CareSuper MySuperInformation shown is for the balanced option.
What the Researchers Say:
A "best value for money" superannuation fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement savings goals.
You should contact your financial adviser or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$78|
|Administration Fee (%)||0.20%|
|Account Size Discount||Yes|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||All Industries|
|Offered to Public?||Yes|
Fund Highlights - provided by CareSuper MySuper
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2016||FY 2015||FY 2014||FY 2013||FY 2012||Comparison|
- Outperformed average
- Underperformed average
- Negative returns
Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2016, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.
Benchmark investment information - how performance is measured
To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.
Percentage of Growth Assets
What the researchers say
CareSuper is a public offer industry super fund that was established in 1986, catering to the professional, managerial and administrative industries. CareSuper is the winner of the 2017 Choice Super of the Year Award for the 2nd consecutive year and a 2016 and 2017 MySuper of the Year finalist. These awards and nominations demonstrate CareSuper's competitiveness across our key assessment criteria.
CareSuper's Balanced option became its MySuper option from 1 July 2013. It has delivered consistently strong performance over the short to long term, providing members with top-quartile returns. Choice members have access to 11 additional Diversified and Single Sector investment strategies, which includes a Sustainable option. Furthermore, access to Term Deposits, ETFs, ASX300 Shares and selected LICs is provided via the Direct Investment option (Use of the Direct Investment option entails additional costs).
Fees for the Balanced option are rated as average across all assessed account balances, although we note the transparency of its fee disclosures. No switching fees are charged and the asset administration fee is capped at $500 p.a.
CareSuper's insurance offering includes Death only, Death/TPD and Income Protection insurance which remain competitive relative to industry peers. The fund offers an Automatic Acceptance Limit of $750,000 for Death & TPD cover. Furthermore, Income Protection insurance is available with 2 year and 5 year benefit periods.
Additional benefits such as discounted banking products, health insurance, online tax returns, access to financial planners and SMSF wind-up services are also available to CareSuper members.