Updates to your investments and insurance options

We believe in keeping you informed about any changes we make, so we want to share some important updates to our investments and insurance. These changes are also reflected in our latest Product Disclosure Statements.

We’ve made some changes to our investment options

At CareSuper, we're always working to provide you with the best investment choices to help you reach your financial goals. Our recent investment changes are outlined below. These changes came into effect from 29 September 2023. 


Capital Stable option: We've adjusted the return objective for our Capital Stable option. Previously, it aimed to earn returns after taxes and fees that were at least 1.5% higher than inflation each year (over ten years). We've modified this to 1.0% higher than inflation (over ten years). This change reflects our expectations of a slower growth economy with higher inflation in the medium term.

Capital Guaranteed option: We've removed the market-based return objective for this option but the other two goals – providing a smooth return and providing full capital guarantee remains. As this option primarily invests in cash products and attracts additional costs for providing the Capital Guarantee, it’s unlikely to outperform the return on cash in the near term. 

Australian Shares, Overseas Shares, Direct Property, and Fixed Interest Options: We've kept the primary market-based return objectives for these options but have removed the secondary goals linked to the Consumer Price Index (CPI). This change is in response to alignment with industry practices and market conditions. For full details of the primary market-based objectives please refer to our website or consult the Investment Guide.


We're excited to announce the addition of a new asset class known as 'thematic opportunities' to our diversified investment options. This asset class is specifically designed to provide performance distinct from traditional stocks and bonds. Our goal with 'thematic opportunities' is to take advantage of emerging economic and investment trends, enhance long-term returns, and bring further diversity to our Managed investment options. 
We will introduce 'thematic opportunities' with an initial allocation of zero, but our intention is to gradually build up this allocation over the course of the year.


Managed Options: Following the annual review of our investment options, we’ve made some adjustments to the composition and ranges of our Managed options. Below, you'll find a comparison of the previous and updated structure for our Balanced (MySuper) option – where most of our members are invested.

Old asset mix - Balanced (mySuper) option 

Asset class Benchmark % Range%
Australian shares 23 10-40
Overseas shares 26 10-40
Property 10 0-25
Alternatives (total)
- Credit (7)
- Infrastructure (10)
- Absolute return (7)
- Private equity (5)
29 0-55
Fixed interest 7 0-30
Cash 5 0-30

New asset mix - Balanced (mySuper) option  

Asset class Benchmark % Range %
Australian shares 23 10-40
Overseas shares 26 10-40
Private equity 5 0-20
Direct property 10 0-25
Infrastructure 10 0-25
Credit 7 0-20
Alternatives (total)
- Absolute return (4)
- Thematic opportunities (0)
4 0-20
Fixed interest 8 0-30
Cash 7 0-30

For details on similar changes to our other diversified options, please refer to our website or consult the Investment Guide.

Asset class options: The asset mixes for all our asset class options will remain the same, with the exception of the Fixed Interest Investment Option. Previously, this option consisted of 75% fixed interest and 25% cash. Now we’ve adjusted it to include 95% fixed interest and 5% cash. This change is due to the current higher yields available in today’s market.  


We have broadened one of our investment restrictions in the Sustainable Balanced Option SBO). Previously, we limited investments in companies generating over 10% of their revenue from thermal coal production and power generation. Now, these restrictions apply to all fossil fuels. 
For comprehensive information regarding the criteria for both negative and positive screens in this option, please visit our website or refer to the Investment Guide.

We’re pleased to introduce new and improved insurance flexibility 

We’ve introduced life events cover for Employee Plan and Personal Plan members from 1 October 2023. Life events cover is a new way you can apply to increase your existing insurance cover at certain stages of your life when your circumstances have changed. You now have access to a special offer to increase your existing death, total and permanent disablement and income protection cover if you meet certain criteria and experience one of these life events: 

  • Get married or register a de facto relationship 
  • Get divorced or a separation
  • Your spouse or de facto dies
  • Birth or adoption of a child
  • Your child commences secondary school
  • You take out an initial mortgage or increase an existing mortgage on your home 
  • You have a milestone birthday of 30, 40 or 50
  • You receive an increase in your income (for income protection cover only).

For further information on what criteria and conditions apply and how it works, please refer to your Insurance Guide available on our Forms and Publications page.

Changes to investment fees from 1 July 2023

Each year we’re required to review and calculate the estimated fees and costs across all investment options.

The review this year has resulted in increases for the options in the tables below. The remaining options have either remained the same or, in some cases like the Balanced (MySuper) option where the majority of our members are invested, the investment fees have slightly decreased from 0.70% to 0.69%.

Super and Transition to Retirement members – Estimated fee changes

Investment option Previous fee* New fee from 1 July 2023*
Capital Stable 0.38% 0.40%
Conservative Balanced 0.42% 0.44%
Balanced (MySuper) 0.70% 0.69%
Sustainable Balanced 0.71% 0.67%
Alternative Growth 0.61% 0.64%
Growth 0.71% 0.69%
Capital Guaranteed 0.32% 0.28%
Cash 0.06% 0.05%
Fixed Interest 0.19% 0.18%
Direct Property 0.56% 0.62%
Australian Shares 0.50% 0.45%
Overseas Shares 0.52% 0.42%

Pension members – Estimated fee changes

Investment option Previous fee* New fee from 1 July 2023*
Capital Stable 0.39% 0.41%
Conservative Balanced 0.45% 0.46%
Balanced 0.70% 0.69%
Sustainable Balanced 0.65% 0.64%
Alternative Growth 0.58% 0.58%
Growth 0.71% 0.69%
Capital Guaranteed 0.32% 0.30%
Cash 0.06% 0.05%
Fixed Interest 0.19% 0.18%
Direct Property 0.50% 0.56%
Australian Shares 0.49% 0.43%
Overseas Shares 0.49% 0.40%

*Investment fees include performance fees and transaction costs and are indicative only, based on the latest information available. These fees will vary in subsequent years depending on the actual fees and costs incurred by the Trustee in managing each investment option. 

We’re here to help

If you have questions or need more information about these updates, please call us on 1300 360 149 8am–8pm (AET) weekdays. You can also send us a message.