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 moreTop 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:
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 |
|
---|---|
31 October 2024 |
No access to member online and mobile app |
1 November 2024 | CareSuper and Spirit Super merge |
21 November 2024 |
|
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 hereChanges 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.
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 |
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.
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?
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.
Limited service period?
Insurance
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
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.
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
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
- MTAA Super Significant Event Notice
- MTAA Super Insurance Changes Fact Sheet
- MTAA Super Investment Changes Fact Sheet
- MTAA Super Pension Significant Event Notice
- MTAA Super Pension Investment Changes Fact Sheet
- Investment returns as at 31 March 2021