CareSuper

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CareSuper

One of Australia’s largest superannuation industry funds for service, managerial and professional occupations is the CareSuper fund that manages more than $15 billion in funds. 

Key points

  • Financial advisory services available
  • No limit on investment switching 
  • Term deposits are available 
  • Choose from up to 12 managed funds 
  • Health insurance options including income insurance and life insurance

CareSuper’s Product Offering

Of CareSuper’s products, there are four main super funds that a large majority of Australians will be interested in. These include the CareSuper Personal Plan, MySuper and Corporate superannuation products. All of which feature an array of features and investment options and health insurance inclusions. 

These superannuation products boast the following features: 

  • Long-term income protection
  • Health insurance
  • Discounts on fees based on account size
  • Low exit fees
  • Financial services and planning services
  • No switching fees 
  • General advice and financial assistance 
  • Easy to access online and mobile portals

CareSuper Personal Plan

  • 5-year returns of 9.93% 
  • Admin fees of $78
  • Annual fees calculated on 50k investment of $673

Key features

  • Financial advisory services
  • Online access
  • Death insurance 
  • Term deposits
  • Income protection

CareSuper MySuper

  • 5-year returns of 9.93% 
  • Admin fees of $78
  • Annual fees calculated on 50k investment of $673

Key features

  • Financial advisory services
  • Online access
  • Death insurance 
  • Income protection

Joining CareSuper

To join CareSuper all you’ll need to do is spend a few minutes on the industry super fund’s website at www.caresuper.com.au and fill out the online application form. The CareSuper website states that the entire process should take just 10 minutes. Don’t forget you’ll need your tax file number and any other relevant identification.

Alternatively, you’re able to download the hard copy of the online application form and post it to CareSuper via your local Australia Post. You’ll receive a response with a few days and be able to continue the process from there. 

Be sure to consolidate all of your personal super funds into one account prior to opening an account with CareSuper. This way you’re not losing any type of insurance and also not forgoing any potential investment growth. It’s also a good idea to compare your super fund options on Extras to maximise your potential earnings.

Once you’ve signed up for CareSuper, you’ll need to let your employer know and they’ll offer you a choice of super fund document that needs to be filled out and returned. 

CareSuper Investment Options

Aside from offering plenty of growth options, CareSuper also provides its clients with interactive programs to monitor and explore growth. You’re able to choose from a myriad of investment options that best meet your financial goals and investment return aim. Various asset classes are available to choose from also. 

A few of CareSuper’s investment options include: 

Growth

This investment option focuses on investing your industry super into high growth assets with a predicted 8.20% return over ten years. The main goal of this investment option is outlined to be on achieving long-term growth and low volatility. 

Balanced

Offering a lower return of 7.53%, the Balanced investment option consists of an investment into a range of diversified assets which include international shares as well as property. Most customers should expect medium long-term growth with potential fluctuations or falls in the short term. However, it’s important to remember that past performance is not an indicator of future performance, especially with regard to the housing market, so steering clear of this option through 2021 may be an intelligent decision. 

Sustainable Balanced

For those looking to sustainable and environmentally friendly investments, the Sustainable Balanced investment option is the right choice for you. With a return of 6.87% over ten years and an investment with a range of sustainable options, this is the most eco-friendly investment option offered by CareSuper. 

Overseas Shares

As expected, the overseas shares investment option focuses on direct investment in stocks and shares on global stock exchanges. All stocks are intelligently chosen on past performance and potential for future performance. In short, this is how the Overseas Shares option can predict a significant return of 10.02% over ten years. There is also an Australian shares option with a lower 7.51% return. 

About The Fund

After its establishment in 1986 in Melbourne, CareSuper has gone on to become one of Australia’s leading industry super funds with more than 247,000 members and a huge 63,000 employer partners all making routine contributions. 

The fund makes it a priority to take care of all members in more ways than offering great long-term industry fund returns. You can find a range of direct investment options, health insurance options and even discounted car insurance, home insurance and financial planning advice. CareSuper also offers ongoing seminars relating to retirement fund maximisation and more, ensuring that everyone has the opportunity to be comfortable in their retirement. 

As a superannuation fund that also focuses on providing for the community, CareSuper routinely donates and sponsors fundraisers and events for breast cancer research and the Mother’s Day Classic fun run each year. Often these events result in more than $10,000 raised for each of their causes. 

To conclude, the CareSuper industry super fund’s ethos is to offer sustainable retirement fund services for those in any financial situation whilst also contributing to the community and moving forward with environmentally sustainable investments.

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