Quick Verdict
CareSuper is cheaper at $50k ($423/yr vs $465/yr). CareSuper leads on 10-year returns (8.00% vs 7.20%).
Fund Overview
CareSuper
| Type | Industry |
| Established | 1986 |
| Trustee | CareSuper Pty Ltd |
| HQ State | VIC |
| Members | 220K |
| Assets (AUM) | $28B |
First Super
| Type | Industry |
| Established | 1984 |
| Trustee | First Super Pty Ltd |
| HQ State | VIC |
| Members | 50K |
| Assets (AUM) | $6B |
Fee Comparison
| Fee Component | CareSuper | First Super |
|---|
| Admin Fee (flat) | $78 | $85 |
| Admin Fee (%) | 0.09% | 0.20% |
| Investment Fee | 0.55% | 0.48% |
| Indirect Cost Ratio | 0.05% | 0.08% |
| Buy/Sell Spread | 0.12% | 0.10% |
Total Annual Fee by Balance
| Balance | CareSuper | First Super |
|---|
| $10,000 | $147 | $161 |
| $25,000 | $250 | $275 |
| $50,000 | $423 | $465 |
| $100,000 | $768 | $845 |
| $250,000 | $1,803 | $1,985 |
| $500,000 | $3,528 | $3,885 |
Performance Comparison
| Period | CareSuper | First Super |
|---|
| 1-Year | 11.00% | 10.20% |
| 3-Year | 7.80% | 7.00% |
| 5-Year | 8.00% | 7.20% |
| 7-Year | 8.10% | 7.50% |
| 10-Year | 8.00% | 7.20% |
| FY2024 | 8.80% | 8.00% |
| FY2023 | 9.80% | 9.00% |
| FY2022 | -3.00% | -3.20% |
| FY2021 | 19.20% | 18.00% |
| FY2020 | -0.20% | -0.50% |
| FY2019 | 8.00% | 7.50% |
| FY2018 | 9.80% | 9.20% |
| FY2017 | 12.00% | 11.50% |
| FY2016 | 3.80% | 3.00% |
| FY2015 | 10.00% | 9.20% |
Insurance Comparison
CareSuper
| Insurer | AIA Australia |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
First Super
| Insurer | MetLife Insurance |
| Death Cover | Yes — opt-out |
| TPD Cover | Yes — opt-out |
| IP Cover | Yes — opt-in |
Annual Premium Comparison by Age
| Age | CareSuper | First Super |
|---|
| 25 | $125 | N/A |
| 30 | $210 | N/A |
| 35 | $365 | N/A |
| 40 | $560 | N/A |
| 45 | $870 | N/A |
| 50 | $1,350 | N/A |
| 55 | $2,000 | N/A |
| 60 | $2,850 | N/A |
APRA Heatmap Ratings
CareSuper
| Fee Rating | Around median |
| Return Rating | Around median |
| Sustainability | Performing |
First Super
| Fee Rating | Above median |
| Return Rating | Below median |
| Sustainability | Attention |
Investment Options
CareSuper
| Total Options | 10 |
| Ethical/ESG Option | No |
| Indexed Option | No |
| Direct Investing | No |
First Super
| Total Options | 6 |
| Ethical/ESG Option | No |
| Indexed Option | No |
| Direct Investing | No |
Member Services
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 |
First Super
| App Ratings | iOS 3.8 / Android 3.5 |
| Advice | Not specified |
| AFCA Complaints | 4.4 per 10k members |
| Call Centre | Not specified |
Verdict
On fees, CareSuper is the more affordable option. At a $50,000 balance, CareSuper costs $423 per year compared to $465 for First Super — a difference of $42 annually. Over a 30-year career, that difference compounds meaningfully.
Looking at long-term performance, CareSuper holds the edge with a 10-year return of 8.00% versus 7.20% for First Super — a gap of 0.80% per annum. While not enormous, that gap adds up over the compounding horizon of a superannuation balance.
On insurance, CareSuper uses AIA Australia while First Super is backed by MetLife Insurance. CareSuper charges around $560/year for a 40-year-old's default cover. On member satisfaction, CareSuper has fewer AFCA complaints at 3.9 per 10,000 members compared to 4.4 for the other.
CareSuper is best suited for it professionals, lawyers legal workers, while First Super targets construction workers. The two funds also serve different industries: CareSuper focuses on professional services, corporate, while First Super targets timber, furniture. If your employer defaults to one of these funds, that alone may tip the decision.
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.