CARE Super (stylised CareSuper) is an Australian
industry super fund.
It was established in 1986, as a retirement fund for people in professional, managerial, administration and service industries. It services over 500,000 members Australia-wide and has $53 billion in funds under management.
As a mutual fund, all profits earned by CareSuper's trustee is returned to members of the fund.
History
Formerly the ‘Clerical, Administrative and Related Employees Superannuation Plan’, CareSuper was established in 1986 as one of the early industry superannuation funds in Australia to meet
award
An award, sometimes called a distinction, is given to a recipient as a token of recognition of excellence in a certain field. When the token is a medal, ribbon or other item designed for wearing, it is known as a decoration.
An award may be d ...
super requirements.
In the new year of 1987, companies were invited to participate in CareSuper, the first to join was
Siemens
Siemens AG ( ) is a German multinational technology conglomerate. It is focused on industrial automation, building automation, rail transport and health technology. Siemens is the largest engineering company in Europe, and holds the positi ...
Limited.
In 1999, CareSuper became a public offer fund, enabling non employer-sponsored individuals to join the CareSuper Personal Plan.
In July 2007, CareSuper introduced a Pension product, allowing members to stay with the fund as they move towards or commence retirement.
In 2011, retired Australian swimmer
Giaan Rooney
Giaan Leigh Rooney, OAM (born 15 November 1982) is an Australian former competitive swimmer and television personality. As a member of the Australian team in women's 4×100-metre medley relay, she won an Olympic gold medal and broke a world ...
became the face of CareSuper. As CareSuper's brand ambassador, she regularly featured in CareSuper's television advertisements and events. Her ambassadorship concluded in 2024.
It was announced in September 2011 that the then $4.9 billion fund CareSuper and $1.6 billion fund Asset Super were in talks to conduct a merger of the two funds.
The merger was completed on 27 October 2012, with 4 Trustee Directors from Asset joining the existing 9 Trustee Directors on the Board of CareSuper.
It was announced in June 2023 that the fund would enter into a binding agreement to merge with Spirit Super. The merger was completed on 1 November 2024.
See also
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Retail super fund
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Superannuation in Australia
Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement. Employers ma ...
References
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Superannuation funds in Australia
Australian companies established in 1986