Quick Verdict
AustralianSuper is cheaper at $50k ($392/yr vs $423/yr). AustralianSuper leads on 10-year returns (8.90% vs 8.00%).
Fund Overview
AustralianSuper
| Type | Industry |
| Established | 2006 |
| Trustee | AustralianSuper Pty Ltd |
| HQ State | VIC |
| Members | 3.4M |
| Assets (AUM) | $365B |
CareSuper
| Type | Industry |
| Established | 1986 |
| Trustee | CareSuper Pty Ltd |
| HQ State | VIC |
| Members | 220K |
| Assets (AUM) | $28B |
Fee Comparison
| Fee Component | AustralianSuper | CareSuper |
|---|
| Admin Fee (flat) | $137 | $78 |
| Admin Fee (%) | 0.00% | 0.09% |
| Investment Fee | 0.46% | 0.55% |
| Indirect Cost Ratio | 0.05% | 0.05% |
| Buy/Sell Spread | 0.10% | 0.12% |
Total Annual Fee by Balance
| Balance | AustralianSuper | CareSuper |
|---|
| $10,000 | $188 | $147 |
| $25,000 | $264 | $250 |
| $50,000 | $392 | $423 |
| $100,000 | $647 | $768 |
| $250,000 | $1,412 | $1,803 |
| $500,000 | $2,687 | $3,528 |
Performance Comparison
| Period | AustralianSuper | CareSuper |
|---|
| 1-Year | 12.10% | 11.00% |
| 3-Year | 8.50% | 7.80% |
| 5-Year | 8.20% | 8.00% |
| 7-Year | 8.50% | 8.10% |
| 10-Year | 8.90% | 8.00% |
| FY2024 | 9.10% | 8.80% |
| FY2023 | 10.30% | 9.80% |
| FY2022 | -2.70% | -3.00% |
| FY2021 | 20.40% | 19.20% |
| FY2020 | -0.70% | -0.20% |
| FY2019 | 8.60% | 8.00% |
| FY2018 | 10.30% | 9.80% |
| FY2017 | 13.10% | 12.00% |
| FY2016 | 4.20% | 3.80% |
| FY2015 | 10.80% | 10.00% |
Insurance Comparison
AustralianSuper
| Insurer | TAL Life Limited |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
CareSuper
| Insurer | AIA Australia |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
Annual Premium Comparison by Age
| Age | AustralianSuper | CareSuper |
|---|
| 25 | $156 | $125 |
| 30 | $260 | $210 |
| 35 | $416 | $365 |
| 40 | $624 | $560 |
| 45 | $988 | $870 |
| 50 | $1,508 | $1,350 |
| 55 | $2,236 | $2,000 |
| 60 | $3,172 | $2,850 |
APRA Heatmap Ratings
AustralianSuper
| Fee Rating | Below median |
| Return Rating | Above median |
| Sustainability | Performing |
CareSuper
| Fee Rating | Around median |
| Return Rating | Around median |
| Sustainability | Performing |
Investment Options
AustralianSuper
| Total Options | 14 |
| Ethical/ESG Option | Yes |
| Indexed Option | Yes |
| Direct Investing | No |
CareSuper
| Total Options | 10 |
| Ethical/ESG Option | No |
| Indexed Option | No |
| Direct Investing | No |
Member Services
AustralianSuper
| App Ratings | iOS 4.7 / Android 4.5 |
| Advice | Limited personal advice included; comprehensive fee-for-service |
| AFCA Complaints | 2.5 per 10k members |
| Call Centre | 8am-8pm AEST Mon-Fri |
CareSuper
| App Ratings | iOS 4.3 / Android 4.1 |
| Advice | Limited personal advice included |
| AFCA Complaints | 3.9 per 10k members |
| Call Centre | 8am-7pm AEST Mon-Fri |
Verdict
On fees, AustralianSuper is the more affordable option. At a $50,000 balance, AustralianSuper costs $392 per year compared to $423 for CareSuper — a difference of $31 annually. Over a 30-year career, that difference compounds meaningfully.
Looking at long-term performance, AustralianSuper holds the edge with a 10-year return of 8.90% versus 8.00% for CareSuper — a gap of 0.90% per annum. While not enormous, that gap adds up over the compounding horizon of a superannuation balance.
On insurance, AustralianSuper uses TAL Life Limited while CareSuper is backed by AIA Australia. For a 40-year-old, CareSuper's default premiums of around $560/year undercut AustralianSuper's $624/year, giving CareSuper the edge on insurance costs. On member satisfaction, AustralianSuper has fewer AFCA complaints at 2.5 per 10,000 members compared to 3.9 for the other.
AustralianSuper is best suited for large fund stability, low fees, while CareSuper targets it professionals, lawyers legal workers. One key difference is scale: AustralianSuper manages $365B in assets and has 3.4M members, dwarfing CareSuper's $28B. Larger funds generally negotiate better fees and access exclusive deal flow, though smaller funds can offer more personalised service.
Important information
The information on SuperFind is general in nature and does not take into account your personal financial situation, needs, or objectives. It is not personal financial advice. Before making any financial decisions about your superannuation, consider whether the information is appropriate for your circumstances and consider seeking advice from a licensed financial adviser. Super fund data including fees and performance returns shown on this site were current as of April 2026 — always verify figures on the fund's website. Past performance is not a reliable indicator of future performance. Data sourced from APRA, ATO, and individual fund disclosures. SuperFind is a
DecisionLab publication.