CareSuper and Meat Industry Employees’ Superannuation Fund (MIESF) sign merger agreement

CareSuper and Meat Industry Employees’ Superannuation Fund (MIESF) are pleased to announce that they have entered into a binding agreement to merge the two funds. This comes after an extensive due diligence process, with the merger expected to be completed in late 2025. The agreement will see around 17,000 members join the fund and $1 billion funds under management transfer to CareSuper's current $56 billion.

The merger will be subject to both funds completing their respective members’ best financial interests and equivalent rights assessments and signing a Successor Fund Transfer Deed.

In a joint statement the Chair of CareSuper, Linda Scott, and the Chair of MIESF, Chris White, said:

‘As member-focused industry super funds, this binding agreement is a critical and positive step forward in serving our members’ best financial interests.

‘Both funds recognise our shared focus on putting members first and the importance of providing strong retirement outcomes combined with excellent service and personalised advice to our members.

‘CareSuper is a mid-sized fund, so we’re big enough to make a difference, but small enough to care about each of our members. CareSuper offers outstanding member and employer support with award-winning service* and strong long-term performance.^{^}

‘Having undertaken the required due diligence processes we are confident a shared future is the best way forward to continue delivering competitive fees and outstanding value.

‘Members can rest assured they will be kept informed as the merger progresses.’

In the meantime, both funds will continue to operate independently with administration, investment and member service managed by each fund. There will be minimal impacts to members and employers at this stage.

All media inquiries for this announcement to David Imber, 0413 274 204 or [email protected]

CareSuper is an award-winning, profit-to-member industry super fund with 550,000 members and $56 billion in funds under management. Our vision is to be Australia’s most trusted partner in retirement confidence through exceptional care and connection. CareSuper provides super, retirement, and advice options when needed to help members feel confident on their journey to, and through, retirement. Find out more at caresuper.com.au.

MIESF is a union-sponsored, profit-to-member, industry fund that has provided appropriately straightforward benefits for meat workers since 1981. As a $1 billion fund MIESF is proud to have achieved exceptional investment performance, kept fees competitive and delivered a personal service offering to members. Find out more at miesf.com.au.

^*CareSuper was ranked in the Top 3 for Superannuation service by Customer Service Benchmarking Australia (CSBA) for period January 2024 to December 2024. CareSuper has an agreement with CSBA for quality assurance and staff training within their contact centre. Awards and ratings are only one factor when deciding how to invest your super. Read about the award methodology at csba.com.au.

^{^}Past performance isn’t necessarily an indication of future returns. The value of investments can rise or fall, and investment returns can be positive or negative.