CareSuper and Spirit Super to explore merger

9 November 2022

CareSuper and Spirit Super have entered into a preliminary non-binding Memorandum of Understanding (MOU) to explore a possible merger between the two funds. If undertaken, it would create a combined fund with over 500,000 members and over $45b in Funds Under Management (FUM).

In a joint statement the Chair of CareSuper, Cr Linda Scott and the Chair of Spirit Super, Naomi Edwards said:

“Both funds have identified a shared common vision to potentially create a mid-sized fund that provides a distinct point of difference in the market.

“Both funds will now undertake extensive due diligence, before any decision is made, to ensure a merger is in the best financial interests for members of both funds. This process will take several months. In the meantime, the funds will continue to operate independently with no disruption to operations, each focused on continuing to deliver positive outcomes for members.

“Both CareSuper and Spirit Super members can be assured they will be kept informed of any material decisions. There is no change to any aspect of any member’s funds, investments or insurances as a result of this preliminary non-binding MOU.”


CareSuper was established in 1986 to look after super for professionals. It is one of the largest industry funds for people in professional, managerial, administrative and service occupations in all business sectors. CareSuper has over 220,000 members and $20 billion in funds under management.

Spirit Super was established in 2021 through the merger of Tasplan and MTAA Super. As an industry fund for hard working Australians, they are focused on growing membership in rural and regional Australia. Spirit Super has over 324,000 members and $25 billion in funds under management.


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


CARE Super Pty Ltd (Trustee) ABN 91 006 670 060 | AFSL 235226 CARE Super (Fund) ABN 98 172 275 725

Motor Trades Association of Australia Superannuation Fund Pty Limited (Trustee) ABN 14 008 650 628 | AFSL 238 718 Spirit Super (Fund) ABN 74 559 365 913