Direct Investment option
Our Direct Investment option (DIO) is designed for members who want to play an active role in managing their super.
It offers members more flexibility and choice about how part of their super is invested.
The DIO is managed through an easy-to-use online portal that you can only access via Member Online.
It's not suitable for everyone, and extra fees apply to this option.
Eligibility criteria apply. Please read the Direct Investment option guide for more information.
Invest in your choice of:
The S&P/ASX 300 is designed to provide investors with broader exposure to the Australian equity market. The index measures up to 300 of Australia’s largest securities by float-adjusted market capitalisation. The S&P/ASX 300 index covers the large-cap, mid-cap, and small-cap components of the S&P/ASX Index Series.
Minimum investment time frame
7 to 10 years.
Risk level
High
The risk level is based on the Standard Risk measure. Refer to the relevant PDS for more details.
ETFs are funds that invest in a number of securities. They usually attempt to reflect the performance of a particular index or benchmark by investing in a range of securities that make up that index or benchmark. The index or benchmark may be Australian shares, overseas shares, fixed interest or a commodity, for example.
The following ETFs are available in our DIO:
ETFs and LICs are listed on the ASX but may have exposure to foreign-listed securities, property, fixed interest securities and commodities. They may also hold short positions in securities. To find out more, please read the PDS or other disclosure document available from the website of the ETF or LIC issuer.
Minimum investment time frame
7 to 10 years
Risk level
High.
This risk level is based on the Standard Risk Measure. Refer to the relevant PDS for more details.
LICs are traded on a stock exchange, like shares and ETFs. They generally invest in shares of companies that are also listed on the stock exchange. LICs are closed-ended vehicles, similar to managed funds. Their structure allows investment managers to select investments (usually a portfolio of listed companies) without having to factor in money coming into or leaving the fund. This stability helps the investment managers take a long-term approach to investing.
The following LICs are available in our DIO:
ETFs and LICs are listed on the ASX but may have exposure to foreign-listed securities, property, fixed interest securities and commodities. They may also hold short positions in securities. To find out more, please read the PDS or other disclosure document available from the website of the ETF or LIC issuer.
Minimum investment time frame
7 to 10 years
Risk level
High.
This risk level is based on the Standard Risk Measure. Refer to the relevant PDS for more details.
Term deposits are investments with an interest rate that is fixed for a nominated term.
Members can invest in a range of term deposits via the DIO for a variety of different terms.
| Provider | Interest rate |
|||
|---|---|---|---|---|
| 30 days | 90 days | 180 Days | 365 Days | |
| NAB | 2.30% pa | 4.27% pa | 4.15% pa | 4.08% pa |
| ME Bank (a division of Bank of Queensland) |
3.60% pa | 4.10% pa | 4.20% pa | 3.80% pa |
The interest rates shown above are current as at 4 July 2025 but are subject to change. The latest advertised rates are available in the DIO portal, which you can access through Member Online.
We’ve shown the interest rate for the DIO Transaction account below. Please note that this rate is gross of any tax that may be applicable.
| Interest rate | |
|---|---|
| Transaction account as at 4 July 2025 | 4.60 % |
Minimum investment time frame (Term deposits and Transaction account)
1 year or less
Risk level
Very low.
This risk level is based on the Standard Risk Measure. Please refer to the relevant PDS for more details.
Who can invest in the DIO
You must have:
- a minimum of $20,000 in your account
- a CareSuper super account or a Flexible Income account
- access to Member Online
- an email address recorded on your account
The DIO is not available in our TTR Income, Managed Income, Term Allocated Pension or Defined Benefit accounts.
Investing in the DIO comes with some additional rules and conditions. Find out more below.
How to invest in the DIO
- Log into Member Online
It's easy to set up your online access.
- Go to the Investments section
If you meet the eligibility criteria, you'll see a section about the DIO.
- Transfer money into a DIO Transaction account
To invest in the DIO, you first need to transfer at least $500 into a DIO Transaction account.
You can then use your Transaction account to buy and sell investments in the DIO.
You need to keep at least $500 in your Transaction account at all times, and minimum investment amounts apply to the DIO investments, so make sure you transfer enough to buy the investments you want.
- Start investing in the DIO portal
You can start investing in DIO when the money appears in your Transaction account.
You’ll need to log into the DIO portal through Member Online to view and change your DIO investments.
FAQs
The DIO will not suit everyone. It may not be suitable for members who:
- have a short investment time frame, or
- may need access to their money at short notice (e.g. to pay for insurance fees or make withdrawals).
Investors should consider the following before deciding whether the DIO is appropriate for them:
- You’ll be responsible for managing your investments. You’ll need to have a reasonable understanding of investing and how markets work.
- The DIO is only available through Member Online, and all correspondence will be sent to you by email. You need to have access to a computer and email in order to manage your investments in the DIO. For security purposes, access to Member Online from certain countries may be limited. Refer to the Terms of use for more details.
- Listed investments are likely to experience volatility in the short term. How you react to market volatility can make a big difference to your retirement savings over the long-term.
- Future transactions such as fees and withdrawals can’t be paid out of your DIO investments. You should consider whether you think you may need withdrawals when deciding how much to invest in DIO.
- If you need to break a term deposit early, you may lose some of the interest payable. See the Direct Investment option guide for more information.
- Making investment decisions in response to your emotions, or trading too frequently, can adversely affect your performance outcomes.
- CareSuper staff can’t provide financial advice on the DIO. If you need professional advice, it may come at a cost.
You must keep at least $500 in your Transaction account at all times.
You need to keep a minimum amount invested in CareSuper’s other investment options at all times.
- If you have a CareSuper super account - you must keep at least $6,000 of your account balance in other investment options at all times.
- If you have a Flexible Income account – you must keep at least $6,000 or 10% of your account balance in other investment options at all times (whichever is greater).
This ensures you have sufficient funds available to pay fees and costs, and if you’re invested in a Flexible Income account, income payments to you.
Your DIO investments may be sold to meet these requirements.
Additional rules apply, depending on the investments you choose.
When transacting in the DIO:
- A minimum trade value of $500 applies to listed securities, although if the value of a listed investment that you hold falls below $500 you are allowed to sell the investment.
- The minimum you can invest in a single term deposit is generally $5,000, however it may be higher depending on the provider. The maximum you can invest in term deposits is the lesser of $5 million or an amount determined by the term deposit provider.
- The cut-off time for switch requests into, out of and within the DIO is 4pm AEST/AEDT on a business day. Requests received after the cut-off times or submitted online on a national public holiday or weekend will be processed effective the following business day.
- You can’t invest more than 85% of your total account balance in listed securities (shares, ETFs and LICs)
- You can’t invest more than 20% of your total account balance in a single listed security.
- You can’t buy and sell the same listed security on the same day.
Read the Direct Investment option guide for full terms and conditions.
Extra fees apply to this option.
For more details about fees that apply to CareSuper products, please see Super fees and costs or Retirement fees and costs.
DIO administration fee
A DIO administration fee of $264 each year is deducted from your account.
This is calculated daily and deducted at the end of each month from your account, or when your CareSuper account is closed.
This fee is in addition to the administration fees you pay on your CareSuper account and will be deducted in accordance with your instruction for future transactions (i.e. it won’t be deducted from your DIO investments).
Brokerage fees for listed securities
Brokerage fees apply when trading in listed securities available via the DIO.
The following brokerage fees are either added to the cost of purchase, or deducted from the sale proceeds of each transaction, paid at the time of trade.
| Trade amount | Brokerage fee incl GST less RITC1 |
|---|---|
| $0 - $13,000 | $11.99 |
| $13,000+ | 0.09225% |
1Reduced Input Tax Credit (RITC) is the amount of the GST that we can claim a credit for. We’ll claim a RITC of 75% on the GST component of any brokerage fees charged. This will be paid into your Transaction account at the time of transaction.
Fees and costs for ETFs and LICs
Fees and costs may apply to the ETFs and LICs offered in the DIO. They are charged or incurred by the ETF or LIC issuer as an annual percentage for managing investments.
When you choose an ETF or LIC via the DIO, you should consider any costs that will be charged by ETF or LIC issuers, as these are in addition to the fees and costs shown on this page of the website.
The costs for ETFs and LICs range from an estimated 0.03% to 2.00% per year, based on the experience for the financial year ending 30 June 2024, and may change from time to time because of changes in the ETF or LIC issuer’s fees from year to year.
To find out more, check the relevant PDS or other disclosure documents available from the website of each ETF or LIC issuer.
Breaking a term deposit prior to maturity
If you hold a term deposit in the DIO and you request to break it before it matures, the interest you receive will be reduced except in limited circumstances. For more details, read the Direct investment option guide.
As all investments in the DIO are made via CareSuper, you benefit from the concessional tax treatment applicable to super investments.
To find out more about how tax is applied to the DIO, read the Direct investment option guide.
The DIO portal is provided by our DIO provider, FNZ. It’s mobile responsive, so you can access your DIO account on your phone or other mobile device.
To help you find your way around the FNZ portal, there’s a welcome tour which will appear the first time you log in to your DIO account. Make sure to check it out so you can familiarise yourself with how the portal works.
You can also find virtual tours of the FNZ portal from the ‘Help’ menu as well as handy FAQs and a glossary, to help you learn where to find information and request transactions.
The DIO portal is user-friendly portal with an intuitive interface.
If you have a CareSuper super account, you may be able to transfer your existing DIO investments into a Flexible Income account. This way you don’t need to sell your DIO investments and buy them again in your new Flexible Income account.
You can only transfer your DIO investments from super to Flexible Income if you’re transferring your entire account balance. If you’re transferring your entire CareSuper super account balance into a Flexible Income account, we’ll automatically transfer your existing DIO investments into your Flexible Income account.
If you’re only transferring part of your super account into a Flexible Income account, you’ll need to either keep your existing DIO investments in your CareSuper super account, or sell your DIO investments before your partial transfer can occur. Please note that minimum account balance rules apply to keeping your CareSuper super account open. Contact us for more information.
Eligibility criteria apply to Flexible Income accounts. You should consider our Retirement Income PDS when deciding whether to acquire this product.
For more details, read the Direct investment option guide.
More information about the DIO and the DIO portal is available here:
