CareSuper — superannuation fund performance
Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge
CareSuper reported A$62.3bn of total assets for 605,087 member accounts (average balance A$96k) in APRA's fund-level statistics for the year to 30 June 2025, with a one-year rate of return of 10.1%.
| Total assets | A$62.3bn |
| Member accounts | 605,087 |
| Average member balance | A$96k |
| 1-year rate of return | 10.1% |
| 5-year rate of return (annualised) | 7.5% |
| 10-year rate of return (annualised) | 6.7% |
| Investment options offered | — |
What running the fund costs
For its reporting year ended 30 June 2025, CareSuper ran on an operating expense ratio of 0.3% — the running cost per dollar of savings (0.5% is 50 cents per A$100 a year). Payments to related parties — companies connected to the fund's own trustee or owner group — came to A$98.8m, equal to roughly 65.4% of its administration bill (a related-party payment is disclosed, not improper — but it is worth knowing who the fund pays).
| Operating expense ratio | 0.3% |
| Investment expense ratio | 0.3% |
| Administration and operating expenses | A$151.0m |
| Marketing spend | A$22.9m (about A$38 per member account) |
| Executive remuneration (expensed to the fund) | A$5.4m |
| Director remuneration | A$1.4m |
| Payments to related parties | A$98.8m |
| Payments to industrial bodies | A$446k |
The annual performance test
Every year the regulator tests most super products against a benchmark portfolio — fail twice and the product must close to new members. As at 30 June 2025, 8 of this fund's products and options were tested, and every one of them passed:
| Product / option | Type | Test result | 10-yr return | Admin fee |
|---|---|---|---|---|
| SPIRIT SUPER - MYSUPER | MySuper | Pass | 7.4% | 0.3% |
| SPIRIT SUPER - ACCUMULATION — A - Growth | Choice | Pass | 8.2% | 0.3% |
| SPIRIT SUPER - ACCUMULATION — A - Capital Stable | Choice | Pass | 4.6% | 0.3% |
| SPIRIT SUPER - ACCUMULATION — A - Conservative Balanced | Choice | Pass | 5.6% | 0.3% |
| SPIRIT SUPER - ACCUMULATION — A - Sustainable Balanced | Choice | Pass | 7.5% | 0.3% |
| SPIRIT SUPER - ACCUMULATION — A - Fixed Interest | Choice | Pass | 2.0% | 0.3% |
| SPIRIT SUPER - ACCUMULATION — A - Property | Choice | Pass* | — | — |
| SPIRIT SUPER - ACCUMULATION — A - Alternative Growth | Choice | Pass | 7.2% | 0.3% |
Does the insurance pay out?
Most super accounts carry insurance, paid from your balance. The admittance rate is the share of finalised claims the insurer accepted in the year to 30 June 2025 — the single best number for "does this cover actually pay". Over the year it collected A$98.6m in premiums and paid out A$127.2m in claims (claims paid in a year often relate to earlier years' cover, so this is a cash-flow picture, not a loss ratio).
| Cover type | Claims accepted (1-yr) | Claims paid | Premiums collected | Insurer |
|---|---|---|---|---|
| Life insurance (death cover) | 98.2% | A$40.6m | A$37.3m | MetLife |
| Total & permanent disability (TPD) | 83.9% | A$72.7m | A$47.8m | MetLife |
| Income protection | 90.1% | A$13.9m | A$13.5m | MetLife |
The gender gap in this fund
In CareSuper, women's average balance was 7.5% lower than men's — from the fund-level member demographics APRA last published for the year to 30 June 2022:
| Average balance — female members | A$71k |
| Average balance — male members | A$77k |
| Member accounts (female / male) | 106,826 / 222,700 |
Compare CareSuper with similar funds
The funds closest to CareSuper in size, side by side — each with its own page for the fees, insurance and performance-test detail:
| Fund | Assets | 1-yr return | 10-yr return | Why comparable |
|---|---|---|---|---|
| CSS Fund | A$61.4bn | 0.1% | 1.2% | Similar size |
| AMP Super Fund | A$59.8bn | 10.6% | 6.7% | Similar size |
| Wealth Personal Superannuation and Pension Fund | A$68.2bn | 9.8% | 5.4% | Similar size |
| IOOF Portfolio Service Superannuation Fund | A$72.1bn | 9.6% | 5.5% | Similar size |
| Macquarie Superannuation Plan | A$49.0bn | 9.7% | 5.3% | Similar size |
| HUB24 Super Fund | A$48.9bn | 9.1% | 4.3% | Similar size |
Questions this page answers
How big is CareSuper?
CareSuper held A$62.3bn in total assets for 605,087 member accounts in the APRA fund-level statistics for the year to 30 June 2025.
What return has CareSuper delivered?
CareSuper reported a 10.1% one-year rate of return, and 6.7% a year over the past ten years, at whole-of-fund level in the APRA fund-level statistics.
What does CareSuper charge in fees?
CareSuper reported an operating expense ratio of 0.3% and an investment expense ratio of 0.3% for its reporting year ended 30 June 2025 — the running cost per dollar of savings (APRA fund-level statistics).
Did CareSuper's products pass the performance test?
8 of CareSuper's products and options were tested against the regulator's annual performance test as at 30 June 2025, and every one passed.
Does CareSuper's insurance pay out?
In its latest reported year CareSuper's default cover collected A$98.6m in premiums and paid A$127.2m in claims, per the APRA fund-level statistics.
See also: Australian super in numbers — marketing spend, expenses, the gender gap and two decades of consolidation across all APRA-regulated funds · all tracked plans.