CareSuper vs AustralianSuper – These are two popular super funds in Australia – but do you know how they differ, or which could be the better fit for you? To make it easy, we’ve compared the key features of both funds side by side. 

AustralianSuper is the largest superannuation fund in Australia, and is a not-for-profit fund with an industry membership base. Membership is open to anyone within Australia.

CareSuper has over 230,000 members and is focused on members working in professional, managerial, administration and service occupations. It is also a not-for-profit fund with an industry membership base. Membership is open to anyone within Australia.

CareSuper vs AustralianSuper: How do fees compare?

When comparing AustralianSuper and CareSuper fees, AustralianSuper has lower annual percentage based fees, with a 0.67% investment based fee, compared to CareSuper’s percentage based fees of 1.00%. AustralianSuper has a higher flat fee of $137.80, while CareSuper has a flat fee of $78.00.

CareSuper vs AustralianSuper: How does performance compare?

AustralianSuper CareSuper
Type of fund Industry super fund not linked to any specific industry. Industry super fund focused on members working in professional, managerial, administration and service occupations.
Members 2.3 million 230K
Default Fees (Based on 50K) $472.80 $578.00
Asset Allocation (MySuper option) AustralianSuper Balanced:
International Shares - 31%
Australian Shares - 21%
Alternative - 19.5%
CareSuper Balanced Growth:
Alternatives - 31%
International Shares - 26%
Australian Shares - 22%
Performance (MySuper option)* AustralianSuper Balanced:
1 Year: 9.80%
3 Year: 9.08%
5 Year: 9.14%
CareSuper Balanced:
1 Year: 8.30%
3 Year: 7.72%
5 Year: 7.88%
Product Disclosure Statement AustralianSuper Product Disclosure Statement CareSuper Product Disclosure Statement

*Performance as at 28 February 2022.

How does AustralianSuper and CareSuper insurance compare?

Insurance is also an important factor to consider when looking at superannuation options, as some funds may also provide insurance cover – such as life cover and TPD insurance. Insurance fees will affect super balance, so ensuring you’re happy with the deal you have is vital. Based on ratings from Omnilife, AustralianSuper received an insurance rating of 66/100, whilst CareSuper has received a rating of 64/100 for its insurance options. 

Interested in seeing how AustralianSuper and CareSuper compared to other popular Australian funds? Review My Super provides valuable insights on the best and worst performing super funds, so that you can make informed decisions on where you invest your money.

Review My Super can review every Super Fund in Australia and can help you understand what YOUR money is doing for YOU!

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