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Pros and Cons
- 13 investment options including the DIO
- Consistent and strong long-term investment returns
- Access to discounted banking and insurance products
- Extensive member services including online education, financial seminars and access to financial planning advice
- Transparent and simple fee structure
CareSuper is a public offer industry superannuation fund established in 1986 to cater to the professional, managerial and administrative industries. CareSuper Pension is part of the fund’s post-retirement income solutions and can be combined with the Guaranteed Lifetime and Fixed Term Income accounts, which are designed to offer a guaranteed income while providing additional protection against inflation and longevity risks.Members have access to 12 Diversified and Single Sector investment strategies, including the Sustainable Balanced option for the ethical investor. Access to Term Deposits, ETFs, ASX300 Shares and selected LICs is also provided through the Direct Investment option; however, additional costs may apply. CareSuper's Balanced option has provided strong investment returns to members, outperforming the SuperRatings Index over the 10 years to 30 June 2020. Fees for the Balanced option are lower than the industry average across all account balances assessed, with the asset administration fee capped at $750 pa. There are no switching fees, although a buy-sell spread may apply.CareSuper provides good flexibility, with members having the ability to receive payments twice-monthly through to annually. Members with more than one investment option can nominate the proportion of, or order in which, payments are to be drawn from each option. Lump-sum withdrawals can be made at any time via paper form, over the phone or via MemberOnline. Members, where eligible, can also access CareSuper Transition to Retirement Pension, subject to a minimum investment of $10,000.Additional benefits such as discounted banking products, health insurance, online tax returns services, access to financial planners and SMSF wind-up services are also available to members.
CareSuper Fees and Features
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
Popular pension funds products
AustralianSuper Choice Income Account
Strong long-term performance and low fees
Flexible investment choice - 11 options and the Member Direct
Free retirement seminars and webcasts
Full online account access at any time via PensionOnline with Mobile App available
Rest Allocated Pension
Low fees including no commissions paid to advisers, planners or accountants.
Access to non-commission based financial advice with members first call free.
Support available including CSM support, regular national seminars and factsheets.
Online facility with option of online statements, newsletters, product details and educational information.
Retirement Directions Allocated Pension