Industry fund
CareSuper
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.
THE OVERVIEW
About CareSuper
The former CARE Super fund merged into Spirit Super on 1 November 2024, with the combined fund using the CareSuper name. The investment options were aligned with the former CARE Super menu.
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Who can join
Use the current CareSuper PDS and your member category. Continuing members may have legacy insurance arrangements that differ from cover offered to new members.
THE SUPERGURU VIEW
Our take
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.
Who might put it on their shortlist
- Members comparing a Balanced default with a broader pooled menu.
- People who want a direct investment facility within their super fund.
- Former Spirit Super or CARE Super members checking current fees, investments and cover.
What deserves a closer look
- The name survived a merger, but that does not make every old fee or insurance term current.
- Some legacy death, TPD and income-protection age limits changed in April 2026.
- Direct investing carries extra costs and portfolio-management responsibility.
- The Direct Investment option is unavailable for TTR accounts.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE NUMBERS
Fees and investment returns
Use the product, investment option and employer plan on your statement. Lifecycle members need to choose the relevant stage. APRA's investment pathways may include closed options held by existing members.
| Measure | CareSuper - MySuper |
|---|---|
| Return basis | MySuper net return after administration costs, $50,000 representative member |
| 3-year return, per year | 7.72% |
| 5-year return, per year | 5.88% |
| 7-year return, per year | 6.53% |
| 10-year return, per year | 7.32% |
| APRA strategic growth allocation | 71.90% |
| Reported total fees, net of tax, at $50,000 | $470 a year (0.94%) |
| Administration and advice costs, net of tax (included in total) | $150 a year |
| 2026 performance test | Pass |
| New-member status at reporting date | 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.
A CLOSER LOOK
Inside CareSuper
Accounts and products
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
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Investment choices
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.
Insurance
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.
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Retirement income
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.
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Advice and support
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.
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Fee details to check
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.
Comparing investment performance
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.
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Former names and account history
Spirit Super: Merged with CareSuper on 1 November 2024; the resulting legal fund retains former Spirit ABN 74559365913.
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THE LEGAL FUND
Fund size in APRA's annual reporting
CareSuper
At 30 June 2025. These are legal-fund totals, which can include several products and more than one account per person.
APRA annual fund-level statistics, June 2025. These older totals can differ substantially after mergers. Size is not a measure of suitability or investment quality.
Sources for CareSuper
Checked 2026-09-11. Documents and product terms can change after this date.