We keep a close eye on investment performance and spending and we’re transparent about what it costs to run CareSuper successfully for members.
Dated as at 30 June 2020.
The information below is a summary of CareSuper’s financial statements for the last two years. Full financial statements and the auditor’s report are available here on our website.
|Cash and cash equivalents||47,446||45,955|
|Net assets available for member benefits||16,222,728||16,312,507|
|Less: Member benefits||16,112,467||16,146,940|
|Operational risk reserve||40,654||39,699|
|Administration and operating||(55,285)||55,504|
|Income tax (expense)/benefit||(57,321)||17,396|
|Results after income tax||(91,098)||968,279|
|Less net benefits allocated to members||35,792||971,940|
|Operating result after income tax||(55,306)||(3,661)|
|Opening balance of member benefits||16,146,940||14,651,061|
|Net investment earnings||6,075||1,017,137|
|Administration and other fees||41,867||45,198|
|Closing balance of member benefits||16,112,467||16,146,940|
Financial statements for both CareSuper (fund) and CARE Super Pty Ltd (trustee) are available on our website. For a printed copy of the financial statements, call us on 1300 360 149.
We take members’ concerns seriously and investigate all enquiries and complaints to try and resolve them quickly. We’ll do our best to answer complaints with a written response of the outcome within 90 days from receiving it or explain why we have been unable to complete the investigation within this timeframe. As part of our commitment to the Insurance in Superannuation Code of Practice (ICOP), our timeframe to provide responses to insurance-related complaints will reduce from 90 days to 45 days from 1 January 2021.
Where we have been able to resolve it over the phone within five days, we generally won’t write to members unless they ask us to. Complaints can be made in writing, over the phone or electronically using the contact information in the ‘getting in touch’ section below or members can also use this contact form.
Alternatively, members can take the matter to the Australian Financial Complaints Authority (AFCA). AFCA is an independent and impartial ombudsman and is a free service.
We are required to pay the super of former temporary residents to the ATO if it’s been more than six months since they departed Australia and their visa has expired or been cancelled. We rely on relief from ASIC to the effect that we are not obliged to notify or give an exit statement to a non-resident in these circumstances. Non-residents can apply to the Commissioner of Taxation to claim the unclaimed super. Visit ato.gov.au for more information.
CareSuper is required to notify members of any material change to the Fund that will affect their super or pension account. This includes but is not limited to changes to fees or costs or to product design. The information must be provided within a ‘significant event notice’ (SEN) at least 30 days prior to the change occurring. The SEN must clearly outline the change and the effect it may have on the member’s account.
It’s important we have the correct contact details for our members for when we need to send them important information, including their annual statement. Members can check and update their details in the ‘Personal details’ section of MemberOnline or by contacting us.
1300 360 149 (Australia)
+613 9067 2619 (overseas)
8am–8pm weekdays AET, except national public holidays
Locked Bag 20019
Melbourne, VIC 3001
Level 6, 447 Collins Street,
Melbourne VIC 3000