Direct Investment option changes

Between 2pm AEST 11 April and 5 May 2025, you can't access your DIO investments or request transactions. You’ll still have access to your CareSuper account and you’ll be able to change your non-DIO investments, update your account details and transact using your non-DIO investments.

The temporary pause to DIO online services started at 2pm AEST 11 April 2025. We’re expecting services to resume by 5 May 2025.

Between 2pm AEST 11 April and 5 May 2025, DIO members won’t be able to: 

• access the DIO portal
• transact on DIO investments (for example buy or sell shares)
• transfer money into the DIO 
• transfer money from the DIO into another CareSuper investment option
• close your CareSuper account
• transfer from a CareSuper super account to a Flexible Income account.

You’ll still:

• have access to your CareSuper account 
• be able to change your non-DIO investments and update your account details 
• be able to switch investments and transact using your non-DIO investments.

Market volatility is a normal part of investing, and listed investments like the ones in the DIO are likely to experience volatility in the short term.

You won't be able to trade on your DIO investments during the limited service period, even if there are significant changes in the value of your investments or market movements.

We also can't place trades on your behalf because DIO is a self-service only offering.

We’re sorry for the inconvenience.

Unfortunately, you'll need to wait until the limited service period is over to place any trade instructions in the new DIO portal. This can only be accessed via Member Online.

The DIO isn’t intended for or suitable for short-term trading. To help you structure your holdings in light of this change, we’re giving you as much notice as we can about the upcoming limited service period.

We’re sorry for the frustration this will cause, and we won’t be reimbursing members. Your DIO investments will remain invested during the limited service period, and the DIO administration fee will continue to apply.

You’ll have access to your DIO investments on 5 May 2025. 

Yes. Even though your DIO access will be temporarily paused, your DIO investments will remain invested. Any investment earnings such as dividends and interest will continue to be applied to your account, and the DIO administration fee will continue to apply. 

While we transition to the new service provider, we need to temporarily bring the DIO platform offline for a short time. This will allow us to securely transfer all DIO investments and data from OneVue to FNZ.

We’re sorry for the frustration this will cause. 

During the limited service period, your DIO investments will remain invested and any investment earnings such as dividends and interest will continue to be applied to your account. We’ll be unable to perform any transactions on your behalf during the limited service period.

DIO members won’t be able to access any historical transaction information or reports about DIO investments after the transfer to FNZ. 

You can download and save any transaction information and reports from the DIO portal before 11 April 2025.

CareSuper may have limited access to some information for record-keeping purposes, which will only be available to members on request.

If you hold a term deposit that’s maturing after 16 April 2025, we’ll have to terminate it before the limited service period starts. 

Unfortunately, the new platform can’t accept existing term deposits so these can’t be transferred over. We’re sorry for the inconvenience.

We’ll reimburse you for any interest you lose as well as any penalties the term deposit provider may apply. You’ll receive an update about this once we have the confirmed transaction details available.

The move to the new FNZ platform requires a slight change in the custodial structure of the assets. While CareSuper will remain the ultimate holder of the assets, banks are reluctant to make any changes to the account name of a term deposit, no matter how minor. As such, banks won’t transfer term deposits, which is why we need to terminate them early.

We’re sorry for the inconvenience, and we’ll be reimbursing the affected members for lost interest and any penalties imposed by the banks. 

Any income you receive from your DIO investments during the limited service period will be paid into your DIO Cash account after the transfer to FNZ is complete. This includes dividends, distributions and interest payments. 

When you buy listed securities, such as shares, and they go up in value you have an unrealised capital gain. If you were to sell these shares you would realise the gain and tax may be payable.

In the OneVue platform, members would simply see the market value of the shares, but in reality, if you sold down your holdings you may have received less than the market value once the applicable capital gains tax had been paid.

The new FNZ platform makes an estimate of any capital gains tax that would be payable if you sell your holdings, and adjusts your portfolio value accordingly. This gives members a more accurate estimate of what you would receive if you cashed out your DIO account.

Members with a Flexible Income account won’t be affected by this change, as investment earnings aren’t taxed in retirement income accounts.

One limitation of the new platform is there’s no ability to exercise company options. This is a technology limitation of the platform.

Any un-executed trades in your account were cancelled at 4pm AEST on 11 April. You’ll be able to request transactions again after online services resume from 5 May 2025.

Here’s how the DIO fees will be changing.

Type of fee or cost	Current amount	Amount from 26 April 2025
DIO administration fee	$120 each year, calculated daily and deducted from your account at the end of each month or when your CareSuper account is closed.	$264 each year, calculated daily and deducted from your account at the end of each month or when your CareSuper account is closed.
Brokerage fees applicable to listed securities	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. For trades up to $20,000, the brokerage fee is $22.00 (including GST).  For trades between $20,001 and $10,000,000, the brokerage fee is 0.11% (including GST). We’re unable to claim a Reduced Input Tax Credit (RITC) on the GST component of any brokerage fees charged. As such, this benefit is not passed on to members.	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. For trades up to $13,000, the brokerage fee is $11.99 (including GST less RITC3).  For trades over $13,000, the brokerage fee is 0.09225% (including GST less RITC3). We will claim a RITC of 75% on the GST component of any brokerage fees charged. We will pass this on to you and it will be paid into your DIO Cash account at the time of the transaction.
Fees for breaking a term deposit prior to maturity	If you hold a term deposit and you request to break it before it matures, the term deposit provider may charge a fee or reduce the interest you may receive.	If you hold a term deposit and you request to break it before it matures, your interest will be reduced as follows: If the term deposit has been invested for less than 50% of the original term, the interest is reduced by 50%.  If the term deposit has been invested for 50% or more of the original term, the interest is reduced by 20%. This penalty may not be applied in certain circumstances.

3 Reduced Input Tax Credit (RITC) is the amount of the GST that we can claim a credit for. 

We’re currently unable to claim a RITC on the GST component of any brokerage fees charged. As such, this benefit is not currently passed on to members. However, once we transfer to FNZ we’ll be able to claim a RITC of 75% on the GST component of any brokerage fees charged. We’ll pass this onto you, and it will be paid into your DIO Cash account at the time of the transaction.  

DIO fees are applied in addition to ongoing fees and costs that apply to your CareSuper account. For more details about our fees and costs, refer to the relevant PDS.

We’re moving to a new platform provider, FNZ. 
FNZ’s platform offering is more sophisticated than our previous provider and there’s an increased cost involved, which is reflected in the higher DIO administration fee. 
We’re confident our members will enjoy the functionality and features of the FNZ platform and that our DIO is still a competitive and value-for-money product.
As a profit-to-member fund, we keep our fees as competitive as we can. Here are the fees you’ll pay if you have a super account with us, and our retirement fees and costs.

The FNZ platform does provide some new enhancements, including dividend reinvestment plans (DRPs) for listed securities that offer them and a better rate of interest on the DIO Cash account. DIO members will enjoy a mobile-friendly portal that they can log in to while on the go, which is an improvement on the current portal. 

Our DIO administration fee of $264 per year allows access to S&P/ASX 300 securities, exchange traded funds (ETFs), listed investment companies (LICs) and term deposits, all conveniently managed within your CareSuper account. This amount is comparable to similar products from other super funds, and reflects the costs involved in providing this option to our members.

After exploring other suppliers in the market, we’ve chosen FNZ to deliver our DIO product. 

FNZ has proven expertise in administering investment platforms and a strong reputation in the Australian financial services industry. They’re currently providing investment platform services to several other superannuation funds. 

We’re confident that by partnering with them, we can continue to provide our members with a high-quality experience and a more sophisticated DIO offering.

Once we’ve moved to the FNZ platform, DIO members will notice a new-look portal that’s easier to navigate and transact in.

The new portal will look a little different to what you’re used to but overall, it should be more user-friendly and intuitive, while still offering all the same great features of the DIO you’re used to. 

CareSuper’s agreement with the current DIO platform provider is coming to an end soon and we needed to find a new solution for members.

Our recent merger meant many changes for our members. We’ve scheduled the DIO changes to happen in mid-2025 to help us focus on delivering key initiatives to members as successfully as possible.

There won’t be any changes regarding corporate actions, when compared to your current experience. We reserve the right to allow members to participate in ’approved’ corporate actions. In practice, there shouldn’t be any difference in the corporate actions you can participate in in the FNZ platform, with two exceptions:

• Members will be able to participate in dividend reinvestment plans
• Members will no longer be able to exercise company options

Your historical account information and transactions won’t be transferred across to the FNZ portal.

You can download and save any transaction information and reports from the DIO portal before 11 April 2025.

If you’ve been a DIO member for a little while, you may be able to refer to your historical annual statements in Member Online for some historical DIO transaction information too. 

Research on listed securities will be available in the new DIO portal by July 2025. We’ll email DIO members once this feature is back.

You can download and save any research reports from the DIO portal before 11 April 2025 and use the internet and investment news sites for insights as well.

Our DIO is designed for members who are looking to take an active role in managing their super. It offers members more flexibility and choice about how part of their super is invested. 

It’s not suitable for everyone, and the extra fees applicable to this product make it more expensive than our other investment options.

Here are some things to consider:

• Are you comfortable choosing your own investments?
• Can you easily access your account online to buy and sell investments and track your account?
• Do you have a reasonable understanding of investing and how markets work?
• If you’ve chosen to invest in shares, exchange-traded funds and listed investment companies, can you handle the additional volatility that comes with these investments?
• Do you need to make withdrawals from your account? Withdrawals from the DIO take extra time and can cause delays.
• Do you need financial advice about your investments? Our staff can’t provide financial advice about the DIO so we may not be able to offer you the support you need. 

How you answer these questions might help you decide if the DIO is still right for you. 

You can find out more about exiting the DIO in our Direct Investment option guide. Go to the ‘Exiting the DIO’ section.

It can take a little while to exit the DIO, so keep this in mind if you need to access your funds urgently. Corporate actions or trading restrictions outside the trustee’s control can also delay payments or transfers from the DIO.