Welcome to CareSuper
From 30 October 2020 your Perpetual MySuper account will transfer to the CareSuper MySuper product and you’ll become a member of CareSuper.

THE PERPETUAL MYSUPER SUCCESSOR FUND TRANSFER

The Perpetual Super Trustee Board has selected CareSuper as its MySuper successor fund. This means Perpetual MySuper members and assets will move into CareSuper on 30 October 2020.

As a result of the successor fund transfer your Perpetual MySuper account will automatically transfer into CareSuper. From 30 October 2020 CareSuper will be your new super fund.

REASON FOR THE TRANSFER

The Trustee of Perpetual MySuper conducted a review on how best to improve member outcomes. This review determined that transferring Perpetual MySuper members across to the CareSuper MySuper product will result in delivering better value.

WHAT IT MEANS FOR YOU

You will become a member of CareSuper and no longer be a member of Perpetual. Your account details, fees and costs, investment strategy and any insurance cover you hold will change, as outlined in the Perpetual MySuper Successor Fund Transfer Significant Event Notice (Perpetual SEN) sent to you in September.

Right from the start you’ll be part of an award-winning industry fund with consistently strong investment returns*

* Past performance is not a reliable indicator of future performance.

DISCOVER CARESUPER

Established in 1986, we manage more than $16 billion in assets for around 230,000 members Australia-wide. As an industry fund we’re run to benefit members, no one else.

Investment performance

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Competitive fees and costs

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Financial advice

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Key Date

Perpetual MySuper transfers to CareSuper
30 October 2020.

Next Steps

The transfer will happen automatically on 30 October at no cost to you.

As part of the transfer, there are some things you may need to do to get your super organised.

Refer to the Perpetual SEN sent to you in September for more details.

Limited Services Period
To enable the transfer, account transactions (including applications for early release of super under COVID-19) will be limited from 23 October 2020 to 16 November 2020 so it's important to get organised ahead of these dates.

Access your Perpetual MySuper account details
Not sure how to check your Perpetual MySuper account details? You can access them through your Perpetual MySuper online account or call Perpetual on 1800 003 001 and they’ll check your details for you.

After 30 October

  Scroll to see the complete table  
Action Complete date
Review your beneficiaries
Any binding or non-binding death nomination will be transferred across to CareSuper as a non-binding nomination. To make a new binding nomination, complete a Binding beneficiary nomination form.
Find out more about nominating beneficiaries
From 30 October 2020
Continue your third-party authority
If you would like to continue your third-party authority on your CareSuper account, you need to submit a new authority request to CareSuper after the transfer.
From 30 October 2020

FREQUENTLY ASKED QUESTIONS

What is a successor fund transfer?

A successor fund transfer involves the transfer of members from one superannuation fund to another. This is done only when both fund Trustees believe the transfer is in members’ best interests.

I am happy with Perpetual MySuper, why do I have to transfer to CareSuper MySuper?

The Trustees of both Perpetual and CareSuper have agreed the transfer is in members’ best interests and will deliver more value to you. Member consent is not required in a successor fund transfer. If you have any concerns about the transfer, contact Perpetual on 1800 003 001.

At CareSuper we’re looking forward to looking after you and your super. If you'd like to know more about CareSuper membership, contact us on 1300 360 149. We're here to help.

How will CareSuper benefit me?

You’ll become a member of the largest industry fund for professionals; run solely to benefit members, no one else. See how we compare and the extra Member benefits available to you.

Is there a cost to transfer my account to CareSuper?

No. There is no cost to transfer your Perpetual MySuper account to CareSuper.

Do I need to do anything regarding the transfer?

No action is required from you for the transfer to take place. However, you've been provided with a useful checklist of things to consider before and after the transfer to CareSuper.

Refer to the Perpetual SEN sent to you in September for full details of the transfer and the handy checklist.

What happens when my account transfers to CareSuper?

Your membership

Your account balance will transfer from Perpetual MySuper to CareSuper and you will become a CareSuper member.

Once your Perpetual MySuper account is closed you will receive an exit statement with your final Perpetual MySuper account details.

When your CareSuper account is set up you will receive a Welcome Pack from CareSuper. This includes:

  • Your new membership details
  • How to log in to your online account
  • How your funds are invested
  • Your insurance cover (if applicable)
  • A Binding beneficiary nomination form
What happens if I’m making voluntary contributions to my super?

You will be provided with new contribution details to make additional before or after-tax contributions to your CareSuper account. The current Perpetual details will no longer work and will not be accepted. This does not affect any current employer contributions which should be automatically redirected to your CareSuper account.

What will happen to my online access?

You will have access to your Perpetual MySuper online account until further notice.

In your welcome pack, we’ll let you know how to access the CareSuper MemberOnline portal. You will need an email address to register for MemberOnline.

Will the fees and costs on my account change?

Yes. Refer to the Perpetual SEN sent to you in September for details of the changes to fees and costs.

Find out more about what it costs to be a CareSuper member.

What are the differences in investment options?

Refer to the Perpetual SEN sent to you in September for the difference between Perpetual and CareSuper’s investment options.

Our investment options have consistently produced strong investment returns*. See how our MySuper Balanced investment option performs.

We offer 13 different investment options, including the Balanced (MySuper) option, letting you mix and match your investments to suit your goals.

* Past performance is not a reliable indicator of future performance and you should consider the PDS before making investment decisions.

Will my insurance change when my account transfers?

Existing insurance cover with Perpetual

If you have insurance through your Perpetual MySuper account, it will stop once your account is closed. When your account is transferred to CareSuper effective 30 October 2020 you will be under a new policy. If your balance is under $6,000, or you are under 25 years of age at the time of transfer, you will need to elect to keep your cover by completing and returning an Elect to have insurance cover form by 30 November 2020. Otherwise you won't have cover with CareSuper.

Refer to the Perpetual SEN sent to you in September for the changes to your insurance cover.

No existing insurance cover with Perpetual

If you do not have existing insurance cover in Perpetual MySuper, you may be eligible for automatic insurance cover. Refer to your relevant CareSuper PDS and Insurance Guide for more information about insurance. If you are under 25 or have a balance below $6,000 when you transfer, we can't provide you with insurance, unless you elect to receive it. This is due to the Federal Government's Putting Members' Interests First (PMIF) legislation that aims to ensure members only hold cover they need or want. To elect to receive standard insurance cover with CareSuper complete and return the Elect to have insurance cover form by 30 November 2020. Cover will be added to your account, backdated to 30 October 2020, and insurance fees will be calculated from that date. Otherwise, cover will commence if you make an election in the future, or when you meet the eligibility criteria and receive your first employer contribution.

Why do I need to elect to keep my insurance?

From 1 April 2020, we can only provide standard cover to eligible members if they’re age 25 or older, or have had at least $6,000 in their super account, unless they make an election to receive cover earlier. This is due to the Federal Government's Putting Members’ Interests First (PMIF) legislation that aims to ensure super members only hold cover they need or want.

How do I elect to keep my insurance?

Complete and return the Elect to have insurance cover form by 30 November 2020. Your cover will be backdated to 30 October 2020, subject to eligibility, and insurance fees will be calculated from this date.

I've already elected to keep my cover with Perpetual - doesn't that carry across?

No. By law, CareSuper cannot accept an election made with Perpetual. You must complete the CareSuper Elect to have insurance cover form.

What if I do not elect to keep my cover?

If you do not let us know you want insurance cover by 30 November 2020, cover will not be added to your CareSuper account if your balance is less than $6,000 or you’re under age 25. Standard cover with us will commence if you meet the eligibility criteria and when you receive your first on-time employer contribution.

Why is my CareSuper balance in the MyGov portal showing as ’not reported’?

CareSuper will be reporting member balances to the Australian Tax Office (ATO) on 9 November 2020 after the Perpetual MySuper Successor Fund Transfer is completed. Please check your MyGov account after 16 November 2020 to see your balance with CareSuper.

I applied for early release of super under COVID-19 after 23 October 2020. When will I receive my payment?

From 23 October 2020 to 16 November 2020 there will be a Limited Services Period where we’re unable to process applications for early release of super under COVID-19 (and other transactions – see the FAQ below for details).

Any requests for early release of super made to Perpetual after 23 October 2020, or to CareSuper from 30 October 2020 will be prioritised for payment as soon as possible. We expect to have all payments made by Friday 13 November 2020.

I applied for early release of super under COVID-19 through Perpetual. Can I make another application to CareSuper?

No. You can only make one application for early withdrawal of your super during the 2020/21 financial year. For more information about early release of super check out our FAQs or visit the ATO website.

What account transactions are limited from 23 October 2020 to 16 November 2020?

From 23 October 2020 to 16 November 2020 there will be a Limited Services Period where we will be unable to process contributions, withdrawals, investment switches and applications for early release of super under COVID-19; or make amendments to your account information. Please ensure any requests are received by Perpetual before 3pm on Friday 23 October 2020 to be actioned before the transfer.

We will process any outstanding requests following the transfer from 16 November and clear any backlog as soon as possible with the aim of completing this by Friday 20 November.

I'm a Perpetual employer. Who can I speak to at CareSuper about my employer obligations?

Please contact our Client Partnership Team

Elect to keep your insurance cover

If you are under 25 or have an account balance less than $6,000, you will lose your cover on the transfer date. Let us know before 30 November 2020 if want insurance cover with CareSuper.

Keep my insurance

WE’RE HERE TO HELP

For further information about the transfer and the impact on your account, please contact Perpetual on 1800 003 001 8:30am to 6pm (AET) Monday to Friday or alternatively email investments@perpetual.com.au.

For more information about CareSuper go to our website or call us on 1300 360 149 between 8am to 8pm AET Monday to Friday.

This website contains general advice, not taking into account your objectives, financial situation or needs. Before acting on this advice you should determine if it is appropriate for you. Before acquiring a product, first read its product disclosure statement. Some products and services offered on this website are provided by third parties. The trustee is not responsible for the products or services, views or actions of these third parties. Terms and conditions may apply which should be obtained from the third parties direct. The trustee does not accept liability if loss or damage is incurred from the acquisition of third party products or services. Past performance is not a reliable indicator of future performance and you should consider other factors before choosing a fund or changing your investments.

CARE Super Pty Ltd (Trustee) ABN 91 006 670 060 AFSL 235226 CARE Super (Fund) ABN 98 172 275 725.

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