Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Industry fund
Aware Super uses a Lifecycle default in its Future Saver account and offers retirement income accounts, investment choice and several levels of advice.
Public membership is available. Some former scheme members, including defined-benefit and employer groups, need the documents for their own plan.
Industry fund
CareSuper offers a Balanced default, other pooled investment options and a Direct Investment option. Its merger and recent insurance changes make the date of a comparison especially important.
Use the current CareSuper PDS and your member category. Continuing members may have legacy insurance arrangements that differ from cover offered to new members.
Choose the actual investment pathway for each account. For lifecycle products, select the named stage relevant to you. No stage is selected automatically.
| Measure | Choose an investment option | CareSuper - MySuper |
|---|---|---|
| Return basis | Choose an option | MySuper net return after administration costs, $50,000 representative member |
| 3-year return, per year | Choose an option | 7.72% |
| 5-year return, per year | Choose an option | 5.88% |
| 7-year return, per year | Choose an option | 6.53% |
| 10-year return, per year | Choose an option | 7.32% |
| APRA strategic growth allocation | Choose an option | 71.90% |
| Reported total fees, net of tax, at $50,000 | Choose an option | $470 a year (0.94%) |
| Administration and advice costs, net of tax (included in total) | Choose an option | $150 a year |
| 2026 performance test | Choose an option | Pass |
| New-member status at reporting date | Check the current product eligibility rules | Check the current product eligibility rules |
Source: APRA Comprehensive Product Performance Package 2026, published 28 August 2026. Fees reflect the reporting year to 30 June 2026, are net of tax, use standard arrangements and exclude member-activity fees. Dollar figures are rounded. They are not a current quote. Check the latest PDS for changes, insurance premiums and any separately charged advice.
Returns are annualised historical results. Different return bases, risk levels and periods cannot be treated as interchangeable. MySuper net returns use a $50,000 representative balance even when you change the fee balance. A lifecycle stage return does not track a person moving between stages. Missing figures mean not reported, not zero. Past returns do not predict future returns. Read our method and APRA's definitions.
| What to compare | Aware Super | CareSuper |
|---|---|---|
| Membership and access | Public membership is available. Some former scheme members, including defined-benefit and employer groups, need the documents for their own plan. Sources1 | Use the current CareSuper PDS and your member category. Continuing members may have legacy insurance arrangements that differ from cover offered to new members. Sources5 |
| Accounts and products | Future Saver public accumulation account; restricted legacy and employer arrangements are separate. Future Saver Retirement Income Retirement Transition Legacy defined-benefit arrangements Sources12345678 | Current CareSuper following the November 2024 merger; historical CARE Super and Spirit Super are not separate current choices. CareSuper accumulation Retirement Income TTR Income Direct Investment option Sources2 |
| Investment choices | MySuper Lifecycle Future Saver members who do not choose an investment option use MySuper Lifecycle, which changes the mix with age. Members can choose diversified or single-asset-class investments instead. The retirement-account default is Conservative Balanced, rather than the accumulation Lifecycle approach. Sources23 | Balanced The pooled menu includes Balanced, Growth, Alternative Growth, Sustainable Balanced and more defensive choices. Eligible members can use the Direct Investment option to choose selected ASX 300 shares, ETFs, listed investment companies and term deposits alongside CareSuper's other investments. Sources234 |
| Insurance | Death, TPD and income protection cover are available through TAL policies, subject to eligibility. Basic Cover comprises death and TPD; other cover can require an application. NSW Police and Ambulance officers have special arrangements and should use their own insurance handbooks. Sources56 | CareSuper offers death, TPD and income protection, subject to its categories and eligibility rules. Its insurance changes took effect on 1 April 2026 and generally increased costs, changed some cover amounts, and altered terms and definitions. Income protection is unavailable for Category D. Sources5 |
| Retirement income | Retirement Income is the account-based pension product. Retirement Transition is for eligible members accessing super while working and automatically becomes Retirement Income at age 65. Members can keep the Conservative Balanced default or choose their own investment mix. Sources34 | CareSuper has retirement-income and TTR products with separate options and fees. The Direct Investment option is not available in TTR accounts. Former product names changed through the merger, so check the current account name when reading older material. Sources4 |
| Advice and support | Aware offers help about its accounts, personal retirement advice and broader financial advice. Advice about Aware accounts can be available at no extra cost, while broader advice has a fee. Confirm what the service covers before relying on it for decisions involving other assets or another fund. Sources48 | CareSuper includes some telephone advice about the account within membership. The scope of advice and any extra fee should be confirmed before asking for a broader financial plan. Sources6 |
| Fee details to check | Compare the fee for the actual Lifecycle age allocation or chosen option. A retirement account and Future Saver can have different administration and investment costs, so the accumulation total should not be carried into a pension comparison. Sources12345678 | Use current CareSuper fees rather than an old Spirit Super or CARE Super fee table. Direct investing adds a separate administration fee, brokerage and any underlying ETF or listed-fund costs. Insurance premiums need a quote under the post-April 2026 terms. Sources13 |
| Comparing investment performance | A Lifecycle comparison must match the member's age and the relevant investment mix. Conservative Balanced pension results and Future Saver results differ in investment strategy and tax treatment; a single brand-level return would obscure those differences. Compare Future Saver's Lifecycle for the same age, and compare retirement accounts separately. Check whether advice being compared is general guidance, personal advice about the fund, or broader financial planning. Sources3 | CareSuper's current fee page expressly notes that the former CARE Super fund merged into Spirit Super and that the investment options were aligned. Long performance histories can contain predecessor-fund results; identify the basis before interpreting them as the experience of every continuing member. Use the current legal fund ABN and explain predecessor performance. Check the insurance category and whether cover is legacy, default or tailored. Sources1 |
| Former names and account history | First State Super: Renamed Aware Super in September 2020. StatePlus: Former advice and retirement brand, acquired by First State Super in 2016 and rebranded in 2020; do not confuse with State Super NSW defined benefit schemes. TelstraSuper: Heritage TelstraSuper accounts moved to Aware Super, with new arrangements from 1 May 2026; heritage insurance terms remain account-specific. Sources91011 | Spirit Super: Merged with CareSuper on 1 November 2024; the resulting legal fund retains former Spirit ABN 74559365913. Sources7 |
THE SUPERGURU VIEW
Aware is worth examining if you want investment management and help with retirement decisions in the same place. The change from an accumulation Lifecycle default to a Conservative Balanced retirement default deserves a close look: it is a meaningful change in how your money is invested, not just a new account name.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE SUPERGURU VIEW
CareSuper is useful to compare if you want pooled investment management with an option to take more control later. Existing members have another reason to review their account: the merger history and insurance changes mean old documents may no longer describe what they hold.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
Use the membership rules to establish which accounts are available to you. Then compare the total price of the investment option and cover you need. A lower fee or higher historical return alone does not tell you which fund is suitable.
Ask both funds to confirm insurance acceptance, exclusions, waiting periods and whether cover would change when you leave your employer. Obtain advice before giving up a defined benefit or an insurance policy you may not be able to replace. ASIC Moneysmart explains the comparison checks.
Read the full Aware Super profile · Read the full CareSuper profile · Choose another comparison
Checked 2026-09-11. Documents and product terms can change after this date.
Checked 2026-09-11. Documents and product terms can change after this date.