CareSuper - Knowledge centre

Glossary

Investment objectives

Goals that the investment option aims to achieve.

Investment Option

One of the investment strategies from which the member may choose to invest if the fund offers investment choice.

Investment strategy

The way assets in the various options are invested to achieve the investment objectives.

Legal Personal Representative

The executor of a will or administrator of the estate of a deceased person.

Lump Sum

In superannuation terms, the benefit taken as a single payment, rather than taken as a pension or annuity.

Lump Sum Tax

The tax payable on a lump sum superannuation payout. There can be as many as six components of an Eligible Termination Payment for tax purposes.

Management Expense Ratio (MER)

The expenses of a fund (e.g. investment, administration, trusteeship) as a proportion of the fund's asset value.

Management Fee

The fee charged by a superannuation fund's manager(s) for investment management, administration, trusteeship, etc. Same as ongoing fee.

Master Trust (Fund)

A trust, which allows a large number of unconnected individuals and/or companies to operate their superannuation arrangements under a common trust deed. This allows economies of scale in the operation of the trust resulting in cheaper costs for individual investors and/or companies. Life companies, banks and other specialist superannuation service providers promote master trusts. Effectively a retail super fund with member investment choice.

Maximum Deductible Contribution (MDC)

The maximum amount of superannuation contributions that can be made by a self-employed person, or an employer for an employee, to a complying superannuation fund or RSA and claimed as a tax deduction.

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CARE Super Pty Ltd (Trustee) ABN 91 006 670 060 AFSL 235226 CARE Super ABN (Fund) 98 172 275 725