product you are considering.
- 12 managed funds available at time of writing. Direct investment in Australian shares available.
- Term deposits available.
- Unlimited free investment switches.
- Life insurance, TPD insurance, and income protection insurance available within super.
- Online access to account details.
- Financial advice available.
How to join CareSuper
You can sign up for a CareSuper super fund online and CareSuper says it takes around 10 minutes, or you can fill in a hard copy application form and post it in.
Keep our tips in mind for how to choose a super fund, and always read the product disclosure statement (PDS) before you sign up for any superannuation product.
Remember to consider consolidating all of your super savings into one account. Find out how to find your lost super and how to consolidate your super funds. Before consolidating, check what insurances you have with each fund. Moving super from one fund to another could mean you lose some insurances, some of which you might not have known about but could really find handy if something were to happen to you.
Finally, tell your employer that you’ve joined CareSuper. To do this, you will need to request a superannuation standard choice form to fill out and return to your employer.
Does CareSuper offer an ethical investment option?
At the time of writing, CareSuper offers an ethical investment option called Sustainable Balanced. This investment option aims to achieve relatively high returns in the medium- to long-term, by investing in industries and companies that are considered to have a sustainable future on environmental and/or social grounds.
You can find out more about ethical super investment options here if you wish. Some ethical super funds screen out companies that harm humans or the environment, while other ethical super funds invest only in companies whose social and corporate responsibility approach makes a positive impact in environmental and social areas. You don’t have to settle for a super fund where money is the bottom line; ask your super fund whether they offer ethical investment options.
How can I track the growth of my CareSuper account?
Members can track and manage the growth of their super account online using CareSuper MemberOnline, or using the CareSuper mobile app on smartphone or tablet. Members can also find out the current balance of their super account in their annual statement, or by calling the CareSuperLine on 1300 360 149.
What should I check on my CareSuper statement?
Be sure to check these 9 things on your superannuation statement:
- Personal details are up-to-date
- Nominated beneficiaries are up-to-date
- Tax File Number (TFN) is recorded
- Super contributions from employer and/or your voluntary contributions are correct
- Investment asset class choices are appropriate for your life stage
- Amount paid in fees
- Insurance still adequate
- Super is consolidated, after checking whether there is insurance or any other benefits attached to the account you may lose and you’re comfortable to do so
- The big picture – are you happy with your super fund overall?
When can I access my CareSuper?
You can access your super at age 65, but it could be earlier depending on your preservation age, which can be from 55 years up to 60 years depending on what year you were born. To access your super, typically you need to have permanently decided to stop working, or have left an employer after turning 60. Earlier access to your super is possible in certain circumstances, such as:
- If your home is being repossessed
- Cases of severe financial hardship
- On compassionate grounds if you or your dependant is diagnosed with a terminal illness needing palliative care, or if you are temporarily or permanently unable to work or need to work less hours due to a physical or mental medical condition, or if you are disabled and need to modify your home or car to meet your needs, or if you need help to pay for the funeral expenses of a dependant
- If your super balance is less than $200
Can I get the Age Pension as well as CareSuper?
You may be able to receive a full or part-pension from Centrelink depending on your level of assets (including super and account-based pension balance) and income (including from any account-based pension you may have and how much income your super is assumed to be able to pay you).Find out how the Age Pension works and how much you can receive in super before your pension is affected.
