Glossary

Indexed Investment Management

When your super fund's investment managers try to match, or replicate, the performance of the investment markets. E.g. If the Australian share market returns 10 per cent, an indexed investment manager should have earned 10 per cent. The main reason for using an indexed investment manager is that their fees can be lower.

Industry fund

A multi-employer superannuation fund, in many cases established in parties to an industrial Award, usually covering a specific industry or range of industries.

Inflation rate

The rate at which the price of goods and services rises or falls. This is usually shown as a percentage and is measured by the Consumer Price Index (CPI).

Insurance

Financial protection against a possible future event with terms of coverage specified in the policy document. Insurance normally offers protection for individuals, families and other dependents in the case of death and disability where the protection is against injury or ill-heath which would prevent normal employment.

Insurer

CARE Super's insurer is CommInsure. CommInsure is a registered business name of The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).

Interdependency relationship

A relationship in which a person and the member (whether or not related) have a close personal relationship, and they live together; and one or each of them provides the other with financial support and domestic support and personal care. If the member and the person do not live together due to a physical or psychiatric disability, an interdependency relationship may still exist.

Interim crediting rate

The interest rate applied to your super account if you withdraw part or all of your balance from CARE Super or switch investment options before the end of a financial year, or before the final rate is declared. Interim crediting rates can be positive or negative.

Investment Choice

Where members of a superannuation fund are able to choose from a range of investment options how their money is invested.

Investment management fee

The fee paid by CARE Super to its investment managers.

Investment Manager

An organisation that invests a portfolio of assets on behalf of individuals and organisations, subject to the guidelines set out by the individual or organisation. Also referred to as a fund manager.

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