CareSuper Review (2026) — Fees, Performance, and Key Features

CareSuper is an APRA-regulated industry super fund primarily serving professionals and workers in office-based industries across Australia. It is a profit-to-members fund — meaning fees are used to run the fund for members’ benefit, not to generate shareholder profit.

Key Facts

Fees

CareSuper’s fees are generally competitive within the industry fund sector:

• Administration fee: Annual dollar-based fee (no percentage admin fee on balance)
• Investment fee (ICR): Varies by investment option — typically competitive

For current fee information, refer to CareSuper’s PDS and Additional Information document at caresuper.com.au.

Investment Options

CareSuper offers a wide range of investment options:

• MySuper / Balanced (default): Diversified across growth and defensive assets
• Sustainable Balanced: ESG-screened option
• High Growth
• Capital Guaranteed / Cash
• Direct investment option: ASX 300 shares, ETFs, and term deposits available for self-directed members

The direct investment option is a distinguishing feature that suits more engaged investors.

Investment Performance

CareSuper has historically delivered strong risk-adjusted returns in its Balanced option. Check the SuperRatings benchmarks and the ATO’s YourSuper tool for current comparative data.

Insurance

Default insurance includes:

• Death cover
• Total and permanent disability (TPD)
• Income protection (salary continuance) — a key differentiator for professionals

The default income protection benefit (salary continuance) is often cited as a strength of CareSuper relative to other industry funds.

Who CareSuper May Suit

• Professionals and office workers in health, law, finance, HR, and other sectors
• Members who want a direct investment option alongside managed options
• Members who value default income protection coverage

Frequently Asked Questions

Is CareSuper only for people in office-based professions? No — CareSuper is open to all Australians regardless of occupation. While it was originally established for professionals and office workers, its membership has expanded and any Australian can join as a choice member. Employer contributions can be directed to CareSuper through the standard super choice process.

How does CareSuper’s direct investment option work? CareSuper’s Direct Investment Option (DIO) allows members to invest a portion of their super balance directly into ASX 300 shares, ETFs, and term deposits, alongside their chosen managed investment options. This gives more investment control than a standard managed fund without the full cost of an SMSF. Minimum balance thresholds and additional fees apply — check the current PDS for details.

What makes CareSuper’s income protection different from other funds? Many industry funds provide default income protection (salary continuance) as part of standard insurance. CareSuper’s default coverage includes salary continuance insurance that activates if you are unable to work due to illness or injury. The benefit period and waiting period are disclosed in the insurance guide. This is a meaningful differentiator for professionals who rely on their income and want insurance embedded in their super without separately arranging a policy.

Can I check CareSuper’s APRA performance test result? Yes — go to the ATO’s YourSuper comparison tool (ato.gov.au/yoursuper) and search for CareSuper’s MySuper product. The tool shows whether the fund has passed or failed the annual APRA performance test and provides 7-year return data. Updated annually after each financial year.

Has CareSuper merged with any other fund recently? As of 2026, CareSuper has remained independent. The broader super industry has seen significant consolidation — many smaller funds merging with larger ones. If CareSuper were to announce a merger, members would be notified in advance with details of the new fund and their options. You can check for current news at caresuper.com.au.

What happens to my CareSuper insurance if I stop working? Insurance in super continues while your account remains active and premiums can be paid from your balance. If your account becomes inactive (no contributions for 16 consecutive months) and your balance falls below $6,000, insurance may be cancelled unless you opt in to retain it under the Protecting Your Super rules. If you stop working temporarily (e.g., parental leave or redundancy), consider contacting CareSuper to ensure your insurance doesn’t lapse.

Past performance is not a reliable indicator of future performance. For advice tailored to your situation, speak with a licensed financial adviser via MoneySmart. For more: Super Fund Comparison Table, Income Protection in Super.