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A lot has happened recently. Let’s take stock.

Super updates
23 August 2019
A lot has happened recently. Let’s take stock.

It's been a big six months, full of legislative changes and CareSuper updates. Feel like you might’ve missed something? In this article, we round up some big recent changes (and some tiny new ones). Have a skim to see if you need to take any action and follow our ‘next steps’ if you do. You’ve got this.


We did this to align with the Government’s Protecting Your Super package (more on that later), and to evolve our product so it’s more sustainable for everyone.

All (existing) super members were affected

If you were a member with insurance before 1 August, your arrangement changed. We gave you some choices at the time if the new set-up wasn’t quite what you wanted.

If you’ve just joined, you would’ve received our updated cover. (Welcome! Did you know we’re required to give new members* certain types of insurance?) You can tailor or cancel any time through MemberOnline, or by getting in contact with us, if it doesn’t suit your needs.

* Applies only to Employee Plan members – those of you who joined through your employer.

Next steps


The Protecting Your Super (PYS) package was introduced on 1 July to stop accounts being eroded by fees and insurance costs.

While the legislation affects both super and pension accounts, right here we’re just talking about super.

‘Inactive’ accounts will lose insurance and may be rolled out

An account is considered ‘inactive’ if no money goes in for 16 months in a row. If this is you, here’s what will happen:

  • Your insurance will be cancelled
  • Your account will be transferred out to the Australian Taxation Office (ATO) if your balance is less than $6000. The ATO will transfer it to an active fund if you have one or keep it until you claim it. You won’t pay fees, but you won’t receive investment returns on your money either – just CPI.

How to keep your insurance cover

Inactive account with a balance less than $6,000? You can reactivate it by:

Because this legislation’s ongoing, your account could become inactive in future. We’ll reach out to you before this happens, so you can take action if it’s the right move for you. In the meantime, check your personal details are correct in MemberOnline.

There’s more to PYS

For full details about this legislation package, visit our FAQs


Here’s some other recent changes we’d like to share with you regarding fees and investments.

  • For balances under $6000 - the fees and costs on your account were capped at 3% from 1 July, in line with PYS legislation.
  • On 1 August we changed the name of one of our investment options. Capital Secure is now called ‘Cash’. Only the name changed – the underlying investments and objectives are the same as they were before.
  • Total investment related fees and costs (made up of an investment fee plus and indirect cost ratio) have been updated to 30 June 2019. Most went down, two (Cash and Fixed Interest) stayed the same, and Direct Property increased. This increase was due to higher transaction costs that came with the sale and purchase of multiple assets by our property managers during the year.
  • We’re big on transparency, so we’ve given a more detailed explanation of how the ‘guarantee’ works for our Capital Guaranteed investment option. Here’s the new description in full

Next steps

You don’t need to do anything, but you can learn more about our fees and investments on our website or in our disclosure documents.


Our goal is to make your super as successful as possible and that includes taking the time to help you understand it. Get in touch here or call us on 1300 360 149 if you have any questions. (Please note, call wait times may be longer than usual right now due to these changes, but we will get to you.)

This content was correct at time of publishing. However, there may be more legislative changes in the pipeline.


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Regardless of your goals or life stage, f.ind offers a collection of resources covering all aspects of your super journey. From investment choice to insurance, f.ind can help set you up to achieve a future of independence.