A message from our CEO – December 2023

Well, I can’t believe it’s the end of the year, and what a busy year it’s been. This time is always one for reflection on all aspects of our lives. Naturally, our financial situation is an important part of how we feel now and how we see our future. Whatever your stage of life, I’m confident we’ve got you covered.

I joined CareSuper as CEO in March this year, taking the reins from Julie Lander. I’m proud to be part of an award-winning fund whose member-first ethos has enabled us to continue to deliver strong positive outcomes for our members.

Our long-term returns remain strong

It’s been an excellent year for both super and pension members with our Balanced (MySuper) option, where most CareSuper members invest, delivering a return of 9.05% to 30 June 2023, and our pension Balanced option returning 9.59% over the same period.* We’re proud to be a top performing super fund with a consistent track record of outperformance over the long term— helping you enjoy your future lifestyle after work.

We were also proud to win industry awards – notably ratings agency SuperRatings’ best value-for-money MySuper product for 2023, and winner of the SuperRatings’ Smooth Ride award for our investment strategy that outperforms and protects your super.

Change is on the horizon

We formally announced that we’ll be merging with Spirit Super in late 2024, following extensive due diligence. This will create a combined fund with more than 500,000 members and almost $50 billion in funds under management.

We’ll share more information and keep you updated on any changes as we get closer to the merger next year. For now, it’s business as usual and nothing’s changing for our members. You’ll remain a member of CareSuper and our dedicated team will continue to look after your account and manage your investments. Our team will continue to work to achieve strong long-term returns, deliver good value and service and support you to achieve your financial goals.

Committed to our Net Zero journey

Earlier this year we released our Net Zero Roadmap. Being a fund that invests responsibly, we acknowledge climate change is a systemic risk that has the potential to significantly affect our members’ retirement outcomes. That’s why we’re committed to reaching net zero greenhouse gas emissions across our investment portfolio by 2050. This builds on our existing program to manage climate-related risks and deliver our members strong long-term returns.

Insurance changes

We also updated our insurance offering to help us deliver flexible cover that continues to meet our members’ needs, and so we remain affordable and fair over the long term. For most of our members, your insurance fees are now lower — meaning more super stays in your account for you to enjoy at retirement. 
Elsewhere, we introduced Life events insurance cover, an added flexibility that allow you to apply to increase your existing insurance cover at certain stages of your life or when your circumstances have changed. We also introduced 360Health, which gives all our members, and their immediate families, access to a team of qualified online mental health and medical professionals at no extra cost. 

We’re here for you

I’d like to remind you that we have a team of financial planners who are here to help you with your super. Whether you want to sort out your super to get it working hard for you, or you’re ready to start planning for your retirement, we have experts who can help you.  I encourage you to take advantage of the services on offer so we can help you have a brighter future. 

On behalf of the entire Executive leadership and CareSuper team, I’d like to say thank you. We look forward to the opportunities and challenges that await in 2024 and remain grateful to you for the trust you put in us to manage your retirement savings. 

I hope you all enjoy the festive season with your family and friends. I’ll be spending mine having a family holiday in New Zealand and planning for another busy year. 

Before you go, we’d love to hear what investment-related content you’d like to hear about from us. Let us know using the form below. 

Stay safe and all the best for 2024.  
 

*SuperRatings SR50 Balanced (60-76 Median) Index, June 2023