So, you’re with an Industry SuperFund. You recognise the symbol and know that being with an industry fund is a smart decision. But do you know what it really means for you and how it can make a difference to your savings?
The trademarks of industry super
As an Industry SuperFund, these are three things CareSuper lives and breathes:
- Industry funds are run to benefit members, no one else.
That’s not a given for all super funds. Some, like bank-owned super, walk a tightrope to generate profits for super members and profits for shareholders. We don’t. Our decisions – and our profits – are all about you.
- They have a history of keeping costs low. But not at the expense of your returns.
Take our approach to investing. We make active investment choices, hunting for the best opportunities to add that bit extra to your return. (We could just follow the ASX and give you the same results as a cheaper fund, but we know you expect more.) See how this pays off.
- Financial planners working in your best interests.
We strongly believe in the benefits of financial advice, which is why we offer access to this service, but any fees are disclosed and agreed to upfront. There are no hidden costs. It’s either part of your membership or fee for service. Full stop.
The difference between ‘industry’ and ‘retail’ super funds
Now that you understand what an Industry SuperFund is, let’s take a look at what it isn’t.
You’ve probably heard the term ‘Retail super fund’ thrown around but what does it really mean?
Retail funds are generally run by financial institutions like banks, and their profits go back to shareholders and investors. Unlike industry funds (like us) who return their profits back to their members. Like you!
In fact, over the last 15 years to 30 June 2018 the average retail fund has delivered around $47,000 less to their members than the average Industry SuperFund.*
CareSuper and Industry SuperFunds – a partnership to benefit members
Industry Super Australia represents the collective voice of 15 Industry SuperFunds, including ours. You’ve likely seen their ads or ‘compared the pair’.
Together, we work on research, policy, marketing and advocacy initiatives to improve the superannuation system for everyone. Our shared goal is to give you the best possible retirement.
* Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund. Comparisons modelled by SuperRatings, commissioned by ISA and shows average difference in net benefit of the main balanced options of 15 Industry SuperFunds and retail funds tracked by SuperRatings, with a 15 (45 funds) year performance history, taking into account an assumed starting balance of $50,000 and initial salary of $50,000, along with historical earnings and fees – excluding contribution, entry, exit and additional advisor fees – of main balanced options. Outcomes vary between individual funds. Modelling as at 30 June 2018. See www.industrysuper.com/assumptions for more details about modelling calculations and assumptions. Consider a fund’s Product Disclosure Statement (PDS) and your personal financial situation, needs or objectives, which are not accounted for in this information, before making an investment decision. ISA Pty Ltd ABN 72 158 563 270 Corporate Authorised Representative No. 426006 of Industry Fund Services Ltd ABN 54 007 016 195 AFSL 232514.