Merger information

Important information about the upcoming merger between Spirit Super and CareSuper.

Super together with CareSuper

In June 2023, we announced that we had entered into a binding agreement to merge with CareSuper. This came after an extensive due diligence process, and we’re now on track to bring together the two funds on 1 November 2024. From this date, the fund will be called CareSuper, but you’ll still recognise our distinctive logo mark.

It’s an exciting opportunity for both funds – we share a vision to create a national, mid-sized fund that provides a distinct point of difference in the market. The merger will create a combined fund with more than 573,000 members and over $53 billion in funds under management. Our bigger size will help us to continue to drive outstanding value and service for our members.

Like us, CareSuper is a high performing, profit-to-member industry super fund. Together, we’ll keep bringing you the outstanding value and service that you’re used to.

Award-winning service

Spirit Super ranked as the best customer experience performer in the super sector.

(CSBA Sense CX benchmark 2022-23, and again recently in 2023-24).

Learn more

Top 10 performance

CareSuper Balanced option ranks amongst the top 10 funds over 10, 15 and 20 years.

(SuperRatings Fund Crediting Rate Survey, SR50 Balanced (60-76) Index, June 2024).

What's changing

All the details about what is changing from 1 November 2024 are available in the Significant event notices. These have been sent to all our members.

  • We will be called CareSuper (from 1 November)
  • Your member number and account details will not change
  • Your log in details to Member Online will stay the same
  • Our website and app will be re-branded (you may need to update your app)
  • There will be changes to your investment options
  • There will be changes to our responsible investment approach
  • There’s no change to your account balance
  • You’ll receive more information about your account after the merge
  • Services will be limited from 25 October to 21 November 2024

Significant event notices:

New benefits for members

Following our merger, several new products and services will become available for members:

2 x NEW investment options (Alternative Growth and Property)

A NEW Direct Investment Option

A NEW Sustainable Balanced investment option

A new education hub and calculators via our website

The addition of complex and comprehensive financial advice services

Non-lapsing binding nominations

We're growing and changing - come and learn how

You’ll learn what’s changing and what’s staying the same. The event will go for approximately 45 minutes, including time to answer any questions you have.

Limited service period

To ensure a safe and secure merge, a limited service period will occur from 5pm (AEST/AEDT) 25 October 2024 and normal services will resume from 21 November 2024. Refer to your Significant event notice (SEN) for more information.

If you need any help or information about your account during the time online services are unavailable, you can contact us on 1800 005 166 – we’re here to help.

Key dates: 

25 October 2024
  • Limited service period starts
  • Member Online and mobile app becomes a read-only service 
  • Account changes and transaction processing windows will apply (refer SEN for details) 

31 October 2024

No access to member online and mobile app
1 November 2024 CareSuper and Spirit Super merge 
 21 November 2024
  • Limited service period ends 
  • Member Online and mobile app becomes available
  • Transactions and investment processing restrictions lift

Supporting information

Changes to responsible investing

The merger will introduce changes to our approach to responsible investing and environmental, social and governance (ESG) considerations, including changes to exclusions

Learn more here

Changes to Total and permanent disablement (TPD) definitions

TPD claims for events that occur on or after 1 November 2024 will be assessed under a new TPD definition, depending on your age and employment status at the date of becoming disabled. Changes to the TPD definition to apply from 1 November 2024 are available here.

Investment option information

A summary of the changes to investment options including investment strategy, asset allocation and investment philosophy of each investment option is available:

Frequently Asked Questions

There’s nothing you need to do now and your account will continue without any changes. In saying this, it’s always a good idea to stay connected with your super. This might include checking your details are up to date, as well as your beneficiaries, investments and any insurance you might hold.  We’ll communicate with you if anything is to change.

CareSuper was established in 1986 and is today the super fund for life for people who value high performance and a smoother investment ride over the long term. It’s a profit-for-member super fund with around 223,000 members and $23 billion in funds under management. You can find more information at caresuper.com.au.

Your pension payments will continue as usual during and after the merger, including through the temporary interruption to our services.  Rest assured, both the amount and frequency of your payments will stay the same.

Please be aware that you will not be able to make any changes or request lump sum payments during the temporary services interruption. 

On 1 November 2024, your pension name will change to match the equivalent CareSuper income product. Don’t worry – this won’t impact your pension payments or how your account is managed. 

Current product name

 New product name from 1 November 2024  

Control Pension

 Flexible Income

Transition Pension

Transition to Retirement Income (TTR Income)  

Managed Pension

 Managed Income

Term Allocated Pension

Term Allocated Pension

Employers are being provided with separate communications detailing the merger and the impact on them and their employees. In addition, our employer relationship managers will be making contact with as many employers as possible to assist with any questions.

All members will be will be contacted following our limited service period, confirming our completion of merge along with an account snapshot. This will be sent by mail or email in early December.  

Your account snapshot will include: 

  • your account balance
  • an investment summary (showing where your super is invested)
  • details of any nominated beneficiaries
  • details of any insurance you might hold with us 
     
    To ensure you receive your Welcome Pack, check or update your contact details in Member Online or call 1800 005 166. 

Yes absolutely, the safety and security of our members’ retirement savings is our priority. We’re in a very healthy position and we want to leverage our existing strengths to continue improving our products and services.

Our members are our priority, and while we understand for Spirit Super members this may seem like another change, we’re confident that this merger will provide direct benefits to all our members – better service, products and value in super.

We believe it’s in the interest of all members for there to be a diverse choice of super funds available to suit the needs of all Australians. Our vision is to create a national, mid-sized fund that is competitive and provides a distinct point of difference in the market.

Our aim is to be in a sustainable position to provide our members with outstanding value at the same time as providing them with excellent, personalised service. It’s not a decision that we’ve taken lightly, and while it’s not possible to predict what may happen in the future, our focus at this time is on this merger as we believe it’s truly in our members’ best interests long term.

What happens between now and 1 November?

Nothing will change on your account or in the way we manage your account right now. As an industry fund, our commitment will always be to look after our members as a priority. All members will receive individually addressed written notification of the merge with the issuing of a Significant event notice (SEN) as we approach the merger date.

No. There are no changes to our fund right now, the way we operate or the way we manage your investments.

Right now it’s business as usual. We’ll continue to provide you with high quality products and service. We’ll keep our members and stakeholders informed of any material decisions and a Significant event notice (SEN) will be issued to all members as we approach the merger date.

Members can also contact us by phoning 1800 005 166 or get in touch online.

While it’s natural for people to feel unsettled by the changes that will come with the merger, both funds are committed to retaining the valuable skills and experience across our joint teams.

Limited service period?

During the temporary services interruption, normal withdrawals will not be available due to the administration work being conducted to bring the two funds together.

If you require money urgently, please call our Contact Centre on 1800 005 166 to discuss what options are available.

Your member and account numbers will stay the same, and your log in details for Member Online and the app will remain unchanged after the merger.

The existing Spirit Super app will be rebranded as CareSuper. Your password and PIN will remain the same. You may be required to perform an update to the app on your phone or tablet.

During the limited services period no commencements or changes will be available for products. If you wish to commence a new product it must be completed by 25 October 2024.

Our Contact Centre and member services teams will continue to operate during the merge period and beyond. If you need any help or information during the time online services are unavailable, you can contact us on 1800 005 166 – we’re here to help.

Insurance

Yes.  Any new claims will be received and assessed as normal.

Your existing beneficiary nominations will stay in place and you will continue to have the option to nominate your beneficiaries. 

Non-binding nominations are not legally binding. While your wishes are considered, it’s ultimately up to the trustee to decide who gets your death benefit and how much. Non-binding nominations never expire. 

If you have a binding nomination, it will retain its current expiry date and require you to renew it every three years.  However, you will now have an additional option:  a non-lapsing nomination, which won’t expire unless you cancel or update it.  

Investment changes

Your Spirit Super investments, including the units you currently hold, will remain in place until 1 November when you’ll be issued with units based on the CareSuper unit prices. The dollar amount you have invested in each option will not change.

From 1 November 2024, you will have 11 investment options to choose from.  The MySuper default option will continue to be the Balanced option.
   
On 1 November 2024, the balance of your Spirit Super investment option(s) will automatically transfer to equivalent CareSuper investment option(s). 
Your super balance will not change, but the number of units you hold for each option will. You will be issued units based on the CareSuper unit prices effective 1 November 2024.
  
We will also offer new Direct Investment Option (DIO). This option lets you tailor your portfolio by combining your choice of a range of shares, ETFs, listed investment companies and term deposits with other CareSuper options. 
Please note: DIO is not available on transition to retirement (TTR) accounts. 


Here is a full list of the investment options that will be available 1 November 2024 for superannuation members. The Long-term option, will also continue for members of our Managed Pension.

You can check your account balance and investment details in Member Online after the temporary interruption to services ends on 21 November 2024.   
For details on the asset mix for each investment option from 1 November 2024, please refer to these tables.
Further details about investment options — including asset allocation, risk rating, and investment objectives — will be on our website and in our Product Disclaimer Statement (PDS) and Investment guide from 1 November 2024. 

General questions

Absolutely not. This is an important step in our fund’s journey. We are very proud of our Tasmanian history and the strategic growth of the fund is a great achievement for Tasmania.  We are a successful, award-winning national super fund with a large proportion of our workforce in Tasmania. It’s also expected that Tasmanians will make up more than 20% of the membership of the merged fund. Our award-winning customer service model, developed in Tasmania, is being expanded nationally and Hobart will remain the primary operational hub for the fund’s operations.

Our growth means we can continue to attract and retain the people, skills and jobs Tasmania needs in this sector at the same time as providing greater strength and certainty for our members, many of whom are Tasmanians. 

Both funds are high performing, member-focused, industry super funds.  A combined fund will offer all members outstanding value and service.  We’ll continue to be out there servicing Tasmanian members and businesses every day. 

We’ve been the super fund for the motor trades for over 30 years, and this won’t change. In fact, our motor trades employers are some of the largest we service.  The motor trade industry is an important part of our heritage and our future, and our growth means better outcomes for our members in this industry.  In fact, our employer and super adviser teams will grow so that we can continue to deliver exceptional, personalised service to these valued partners right across the industry nationally.

Our Board of Directors is responsible for the governance and strategic direction of your super fund. From 1 November 2024, the directors of CareSuper will be:


 Name  Position  Former fund
Linda Scott Chair - Member Representative Director  CareSuper

Andrew Dettmer

Member Representative Director

Spirit Super

Anthony (Tony) Cavanagh

Member Representative Director

CareSuper

Geoffrey (Geoff) Lowe

Employer Representative Director

Spirit Super

Jeremy Johnson

Employer Representative Director

CareSuper

Jessica Munday

Member Representative Director

Spirit Super

John Mazengarb

Employer Representative Director

Spirit Super

Maria Wilton

Independent Director

Spirit Super

Michael Drew

Employer Representative Director

CareSuper

Nola Watson

Employer Representative Director

CareSuper

Peter Savige

Employer Representative Director

Spirit Super

Rebecca Girard

Member Representative Director

CareSuper

Thomas (Tom) Lynch

Member Representative Director

Spirit Super

 

Our Executive Team is responsible for implementing our strategic vision to provide members the best value and service possible. From 1 November 2024, the designated leadership team for CareSuper will be: 

  • Jason Murray, Chief Executive Officer
  • Will Sadler, Chief Risk Officer 
  • Sam Horskins, Chief Financial Officer 
  • Ningning Lyons, Chief Strategy Officer 
  • Suzanne Branton, Chief Investment Officer 
  • Kathleen Crawford, Chief Operating Officer 
  • Robyn Judd, Chief People Officer 
  • Jean-Luc Ambrosi, Chief Member Officer 
  • Simon Reiter, Chief Technology Officer 

There will be minimal impact to you as a result of the merger. Your member number and account details will not change and there will be no change to your entitlements or the way your benefit is calculated.

At Spirit Super, your interests are represented by our elected Board. The Board is responsible for the overall governance and strategic direction of Spirit Super. While members don’t vote directly on mergers, our Board is committed and legally obliged to ensure that any major decisions, like mergers, are made with your best interests in mind. Meet our current Board.

Introducing Spirit Super

On 1 April 2021, MTAA Super and Tasplan merged to become Spirit Super.

As a Spirit Super member, you get low fees, excellent service and all the info you need when you need it. We aim to deliver strong investment returns to help grow your super faster. We’re a profit-to-member industry fund for all Australians, and we’re here to make your super work as hard you do.

Read more about who we are and what we stand for.

You’re in control of your insurance

At Spirit Super, you control your insurance. You can reduce, cancel or apply to increase your cover at any time, even during the limited services period.

Find out how to make changes to your cover.

Your insurance choice carries over

If you made an election with MTAA Super or Tasplan to keep your insurance cover even if your super account becomes inactive, this election is still valid at Spirit Super. You don’t need to make this election again.

Please note: Even if you’ve chosen to maintain cover, you can reduce, cancel or apply to increase your cover at any time, including during the Limited Services Period. Find out your options for making changes to your cover.

Your Spirit Super welcome pack will help you get started

Your Spirit Super welcome pack is coming in mid May by email or post. It will have everything you need to get started with your new Spirit Super account, including:

  • an account summary
  • your new member number
  • confirmation of your insurance cover amount and costs (if any)
  • BPAY details so you can make personal contributions
  • your Member Online login details

Important information about what’s changed

Spirit Super is a bit different! Read the documents in this section to find out how your account may have changed when it moved over from MTAA Super or Tasplan.

For former MTAA Super members

For former Tasplan members

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