Member Guide

 Product Disclosure Statement

making
super easy

Giaan Rooney
CareSuper Ambassador

This Product Disclosure Statement (PDS) is dated 30 September 2017

This PDS is a summary of significant information and contains a number of references to important
information. Each of these references is marked with a and forms part of this PDS. You can
download this information from caresuper.com.au/PDS or request a copy by calling the CareSuperLine
on 1300 360 149. You should consider the information before making a decision about CareSuper.
The information provided in the PDS is general advice only and does not take into account your
personal financial situation or needs. You should obtain financial advice tailored to your circumstances.
 contents
About CareSuper 2
How super works 3
Benefits of investing with CareSuper 4
Risks of super 6
How we invest your money 7
Fees and costs 9
How super is taxed 11
Insurance in your super 12
How to open an account 15
Other information 15

1 About CareSuper including a MySuper product dashboard.

Other important Fund information, including
CARE Super ABN 98 172 275 725 Trustee and executive remuneration, information
(CareSuper or the Fund) is an industry about other investment options and additional
super fund established in 1986 to provide documents prescribed by superannuation
you with a way to save for a financially law, is accessible (as and when required) at
secure retirement. As the largest industry caresuper.com.au/aboutus.
super fund for people in professional, CARE Super Pty Ltd ABN 91 006 670 060,
managerial, administrative and service AFSL 235226 is the Trustee of CARE Super and
occupations, CareSuper is run to profit engages a team of dedicated staff to look after
members. That means more money for the everyday running of the Fund, including
your retirement. Currently, CareSuper has: investments, corporate governance, marketing
• Over $13 billion in funds under and communications, administration and
management business development.
• Over 247,000 members Australia‑wide This Product Disclosure Statement (PDS) is
• Over 66,000 employers making for people joining CareSuper, either:
contributions to our Fund. • Through their employer (referred to as
As a MySuper authorised product provider Employee Plan members), or
(Authorisation No. 98172275725867), • As individuals or self-employed members
CareSuper can accept default super (referred to as Personal Plan members).
contributions in relation to employees who
have not chosen a super product. If you are This PDS is also for employers who wish
invested in the Balanced investment option, to nominate their employees as Employee
you will be part of the MySuper product. Plan members.

CareSuper also offers 12 other investment This PDS is not for members joining
options including Managed options, Asset CareSuper under a Corporate insurance
Class options and a Direct Investment option. arrangement organised by their employer.
Refer to the Corporate insurance (CIA)
Further MySuper information can be
PDS available at caresuper.com.au.
found at caresuper.com.au/mysuper,

CareSuper registered office: Level 18, 31 Queen Street, Melbourne VIC 3000

2 | caresuper.com.au
2 How super works
Superannuation (super) is a compulsory you and check if you will be charged any exit or
form of investment to help you save for other fees. You should also check the impact
your retirement. Your employer usually on any insurance arrangements (such as loss
makes compulsory super guarantee (SG) of insurance) or other benefits you may have
contributions to your super account and you in your other super fund. Special rules apply
can make voluntary contributions to your super to combining super from an overseas super
to help it grow faster. The Government also account. Contact us for general information or
offers incentives for low income earners to to seek personal advice.
contribute to super, making it an even more
effective tool for funding retirement. Boosting your super
Super is one of the most tax-effective ways to You can make different types of contributions
fund your retirement. You can find out more to your super, in addition to any SG
about super and tax under How super is taxed contributions paid by your employer, including:
on page 11. • Salary sacrifice contributions from your
pre-tax salary (if your employer agrees).
Choice of fund Pre-tax contributions are treated as
Many Australian employees are eligible to employer contributions.
choose the super fund to which their SG • Personal after-tax contributions. If you
contributions are paid. If you don’t make a make after-tax contributions and meet the
choice, your SG contributions will go into your eligibility criteria, you may be eligible for a
employer’s default super fund, which (like Government co-contribution of up to $500.
CareSuper) must offer a MySuper product. Find out about your eligibility at ato.gov.au.
To have your super contributions paid into
• Personal deductible contributions.
a fund other than your employer’s default
You also have the option of claiming a tax
super fund, complete a Standard choice form
deduction on your personal contributions. This
available on request from your employer, or
may suit the self employed or those needing
the Choice of fund form available from
a salary sacrifice alternative. Contributions
caresuper.com.au/forms. If you are eligible
are taxed at 15% in the fund and treated as
to choose a fund, your employer must usually
concessional contributions.
accept at least one choice nomination from you
each year. If your employer tries to discourage • Contributions made for you by your
or deny your choice of fund, call the Australian spouse, which may give your spouse a tax
Taxation Office (ATO) on 13 10 20. rebate.

Consolidating your super There are limits to the amount of pre-tax

(concessional) and after-tax (non-concessional)
Consolidating several super accounts into one
contributions you can make without incurring
account is a great way to simplify your super.
additional tax (refer to the Tax section for
When you have multiple accounts you pay
more details). These limits are known as
multiple sets of fees, which can erode your
‘contribution caps’. Make sure you consider
super investment.
the relevant caps as part of your contribution
Before combining your super into CareSuper strategy. Information about caps is also
you should consider whether this is right for available at ato.gov.au.

CareSuperLine 1300 360 149 | 3

Accessing your super In certain circumstances super money may be
As super is designed to support retirement, transferred to an eligible rollover fund (ERF) or
access to super (in the form of a lump sum or must be paid to the ATO. Different fees, costs
pension) is restricted. and investments will apply in the ERF.
You can generally access your super money You can also rollover or transfer your benefit to
if you satisfy a specific requirement, including: another fund.
• Retirement on or after your preservation age
• Reaching age 65, and You should read the important

information about accessing your
in other circumstances allowed by the super money before making a
Government. decision. Go to caresuper.com.au/
Conditions for accessing super money are PDS and read Accessing your super.
different for temporary residents. The material relating to accessing your
Additional restrictions may also apply depending money may change between the time
on the investments you choose. These restrictions when you read this PDS and the day
apply to cash withdrawals and transfers/rollovers you acquire this product.
to another super product or fund.

3 Benefits of investing with CareSuper

When you join CareSuper, we will set up an Take a look at some of the benefits of investing
account for you. Your super contributions and with CareSuper:
any positive investment returns will increase • Profits for members, not shareholders or
your account balance. Tax, fees and other costs financial planners.
(including insurance fees) and any negative
• Competitive fees. Because we don’t
investment returns will decrease your account
have to provide a profit for shareholders,
balance.
the fees we charge relate to the costs
CareSuper offers a range of products, including: of administering and managing the
Fund’s operations and do not provide
1 The Employee Plan for members whose
benefits to shareholders.
employers pay their SG contributions
• Long-term investment returns.
2 The Personal Plan for members who CareSuper’s Balanced option has regularly
are self-employed or make their own
been one of Australia’s top performing
contributions into a CareSuper account
investment options over the 10 years up
3 A range of options for members who wish to 30 June 2017.1
to draw an income from their super once 1
Past performance is not a reliable indicator
they have reached retirement age. This of future performance and you should
includes the CareSuper Pension and consider other factors before choosing a
Transition to Retirement Pension, and a fund or changing your investments. Source:
Guaranteed Income product. SuperRatings Fund Crediting Rate Survey
– SR50 Balanced (60–76) Index, June 2017.
For information about our retirement options,
This description of long-term returns is based
visit caresuper.com.au/retirement or call the on returns of the Balanced option’s pool of
CareSuper PensionLine on 1300 664 781. assets net of investment related fees and
taxes but not other fees, costs and taxes.
4 | caresuper.com.au
• 13 investment options to cater for a range • Boost your spouse’s super savings with
of investment needs and risk profiles. some of your own. There are two ways to
As a CareSuper member you can choose do this:
how your super is invested based on your
investment needs, goals and attitude to risk.
1 Add to your spouse’s super with
concessional before-tax contributions
For all investment options, other than (known as contribution splitting) – this
the Direct Investment option, returns are could help you take advantage of lower
passed on to members through unit prices. tax thresholds when you eventually
All transactions resulting in additions to or draw on your super.
deductions from your account are managed
through the purchase and sale of units.
2 Make non-concessional after-tax
contributions directly into your spouse’s
Further investment information is available
account. If your spouse earns less than
in Section 5.
$40,000, you could receive a tax rebate.
• Cost-effective insurance. We offer Find out more at caresuper.com.au or
members access to competitively priced ato.gov.au.
insurance cover.
2
Financial advice is offered through
• Quality financial advice. Our members CareSuper’s relationship with Industry Fund
can receive financial advice over the phone Services Limited (IFS) and is provided by an
on a range of super-related topics within authorisation under the Australian financial
CareSuper at no extra charge. This service services licence of IFS, ABN 54 007 016 195,
is provided through Industry Fund Services AFSL 232514.
Limited.2  For more information on the types
of advice available, the range of topics
provided and how to get in touch, visit
caresuper.com.au.
• Nominate beneficiaries for your peace How we communicate
of mind. You may nominate one or more with you
dependants and/or your legal personal
representative to receive your benefit Information relating to your account
when you die. You can choose the type or CareSuper will be provided or made
of nomination that best suits your needs available to you by electronic means where
from either a non-binding nomination or a possible, unless you request otherwise.
binding nomination. The electronic means we use is our website
and any digital facilities available through
the website, including MemberOnline.
The information we provide in this way may
You should read the important
include documents, notices or statements
information about nominating
we are required to give you under
beneficiaries before making a decision.
superannuation law, such as significant
Go to caresuper.com.au/PDS and
event notifications and annual statements.
read Nominating your beneficiaries.
The material relating to nominating We will let you know when there is
beneficiaries may change between information about CareSuper or your
the time when you read this PDS and account ready for you on or through our
the day you acquire this product. secure website.

CareSuperLine 1300 360 149 | 5

 different investment options carry different
levels of risk
4 Risks of super
All investments carry risk, including your super. • Interest rate changes affecting prices and
Different investment options carry different the demand for certain investments
levels of risk depending on the assets that • Currency risks when invested in other
make up the investment option. countries, and
Assets with the highest long-term returns may • The failure of a specific asset, such as a
also have the highest degree of short-term company becoming bankrupt.
risk. Risk can mean either a fall in the value
of your investment, particularly over shorter If a financial loss occurs because returns
periods, or your investment not meeting your are not guaranteed, there is a risk that you
objectives over your desired timeframe. may lose money, which could impact your
retirement plans.
Different investments also have varying levels
of volatility. Volatility is the extent to which an Understanding your level of risk
investment increases or decreases in value The level of risk you’re prepared to take will be
over a short period of time. The value of unique to your circumstances and depends on
investments and investment returns will vary several factors, including:
from time to time. Future returns may differ
from past returns. • Your age

Some of the risks you should consider are: • Your investment timeframe

Inflation – the change in the cost of living over • Your objectives

time and whether your investments can keep • What other types of investments
up with this change you have outside your super, and
Liquidity – the ability to turn an investment • Your risk tolerance.
into cash with little or no loss of capital and
minimal delay
Financial loss – assets can vary in or lose You should read the important

value, leaving you with less than you originally information about the risks of super
invested. This can happen through: before making a decision. Go to
• Changes to the economy, market
caresuper.com.au/PDS and read the
environment, technology, laws, political or information about risk in the Investment
legal conditions Guide. The material relating to the risks
of super may change between the time
• Changes to growth forecasts for when you read this PDS and the day
economies or companies you acquire this product.
• Changes to investor confidence

6 | caresuper.com.au
 5 How we invest your money
When it comes to investing, CareSuper gives you lots of flexibility.

Before making an investment choice, you You should also note that the standard rollover
should consider the potential investment timeframes do not apply to investments in the
return, level of risk and investment timeframe Direct Investment option.
associated with that investment option(s). CareSuper members can access financial
advice about super-related topics and
CareSuper offers 13 investment options, each investment options within CareSuper over
with a varying degree of risk and expected the phone, at no extra cost. This excludes
return. You can choose one option from the investment choices available via the Direct
list below or mix the options to create the Investment option. Refer to page 5 for more
balance that’s right for you. If you don’t want details about financial advice.
to make an investment choice, your super
will automatically be invested in CareSuper’s Switching investment options
MySuper option – the Balanced option. Changing the way your super is invested is called
‘switching’. You can usually switch investments
• Capital Guaranteed as often as weekly. Switches can be made for:
• Capital Stable • Your existing account balance, and/or
• Conservative Balanced • Your future contributions and rollovers.
• Balanced (MySuper) Buy–sell spreads (refer to the Fees and costs
• Sustainable Balanced section for details) may apply to switches.
• Alternative Growth Written switch requests received before
• Growth 5pm Friday (AEST) and online switch
• Capital Secure requests received before midnight Friday
• Fixed Interest (AEST) will usually be processed on the
• Direct Property following Wednesday. Different processing
• Australian Shares arrangements and timeframes may apply to
• Overseas Shares investment transactions made within the Direct
• Direct Investment option Investment option.
You can make an investment switch by
CareSuper’s Direct Investment option allows logging into our secure MemberOnline service
eligible members to invest a proportion of their at caresuper.com.au or by completing an
super directly, into their choice of: Investment choice form available from
• The securities that form part of the S&P/ASX
caresuper.com.au/forms.
300 Index
You should read the important
• A range of exchange-traded funds
information about investments
• A range of listed investment companies,
(including investment switches,
and unit pricing and the allocation of
• A range of term deposits. returns) before making a decision.
With a wide variety of available investments, Go to caresuper.com.au/PDS and
sophisticated online access and up-to-date read the Investment Guide. This
market information, the Direct Investment material may change between the
option provides the flexibility to become more time when you read this PDS and
actively involved in managing your super. the day you acquire this product.

CareSuperLine 1300 360 149 | 7

 Investment details for CareSuper’s Balanced option:

Balanced (MySuper) option

Most suitable for Members seeking returns above the rate of inflation over the long term.
This option has relatively high levels of investment in shares, property
and alternatives.

Overview This option aims to achieve relatively high returns in the medium to long
term, subject to short-term variations in returns within acceptable limits.
It invests in a diversified mixture of assets with emphasis on Australian
and overseas shares and alternatives.

Objectives • To achieve returns after tax and fees that exceed the inflation rate (as
measured by the CPI) by at least 3% per year over rolling 10-year
periods.
• To ensure as far as possible that the investment return members
receive each year is competitive with comparable options in other
super funds.
• To see the return target, go to caresuper.com.au/mysuper.

Asset classes Benchmark % Range %

Australian shares 21 10–40
Overseas shares 26 10–40
Property 12 0–25
 Alternatives* 30 0–55
Fixed interest 6 5–35
Cash 5 0–30

Likelihood of a 3.1 in every 20 years

negative annual returnˆ

Risk levelˆ Medium to high

Risk band
1 2 3 4 5 6 7

Risk label very

low low low to
medium medium medium
to high high very high

Minimum suggested Long term (5+ years)

timeframe

CareSuper may change its MySuper or other investment options from time to time. We may close,
remove or add new investment options. We may change the investment strategy of an investment
option. This may occur without prior notification to you or your consent.
* ‘Alternatives’ is a broad term used to describe a range of different investments. You can find
out more about this asset class in the Investment Guide.
ˆ Refer to the Investment Guide at caresuper.com.au for information about these risk measures.

8 | caresuper.com.au
6 Fees and costs
Consumer advisory warning justify higher fees and costs. You or your
DID YOU KNOW? employer, as applicable, may be able to
negotiate to pay lower fees*.  Ask your
Small differences in both investment
Fund or your financial adviser.
performance and fees and costs can have a
substantial impact on your long term returns. TO FIND OUT MORE
For example, total annual fees and costs of If you would like to find out more, or see
2% of your account balance rather than 1% the impact of the fees based on your own
could reduce your final return by up to 20% circumstances, the Australian Securities
over a 30 year period (for example reduce it and Investments Commission (ASIC)
from $100,000 to $80,000). website (www.moneysmart.gov.au) has a
You should consider whether features such superannuation fee calculator to help you
as superior investment performance or check out different fee options.
the provision of better member services * CareSuper’s fees are not negotiable.

Fees and costs can be deducted from your money, from the returns on your investment, or from
CareSuper’s assets as a whole. You can use the table below to compare costs between different
superannuation products.
CareSuper Balanced (MySuper) option
Type of fee Amount How and when paid
Investment fee1 0.16% of the option’s Not deducted from your account. Deducted from
assets per year the Fund’s assets and reflected in weekly unit prices.
Administration fee $1.50 per week Calculated weekly or on full withdrawal. Deducted
plus from your account monthly or on full withdrawal.
0.19%2 of your account Calculated and deducted from your account
balance per year (a cap monthly or on full withdrawal.
of $500 per year applies)
Buy–sell spread3 0.05% Not deducted from your account.
Reflected in the weekly unit prices.
If you invest in or money is taken out of the
investment option, you will incur the spread
shown here.
Switching fee $0 Not applicable, however a buy–sell spread
or activity fee may apply depending on the
investment chosen.
Exit fee $40 Applies to all partial and full withdrawals out of the
Fund, but not transfers from one CareSuper account
to another (such as a CareSuper pension account).
This fee or withdrawal amount is deducted from
your account at the time of withdrawal.
Advice fees $0 Not applicable, however advice fees are included
relating to all in the administration fee. If you consult an adviser,
members investing additional advice fees may be paid to them for
in a particular complex personal advice. Refer to the adviser’s
MySuper product or Statement of Advice for details.
investment option
Other fees and Various Deducted from your account where applicable.
costs4

CareSuperLine 1300 360 149 | 9

Type of fee Amount How and when paid
Indirect cost ratio 5
0.84% Not deducted from your account. Deducted from
investment returns received from, or assets of, underlying
investment vehicles and reflected in the weekly unit prices.
1 The investment fee is an estimate only based on investment costs for the 2016/17 financial year.
2 This fee is an estimate only and is based on administration costs for the 2016/17 financial year.
3 CareSuper will review buy–sell spreads at least once every two years, and we reserve the right
to change buy–sell spreads in the future.
4 Other fees and costs, such as activity fees, advice fees for personal advice or insurance fees, may
apply. Refer to Fees and other costs available at caresuper.com.au/PDS for further information.
5 The indirect cost ratio (referred to as the ICR) is an estimate only and is based on estimated
indirect costs for the 2016/17 financial year.
Example of annual fees and costs*
This table gives an example of how the fees and costs for CareSuper’s MySuper product in this
superannuation product can affect your super investment over a one-year period. You should use this table
to compare this product with other super products. Be careful to make comparisons on the same basis.
EXAMPLE – CareSuper’s
MySuper product BALANCE OF $50,000
Investment fees 0.16% For every $50,000 you have in the superannuation product
you will be charged $80 each year
PLUS Administration And, you will be charged $95 in administration fees
fees 0.19% + $78** each year (based on a percentage of assets), plus $78 in
($1.50 per week) administration fees regardless of your account balance
PLUS Indirect costs 0.84% And, indirect costs of $420 each year will be deducted
for the superannuation from your investment
product
EQUALS If your balance was $50,000, then for that year you will be
Cost of product charged fees of $673* for the superannuation product.
*  Additional fees may apply. And, if you leave the superannuation entity, you may also be charged
an exit fee of $40 and a sell spread of 0.05%. This sell spread will equal $25 for every $50,000
you withdraw. A sell spread may apply when money is withdrawn from your account or you make
an investment switch. A buy spread may apply when you make a contribution, transfer money into
your account or make an investment switch.
** This fee is calculated based on a 52 week year ($1.50 per week x 52 = $78)
Additional fees may be payable if you consult a financial adviser and these will be detailed in the
adviser’s Statement of Advice, which you should refer to.
Alterations to fees
The Trustee has the power to change the amount of
fees at its discretion without your consent. You will You should read the important

be advised of any material increase to charges at information about fees and costs,
least 30 days before they are implemented where including definitions of key fees and
required by law. Estimated fees and costs may costs, before making a decision. Go to
vary from year to year depending on the expenses caresuper.com.au/PDS and read Fees
or costs incurred by the Fund or in relation to its and other costs. The material relating
underlying investments from year to year. If you to fees and costs may change between
require general information about CareSuper’s fees, the time when you read this PDS and
call the CareSuperLine on 1300 360 149. the day you acquire this product.

10 | caresuper.com.au
7 How super is taxed
This is a summary only of key tax rules personally. The rules are complex. For more
specifically relevant to superannuation and information or for an explanation of whether
assumes we hold your tax file number. Tax a contribution is classed as concessional or
rules are complex and change frequently. In non-concessional go to ato.gov.au.
some circumstances other tax rules may be
Tax on investment earnings
relevant. Further information is available at
ato.gov.au. Investment earnings are taxed at up to 15%
and special tax rules apply to earnings
Tax on contributions from investments via the Direct Investment
All employer contributions to CareSuper, option. For information about this
including amounts that have been salary refer to the Investment Guide available
sacrificed, and any personal (member) at caresuper.com.au/PDS.
contributions for which a tax deduction
Tax on withdrawals
is claimed, are known as concessional
contributions. These contributions are If you are 60 or over, you will receive your
usually subject to a 15% tax which is benefit on withdrawal tax free.
deducted from your account monthly (where If you are under 60, tax may be applied on
contributions are made monthly). Those your withdrawal benefit depending on your
earning over $250,000 p.a. may be required to age, the amount and composition of your
pay contributions tax of 30% while low income benefit (in particular whether it contains a
earners may receive a rebate of the 15% tax on taxable component), the type of benefit and
concessional contributions. what you do with it.
Personal contributions that are not claimed Death benefits paid to dependants and
as a tax deduction, and spouse contributions, eligible terminal illness benefits are usually
are not usually taxed. These are known as tax free. Different tax rules apply in some
non-concessional contributions. circumstances, for example, withdrawals
If you roll over funds into CareSuper that have by former temporary residents or amounts
an untaxed post-June 1983 component, 15% sourced from or paid to an overseas super
tax is payable on this untaxed component. fund. Insured disablement benefits may be
subject to tax.
Contribution caps
Tax file number (TFN)
There are significant tax consequences if
your contributions exceed contribution caps. You should provide your TFN to us as part
of acquiring this product. CareSuper is
The current pre-tax (concessional) authorised by law to collect your TFN. You
contributions cap is $25,000 and the after-tax may provide it when you join or by
(non-concessional) contributions cap is completing the TFN notification form
$100,000. If you exceed these caps, you will available from caresuper.com.au or by
pay extra tax. calling 1300 360 149. You are not obliged to
In some circumstances the extra tax can disclose your TFN, but there may be tax or
be taken out of the Fund. You may be able other consequences if you don’t.
to obtain a refund of excess contributions,
however, extra tax may still be payable by you

CareSuperLine 1300 360 149 | 11

 8 Insurance in your super
This is a summary of CareSuper’s insurance terms and conditions. Detailed information about
eligibility for cover, cancelling or changing cover, the level and type of cover, insurance costs,
when cover starts and ends, exclusions, restrictions and other important terms and conditions
that may affect your entitlement to insurance is outlined in the Insurance Guide. You should
read the Insurance Guide before deciding whether this insurance is appropriate for you.

A benefit of the Employee Plan is that eligible your super account, so you won’t feel the impact
members receive default insurance cover on on your take-home pay.
joining – see CareSuper’s default insurance cover If you have default cover and would like extra
for Employee Plan members below. Provided you cover, or if you join the CareSuper Personal Plan,
meet the relevant terms and conditions, you may you can apply for voluntary insurance cover.
be eligible for default cover without the need to You may also be able to transfer insurance cover
provide medical evidence. Insurance fees (which from another super fund if you are under age 60
we refer to as insurance premiums) are paid from and meet other eligibility conditions.
CareSuper offers three types of insurance cover:
Death, total & permanent disablement (TPD) and income protection

1 Death cover provides a lump sum payment to your dependants or legal personal
representative if you die. This can help ensure the ongoing wellbeing of family members,
even if you are no longer around to provide for them. Early release of the death benefit
may also be available if you are terminally ill. Eligibility conditions apply.

2 TPD cover provides a lump sum benefit if you are never able to work again due to illness
or injury (specific definitions apply). This payment can be used to cover medical bills,
rehabilitation expenses or medically required home modifications, and to help ensure the
overall security of your family. Eligibility conditions apply.

3 Income protection cover provides a temporary replacement income if you are unable to
work due to illness or injury (specific conditions apply). This means you can continue to
pay your bills while taking the time to recover and rehabilitate. On an ongoing basis you
must be earning at least $16,000 p.a. or working 15 hours or more per week to be eligible
for income protection cover. You will need to apply for income protection cover. Eligibility
conditions apply.

Important: If you have previously been paid a TPD payment of any type as a result of a TPD claim,
you will only be eligible for death cover with CareSuper, not TPD or income protection cover.
If you have previously been paid a terminal illness benefit or have been diagnosed with an illness
that reduces your life expectancy to less than 12 months, you will not be eligible for any insurance
cover with CareSuper.
If you aren’t eligible for cover as a result of a TPD payment, or terminal illness benefit or diagnosis,
you will need to notify us or cancel your cover. Otherwise, premiums will continue to be deducted
from your account despite the fact you do not have cover.

CareSuper’s default insurance cover for Employee Plan members

Age Type of cover Cost per week
15–29 1 unit of death / 4 units of TPD $5.14
30–64 4 units of death / 4 units of TPD $8.20
65–69 4 units of death $4.08
Important note: You can cancel default cover (see page 14 to find out how) but if you don’t the
cost of cover will automatically be deducted from your account.

12 | caresuper.com.au
 it pays to review your insurance from
time to time...
How it works and roles. Read the Insurance Guide
at caresuper.com.au/PDS for more
• Default cover is provided in ‘units’ of death
information.
and TPD cover (or death only cover if you
are aged 65 to 69). The amount of cover If you’re a member of CareSuper’s Personal
you receive per unit depends on your age. Plan, insurance cover is not automatically
The default cover you receive, if eligible, is provided to you. You can find out about your
based on the amount of cover per unit for insurance options in the Insurance Guide
a person whose job is under the General and apply for cover using the Insurance
occupational category. With unit-based application form.
cover, the same premium per unit applies
each year, but your level of cover decreases When does my cover commence?
on each birthday after age 30.
Provided you are eligible, default cover
• The level of cover provided in the General
commences on the later of:
occupational category for each unit of death
and TPD (or death only) cover depends • The first day of the period for which the first
on your age and ranges from $100,280 for SG contribution is paid by your employer
a member aged 15 to 32, to $8340 for a (usually the date you commence work
member aged 65 to 69. with your employer), or
• The premium for 1 unit of death cover is • The date your employer becomes a
$1.02 per week. The premium for 1 unit of participating employer of CareSuper. In
TPD cover is $1.03 per week. The premium some instances, this will be the date on
for 1 unit of death and TPD cover is $2.05 which CareSuper receives the first SG
per week. employer contribution on your behalf, or
• If you are an eligible new Employee Plan • The date 130 days before we receive your
member, you can increase cover up to 7 x first SG employer contribution.
annual salary to a maximum of $750,000 Any other insurance cover, which is only
and/or add income protection cover before available by making an application on the
age 60 and within 90 days of the date of relevant form, will commence on the date we
your Welcome letter or email. You will need advise you in writing.
to answer a few health questions.
• You can choose fixed cover, where you
Are there any exclusions or restrictions?
set your cover at a fixed dollar amount. A full list of definitions, restrictions and
With fixed cover, the amount you pay will exclusions is provided in the Insurance Guide.
generally increase with each birthday, but These exclusions and restrictions include:
the amount of cover will remain the same or • If you have two or more accounts with
can be indexed by 5% each year. Read the CareSuper, you will not be entitled to
Insurance Guide at caresuper.com.au/PDS insurance cover from more than one
for details of premium rates for fixed cover. account. In the event of a claim, the insured
• CareSuper has three different occupational benefit of the oldest account is normally
categories, providing different levels of used. However, if the insured benefit of a
cover according to the type of work you do. newer account has been underwritten to a
This is to reflect the different levels of risk higher level, the insured benefit of the newer
associated with our members’ occupations account will be used.

CareSuperLine 1300 360 149 | 13

• The insurer will not pay a benefit caused Can I change my cover later?
directly or indirectly by an act of war. Yes. You can apply to increase, reduce or cancel
• ‘Limited cover’ will apply in a range of the amount of cover you have at any time.
circumstances, including if you are not To increase your insurance cover, you will
in ‘active employment’ for all of the first need to apply and be approved by the insurer.
30 days after your cover commenced and/or Your occupational category will be reviewed
employer contributions are not received by each time you complete a new application
CareSuper within 120 days of you first being or apply to vary your insurance cover. You
eligible to join CareSuper. may be required to provide further evidence
If you apply for death, TPD or Income of health, and once assessed, applications
Protection insurance, during the assessment may be subject to premium loadings and/or
period you will only be insured for Interim exclusions.
Accident cover. See the Insurance Guide for To apply for a variation or increase in insurance
the definition of Interim Accident cover. cover, complete the Insurance application
form available at caresuper.com.au/forms
Active employment or log in to MemberOnline and go to the
‘Active employment’ means that you are Insurance section.
employed to carry out identifiable duties, If you would like to:
are actually performing those duties and, in
the insurer’s opinion, are not restricted by • Reduce your level of cover
sickness or injury from carrying out those • Remove either the TPD or death
duties on a full-time basis (where full-time components, or
means 35 hours per week), or the duties of
• Opt out of insurance altogether
your usual occupation on a full-time basis
(even if not then working on a full-time basis). call the CareSuperLine on 1300 360 149
to request the relevant form.
Limited cover
Limited cover means you are only covered Please read the important information
for claims arising from a sickness or injury about insurance in the Insurance Guide
which first became apparent on, or after, at caresuper.com.au/PDS before
the date your CareSuper cover was last making a decision about insurance cover.
commenced, recommenced or increased. Our Insurer
CareSuper’s insurer is MetLife Insurance
Other conditions and eligibility criteria Limited ABN 75 004 274 882, AFSL No. 238 096.
may apply. For full details of all exclusions,
restrictions and definitions that apply to
insurance cover through your CareSuper
account, refer to the Insurance Guide.

You should read the important information about the terms and conditions of insurance
cover through CareSuper before making a decision. Go to caresuper.com.au/PDS and
read our Insurance Guide. The material relating to insurance in your super may change
between the time when you read this PDS and the day you acquire this product.

14 | caresuper.com.au
 9 How to open an account
Joining CareSuper is easy – here are three different ways you can join.
1 Join online The amount of refund you receive will be
Visit caresuper.com.au/join. adjusted to take into account movements in
investment values during the period between
2 Complete a Member application form joining and cancelling membership. You will
You can download a Member application also be liable for any Government taxes and
form from caresuper.com.au/PDS or charges paid by CareSuper on your behalf.
request one by calling the CareSuperLine A refund will not necessarily be made to you
on 1300 360 149.
directly, if a cash refund is not permitted by
3 Through your employer law. For example, any contributions received
Your employer can sign you up either or preserved amounts transferred from
by completing the joining forms on your another super fund cannot be refunded to you
behalf or through EmployerOnline at but must be transferred to another super fund
caresuper.com.au. of your choice.
Employers wishing to enrol Employee Plan Enquiries and complaints
members into CareSuper must read this Members, employers and beneficiaries with
PDS and the Employer Guide available at enquiries or complaints should contact us in
caresuper.com.au. Once your employer one of the following ways:
has signed you up as an Employee Plan
• Call CareSuper on 1300 360 149 between
member, we’ll send you a Welcome Pack,
8am and 8pm, Monday to Friday (AEST)
which includes your membership details
and your member number. • Email: [email protected]
• Write to this address:
The Enquiries & Complaints Manager
 ill you be contributing to CareSuper
W CareSuper, Locked Bag 5087
directly, rather than via an employer? Parramatta NSW 2124
If so, you will need to join CareSuper’s
Personal Plan and apply for insurance You should read the important

cover if you want insurance. To join the information about enquiries and
Personal Plan, see options 1 and 2 above. complaints before making a decision.
Go to caresuper.com.au/PDS and
read Making enquiries & complaints.
The material relating to enquiries and
Cooling off period complaints may change between the
A cooling off period applies for members time when you read this PDS and the
who have joined other than as employer- day you acquire this product.
sponsored members in the Employee Plan.
After you apply to join CareSuper you have
14 days, from the date on which CareSuper
sends you confirmation of your application
10 Other information
being accepted, to cancel your membership Protecting your privacy
should you change your mind.
CareSuper collects your personal
New employers also have a cooling off information in order to establish and
period after joining CareSuper and enrolling manage your superannuation account. For
their first employee. Call the CareSuperLine more information see CareSuper’s Privacy
on 1300 360 149 for details. Policy at caresuper.com.au/privacypolicy.

CareSuperLine 1300 360 149 | 15

 Contact us

call CareSuperLine 1300 360 149

visit
 aresuper.com.au for the
c
latest news and information,
brochures and forms.
For online access to your
CareSuper account visit
caresuper.com.au and follow
the links to CareSuper
MemberOnline.

email [email protected]

write  areSuper
C
Locked Bag 5087
Parramatta NSW 2124

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The information in this PDS may change from time to time. Any changes to non-materially adverse
CR/MEM/PDS 855.0 09/17 ISS11

information in this PDS (including incorporated information which forms part of this PDS) may be
updated on CareSuper’s website. A copy of any updated information can be obtained on request
free of charge. Past performance is not a reliable indicator of future performance and you should
consider other factors before choosing a fund or changing your investments. CareSuper has
mentioned the names, products and/or services of third party companies with their consent.
This consent had not been withdrawn at the date of publication.