Governance and reporting

How we operate

Our Trustee

The trustee of CareSuper (ABN 74 559 365 913) is CareSuper Pty Ltd (ABN 14 008 650 628, AFSL 238 718).

The rules about the internal management of the trustee (including for example, how directors are appointed) are set out in the Trustee Constitution.

License Information

The trustee of CareSuper (ABN 74 559 365 913) is CareSuper Pty Ltd (ABN 14 008 650 628, AFSL 238718).

CareSuper is registered by APRA as a registrable superannuation entity (R1004373).

The trustee also holds an Australian Financial Services Licence (AFSL 238718) issued by ASIC on 31 January 2004. The licence authorises the trustee to provide a super trustee service and to deal in and provide financial advice about super products.

Managing conflicts of interest

The Conflicts management framework enables the trustee of CareSuper to appropriately manage relevant conflicts of interest and duties that may arise.
The Conflicts management framework operates to protect the integrity and quality of decision-making by responsible persons associated with CareSuper, by ensuring they’re not compromised by actual or potential conflicts. responsible persons include all Directors, the CEO, members of the Executive Team and the external auditor.

A relevant interest or duty is one that might reasonably be considered to have the potential to have a significant impact on the capacity of the holder to act in a manner that's consistent with the best interests of CareSupers beneficiaries.

The Conflicts management framework requires that all responsible persons disclose any potential or actual conflicts of interests or duties. All responsible persons have an obligation under the Conflicts management framework to notify the trustee of potential conflicts as they arise and annually. Any disclosures made are assessed by the Conflicts Officer and if necessary, appropriate conflict management measures are put in place – this will normally involve disclosure, control or avoidance of the relevant conflict. The trustee Board must also evaluate and approve the effectiveness of the conflict management processes under the Conflicts management framework. The conflicts management process is required to be monitored and is subject to review (internally and independently).

Consistent with increased transparency requirements, the Conflicts Officer is also required to record all relevant conflicts in the relevant register.
View the Register of Relevant Interests and Duties.

Annual trustee determination and member outcomes assessment

Each year the trustee is required to determine whether the financial interests of members are being promoted by the trustee having regard to a comparison with other similar products and specified benchmarks and factors. The annual determination, and a summary of the assessments and comparisons on which the determination is based is available here.

Insurance in Superannuation Voluntary Code of Practice

CareSuper previously stated its intent to adopt the Insurance in Superannuation Voluntary Code of Practice (the Code). The Code was scheduled to come into effect on 1 January 2022.Since the development of the Code, the majority of the requirements have been overtaken by legislative and regulatory reforms. In addition, many of the elements of the Code have already been implemented by CareSuper to improve member benefits and experience.

The Code Owners announced on 30 June 2021 that the Code has been replaced with guidance on issues not covered by legislation. This guidance aims to improve outcomes for vulnerable members and claims handling for members with insurance in their super accounts.

The guidance has been developed by the Code Owners and CareSuper will consider it in our interactions with members.

Note: The Code Owners are The Association of Superannuation Funds of Australia (ASFA), the Australian Institute of Superannuation Trustees (AIST) and the Financial Services Council (FSC).

How our Board members are appointed

There are rules about how our Board members are nominated, appointed and removed. The process varies depending on the type of Director role on the Board.

Find out how the process works for board appointments.

Remuneration of our Directors and Executive Officers

Our remuneration structure is designed to attract and retain the experts we need to get the best outcomes for our members.

View the most recent remuneration information for our Directors and Executive Officers: Spirit Super audited financial report 2023-24 

Board Committees

The trustee Board has established committees to oversee certain business areas within Spirit Super. These committees are made up of Board members and regularly report to the Board.

Board meeting and committee attendance

Historical Board meeting attendance

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