Doing well doesn’t mean doing it all by yourself. Find out how the expert team at CareSuper can help you reach your goals.
Choose the level of control you want
Whether you want to be a little more hands-on with your super, by researching investment options available to you, or you want to leave it in the hands of experts, CareSuper lets you find your comfort zone. With your investments at CareSuper, you have the power to select your own investment strategy and we have the knowledge and tools to help you control your super investments.
It’s like you’re in the driver’s seat of a world class automobile, where all functions have been measured, timed, and chosen to give you the smoothest and most comfortable ride to retirement.
CareSuper’s investment professionals
Our specialist investment team has a combined knowledge backed by years of experience and success in investment strategy and design, financial markets, asset management, corporate governance, economics, commerce and accounting. Managing investment portfolios, keeping up with markets and accessing the latest investment software is all part of their core expertise.
Led by our Chief Investment Officer, Suzanne Branton, our investment managers, researchers, analysts and ESG specialists, make superannuation and investment their life’s work. These investment specialists manage your portfolio and you only pay for the costs associated with managing your investments. There’s no extra charge.
You have specific goals. We have the investment choices to help you reach them.
Check out our investment options or go your own way with our Direct Investment option, which lets you tailor your portfolio by combining your choice of a range of shares, exchange traded funds (ETFs), listed investment companies and term deposits, with other CareSuper options.
Meet your financial planners
While you’re gathering all the facts about what you’d like to do, call us – no charge – to talk it over with one of our planners. Limited financial advice is included in your membership.*
You can chat with our financial planners about investments, your risk appetite and other superannuation topics.
There’s a lot to consider. To better understand your needs, goals and legal obligations when it comes to saving for retirement and to help you determine whether a self-managed super fund is right for you, you may want to ask yourself the following questions, as well as any other considerations that are relevant to your specific circumstances.
If you become a trustee of a self-managed fund, it’ll take quite a large commitment of time and effort to complete all required documentation and manage the fund’s investments. While some members of SMSFs leave this to their accountant or financial adviser, it’s important to remember that the accountability ultimately lies with the trustees/members of the fund, meaning any oversight will be your responsibility. Penalties may apply if the trustee’s responsibilities are not met.
At CareSuper, (an APRA and ASIC regulated fund) we look after all the administration, investing, legal, insurance, audit and accounting requirements, meaning members do not need to take on this responsibility or time commitment.
In a self-managed fund, a robust understanding of super-related legal obligations and how to run the fund is paramount. Some advisers and accountants will offer to do a lot of the work, and probably charge fees for these ongoing services and more importantly, they may not be appropriately qualified or experienced investors.
CareSuper employs teams of appropriately qualified and experienced professionals to ensure the fund runs smoothly and is compliant with legal and regulatory obligations. This means our members can sit back and stay invested in our default Balanced (MySuper) option, or take a more active role if they wish, knowing that the risks and options are clearly identified depending on the investments selected.
As a trustee, CareSuper holds a diverse range of investments across several asset classes. Because of our size and experience, we can access some investments not generally available to individuals such as infrastructure assets and other unlisted investments both in Australia and overseas.
Trustees of SMSFs may potentially be able to invest in other assets of their choice but it’s important to keep those investments separate from the personal and business affairs of fund members.
All individual members of an SMSF can be held liable for decisions or actions that affect the fund made by themselves or others. It is important to understand that any losses are borne by all members of the SMSF and penalties may apply if the fund’s ongoing legal obligations are not met.
With an ASIC and APRA-regulated fund like CareSuper, the responsibility for all investing, administration and regulatory requirements is held by the Trustee of the fund and not the individual members.
We offer default Death and Total & permanent disablement cover, and also income protection insurance for Employee Plan members and our age and gender-based pricing model helps us deliver value for you. This is at competitive group rates and members have the option to change or opt out of the cover at any time. Insurance fees are deducted directly from the member’s super account, so it doesn’t affect their take-home pay.
Self-managed super funds do not offer automatic insurance. Members of an SMSF would need to research their insurance and go through the underwriting process themselves based their individual circumstances.
Advice on the cost-effectiveness of an SMSF, produced by the Australian Securities and Investments Commission (ASIC) says that on average, SMSFs with balances below $500,000 have lower returns after expenses and tax, and will often be uncompetitive, compared to ASIC and APRA-regulated funds.^
Costs associated with an SMSF can include set up costs, legal costs, ongoing and operational costs (such as the supervisory levy), investment borrowing and insurance costs, audit fees and costs to produce annual statements plus any wind up costs to run an SMSF, but this will vary depending on how much work is outsourced and fees charged by service providers. Investment costs will be determined by the investments selected. Whether this cost is covered by investment returns is largely linked to the amount of assets in the fund.
By comparison, CareSuper has a clear fee structure and the costs to run the fund are spread across all members.
For more information see ‘Self-managed superannuation funds – A statistical overview 2017/18’
When seeking advice around your finances, it’s important to ensure that the adviser has your best interests in mind.
Many accountants and financial advisers encourage their clients to take out a self-managed super fund, and while this may be suitable in some situations, you should be aware of the reasons why they have recommended this for you.
Ultimately, the liability of an SMSF lies with the members of the fund, not the accountant, meaning members should understand their obligations when making SMSF decisions.
Winding up an SMSF can be complex, given the amount of paperwork and tax implications involved.
Further issues can arise if members don’t have the knowledge to close the fund, if illiquid assets need to be sold and if any disagreements occur between members (for example as a result of divorce proceedings).
That’s why we’ve partnered with Findex to offer an SMSF wind up service and have negotiated a discount for CareSuper members.
If you have decided to close your self-managed super fund, or if you’d like to speak to someone about the process, request an obligation-free call-back from a Findex SMSF specialist, who will discuss the process with you in greater detail and outline the next steps.
Your Findex specialist will work with you through the entire process ensuring all of the paperwork and tax requirements are taken care of. You’ll receive guidance, checklists and help when carrying out the tasks to wind up your SMSF. Follow the link to find more information on Findex and their relationship with CareSuper.
Do you want to be an investor or a trustee? If it’s being a trustee of your own fund that you aspire to, watch these useful videos first.
- SMSF trustee education courses – ato.gov.au/smsfcourses
- SMSF trustee short videos – ato.gov.au/smsfvideos
- SMSF trustee news – ato.gov.au/smsfnews
- How super works – moneysmart.gov.au/how-super-works/self-managed-super-funds-smsf
CARE Super Pty Ltd (Trustee) ABN 91 006 670 060 AFSL 235226 CARE Super (Fund) ABN 98 172 275 725.
* Financial advice obtained over the phone, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, Australian Financial Services Licence #411766.
Advice is provided by one of our financial planners who are Authorised Representatives of Industry Funds Services Limited (IFS). IFS is responsible for any advice given to you by its Authorised Representatives. Industry Fund Services Limited ABN 54 007 016 195 AFSL 232514.
If you require more complex personal financial advice, our financial planners, in the course of their initial appointment with you, may refer you to an external advice service provided by Australian Unity Personal Financial Services Limited (ABN 26 098 725 145, AFSL 234459).
The information provided in this document is general advice only and has been prepared without taking into account your particular financial needs, circumstances or objectives. You should consider your own investment objectives, financial situation and needs and read the appropriate product disclosure statement before making an investment decision. You may also wish to consult a licensed financial adviser.