Grace Thompson
Catholic Super is an industry super fund that was founded over 50 years ago in 1971. It was originally created for those working in the Catholic education sector but is now open to everyone to join. Catholic Super offers superannuation for the employed and the self-employed and returns all profits to its members. The fund operates within the context of a Christian ethical framework, with values and goals to benefit its members and employers through integrity, respect, trust, compassion, and humility. As of 2018, Catholic Super manages over $9.5 billion on behalf of over 74,000 members and more than 10,000 employers.
| Characteristics | Values |
|---|---|
| Type of Fund | Industry super fund |
| Who is it for? | Catholic Super was designed for employees of the Catholic education sector, but it is open to everyone to join. |
| Number of Members | Over 74,000 as of 30 June 2018; more than 70,000 at the time of writing in 2022; over 93,400 as of 30 September 2024 |
| Assets Under Management | Over $9.5 billion as of 30 June 2018; over $13.7 billion as of 30 September 2024 |
| Year Established | 1971 |
| Online Portal | Yes |
| Investment Options | Pre-mixed, sector, and direct investment options |
| Insurance | Default insurance cover with no medical exams; members can increase their level of cover or opt out |
| MySuper Investment Option Performance | Outperformed the median over 1, 3, and 5 years |
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What You'll Learn
Catholic Super is a not-for-profit industry fund
Catholic Super provides its members with financial planning, insurance, retirement planning, aged care planning, and pensions. It also offers a range of banking services through MyLife MyFinance, the company's banking institution. The fund has a dedicated online portal where members can view their account balance, access statements, and download super fund information.
Catholic Super offers a variety of investment options, including pre-mixed, sector, and direct investment choices. When choosing an investment option, members should consider their investment timeframes and goals, as well as their personal risk tolerance for market fluctuations. The fund also provides default insurance cover when joining, with no medical exams required.
Catholic Super is committed to improving the financial futures of people working in industries dedicated to caring for others. The fund returns all profits to its members and strives to provide great care and benefits to its members and employers through integrity, respect, trust, compassion, and humility.
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It offers personal and corporate superannuation
Catholic Super is a public offer, profit-to-member industry super fund that offers both personal and corporate superannuation. It was founded over 50 years ago for people working in the Catholic education sector, but now anyone can join. Catholic Super has over 93,400 members and $13.7 billion in assets under management. It offers a default insurance cover with no medical exams, and members can also choose from a range of pre-mixed investment options with different risk levels and asset allocations.
The fund has received the highest platinum performance rating from independent ratings agency SuperRatings as a 'Best value for money' fund for over 15 years in a row for its super and retirement income products. Members can access one-on-one support and expert advice about their super through Catholic Super's Service Centre.
Catholic Super offers income protection insurance, which provides payouts if a member is unable to work and loses their income. Members can also choose to increase their level of cover at any time or opt out of insurance cover altogether. The fund offers both accumulation and pension products, allowing members to plan for their future with a fund that works hard for them.
Catholic Super's MySuper investment option has outperformed the median over 1, 3, and 5 years. The fund provides tax discounts, investment benefits, and discounted insurance cover. Members can join Catholic Super by completing an online application form, which takes around 10-20 minutes.
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It was originally created for those in Catholic education
Catholic Super is an industry super fund that was originally created for those working in Catholic education. It was founded over 50 years ago in 1971 and has been improving the financial futures of people working in industries dedicated to caring for others. It is a not-for-profit fund that operates within a Christian ethical framework, with values and goals that benefit their members and employers through integrity, respect, trust, compassion, and humility. Catholic Super is now open to everyone to join, offering personal and corporate superannuation and account-based pension products.
The fund has more than 70,000 members and manages over $9.5 billion on their behalf, with over 10,000 employers as of June 30, 2018. Catholic Super provides support and guidance to its members, including financial planning, insurance, retirement planning, aged care planning, and pensions. It also offers a range of banking services through MyLife MyFinance, its banking institution.
Catholic Super has a dedicated online portal where members can view their account balance, access statements, and download super fund information. When it comes to investment options, members can choose from pre-mixed, sector, and direct investment options. The fund also offers default insurance options, and eligible members will receive basic insurance cover when joining without the need for medical exams.
In 2019, Catholic Super merged with Equip Super, and as of September 30, 2024, the combined entity had over 93,400 members with over $13.7 billion in assets under management. This merger aimed to deliver a higher level of choice and service to its members. Catholic Super is committed to providing great care to its members and working hard to improve their financial futures.
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Catholic Super has over 70,000 members
Catholic Super is an industry fund with over 70,000 members. It was established in 1971 to provide superannuation for the employed and self-employed within the Catholic education sector. However, it is not exclusive to Catholics or Christians, and anyone can join. The fund operates within a Christian ethical framework, with values such as integrity, respect, trust, compassion, and humility.
Catholic Super offers a range of benefits to its members, including financial planning, insurance, retirement planning, aged care planning, and pensions. They also provide banking services through their company banking institution, MyLife MyFinance. The fund has a dedicated online portal where members can view their account balance, access statements, and download super fund information.
In terms of investments, Catholic Super offers pre-mixed, sector, and direct investment options. Members can choose their investment options based on their risk tolerance, investment timeframes, and goals. The fund also provides default insurance cover when joining, with no medical exams required.
Catholic Super has grown significantly over the years, and as of September 30, 2024, the combined entity, including Equip Super, had over 93,400 members with over $13.7 billion in assets under management. The fund is committed to improving the financial futures of its members and providing great care and support.
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It offers default insurance cover
Catholic Super is a not-for-profit industry fund that offers default insurance cover to eligible members when they join the fund, with no medical exams required. This default insurance cover provides a basic level of protection in the event that members are unable to work and lose their income. It also covers members in the event of death or total and permanent disability.
The default insurance cover through Catholic Super ensures that members and their families are financially protected if the member can no longer earn an income due to an injury or death. This aspect of the fund is particularly valuable, as it provides peace of mind and financial security during difficult times.
While the default insurance cover is a significant benefit, Catholic Super also recognises that members' insurance needs may change over time. As such, they offer flexibility by allowing members to increase, decrease, or cancel their cover at any time. This adaptability ensures that members can adjust their insurance coverage according to their evolving circumstances and requirements.
Additionally, Catholic Super has partnered with MetLife to provide members and their families with access to a suite of virtual healthcare services at no extra cost. This supplementary offering enhances the overall wellbeing of the Catholic Super community by providing convenient and accessible healthcare solutions.
It is important to note that Catholic Super's insurance cover is subject to certain conditions. For example, if a member's account is inactive and does not receive contributions or additional super, their insurance cover may be cancelled. However, members will be notified in advance, providing opportunities to retain their cover or make contributions to maintain their insurance protection.
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Frequently asked questions
Yes, Catholic Super is an industry fund.
Catholic Super is a not-for-profit super fund that was founded over 50 years ago. It is a division of Equip Super, with which it merged in 2019.
Catholic Super was originally created for those working in the Catholic education sector. However, it is now open to everyone to join, regardless of religious affiliation.
Catholic Super offers support and guidance to its members, including financial planning, insurance, retirement, aged care planning, and pensions. It also offers a range of banking services through MyLife MyFinance, the company's banking institution.
As of 2018, Catholic Super had over 74,000 members and over 10,000 employers. By 2024, the combined entity of Catholic Super and Equip Super had over 93,400 members.
