What Spirit Super does

Spirit Super was an Australian industry superannuation fund operating under a profit-to-member governance model, in which surpluses are returned to members as lower fees or improved returns rather than distributed to external shareholders. The fund's product set covered the full superannuation lifecycle: accumulation accounts, pension/retirement income accounts (including Transition to Retirement and Flexible/Managed Income options), defined benefit arrangements, insurance through super, and tiered financial advice services (simple, complex, comprehensive). Technology delivery rested on a member online portal, online super calculators, a Direct Investment option for member-directed investing, and an iOS/Android mobile app for account management, with phone support via 1800 005 166 and a multi-channel marketing footprint spanning email/post, social media, webinars, and employer partnerships.

Spirit Super was established in 2021 through the merger of Tasplan and the Motor Trades Association of Australia Superannuation Fund, reaching over 350,000 members and approximately $30 billion in funds under management, with a deliberate focus on growing membership in regional Australia. The revenue model is fee-based on FUM (subscription/recurring), with fees disclosed in product disclosure statements; as an industry fund, margins are structurally narrow and any surpluses flow back to members. On 1 November 2024, Spirit Super merged with CareSuper (founded 1986), creating a combined entity of 573,000+ members and over $53 billion in funds under management operating under the CareSuper brand, with Spirit Super ceasing to exist as a separate legal entity. Post-merger, former Spirit Super members gained access to expanded investment options (Alternative Growth, Property), broader financial advice, an education hub, online calculators, and non-lapsing binding beneficiary nominations.

Name

Spirit Super

Legal name

Spirit Super

Website

https://mtaasuper.com.au

Company type

Private

Founded year

2021

Operating status

Acquired

Headcount range

251–500 employees

Short description

Spirit Super was an Australian industry superannuation fund serving 350,000+ members with $30B in FUM, formed in 2021 from the Tasplan and MTAA Super merger. On 1 November 2024 it merged with CareSuper, creating a combined 573,000+ member fund with $53B+ in FUM.

Ownership category

akta.pro rank

Product category

Superannuation Fund Management

NAICS

Pension Funds (525110)

SIC

Investment Advice (6282)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

Keywords

• Superannuation fund management
• Retirement savings products
• Pension account services
• Investment management options
• Financial advice services

Headquarters

HQ city

Hobart

HQ country

Australia

HQ region

Oceania

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Superannuation Fund Management: As an industry super fund (profit-to-member structure), revenue is generated through management fees charged on funds under management. All profits are returned to members as better returns and lower fees.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Spirit Super was an Australian industry superannuation fund that offered accumulation accounts, pension accounts, transition to retirement options, defined benefit schemes, and insurance through super for working Australians saving for retirement. Members accessed their accounts through digital channels including a Member Online portal, iOS/Android mobile app, online calculators, and a Direct Investment option, and could receive simple, complex, or comprehensive financial advice. The fund operated on a profit-to-member basis, returning all surpluses to members through competitive fees and improved benefits.

Product overview

Spirit Super was an Australian industry superannuation fund established in 2021 through the merger of Tasplan and the Motor Trades Association of Australia Superannuation Fund. It offered a range of superannuation products including accumulation accounts, pension accounts, transition to retirement options, and defined benefit accounts. Members could access their accounts through a mobile app and online Member Online portal. Following the merger with CareSuper on 1 November 2024, Spirit Super members were transitioned to the combined CareSuper fund, gaining access to expanded investment options (Alternative Growth and Property), additional financial advice services, a new education hub, and online super calculators.

Differentiator

Problem solved

Functional benefit

Products and services

• Spirit Super Accumulation Account Superannuation accumulation account for members building retirement savings through employer and personal contributions during their working life. Previously offered by Spirit Super and transitioned to CareSuper following the November 2024 merger.
• Spirit Super Pension Account
• Transition to Retirement
• Defined Benefit
• Investment Options
• Financial Advice Services
• Insurance through Super

Quantifiable outcome

• Over $53 billion in combined funds under management post-merger
• +1 more outcomes

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• CareSupercoreStrategic or Co-development Partner · 1 November 2024Spirit Super and CareSuper completed their merger on November 1, 2024, creating a combined superannuation fund with over 573,000 members and over $53 billion in funds under management. The merger was conducted to create a bigger, stronger fund with additional scale for improved member benefits, investment capabilities, and product development. Spirit Super was established in 2021 through the merger of Tasplan and the Motor Trades Association of Australia Superannuation Fund. CareSuper was established in 1986. The combined entity operates under the CareSuper name as an Industry SuperFund.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hostplus: Large industry super fund, profit-to-member model, with a similar full-lifecycle product set and a strong employer-sponsorship channel. Direct competitor for default-fund mandates and consolidation flows.
• HESTA: Industry super fund operating a profit-to-member model with accumulation, retirement income, and insurance products. Directly comparable in distribution mix (employer partnerships plus financial adviser channel) and member engagement approach.
• REST: Industry super fund of similar scale and target member base (working Australians), offering accumulation, pension, and insurance through super. Competes directly on fees, performance, and digital member experience.
• NGS Super: Industry super fund of similar size range with a comparable profit-to-member model, employer-sponsorship channel, and full accumulation/pension product set. Most directly comparable peer on pre-merger Spirit Super scale.
• AustralianSuper: Australia's largest industry super fund, operating the same profit-to-member model and serving a broadly overlapping working-Australian member base. Directly comparable in product set (accumulation, pension, TTR, defined benefit) and employer-sponsorship GTM.
• Cbus: Industry super fund with a profit-to-member structure serving a specific industry base but competing for the same pool of employer-sponsored contributions. Comparable in product breadth, advice offering, and digital tooling.
• UniSuper: Industry super fund with a defined benefit heritage similar to Spirit Super's, operating a profit-to-member structure and competing for employer-sponsored contributions and member retention in the Australian market.
• Aware Super: Major industry super fund formed via merger (including VicSuper) with comparable FUM scale and an industry-fund profit-to-member structure. Competes head-to-head for employer mandates and member balances across the same Australian segments.
• Prime Super: Smaller industry super fund with a similar regional-Australia orientation and profit-to-member model, also resulting from prior industry fund mergers. Comparable in member-base profile and product scope.

Broad incumbents

• Colonial First State: Large retail superannuation and investment platform with a broad portfolio including accumulation, pension, and advice services. Not a profit-to-member fund but competes for the same Australian super balances, particularly through employer and adviser channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/caresuper
• Facebookfacebook.com/TheCareSuper
• LinkedInau.linkedin.com/company/caresuper
• Instagraminstagram.com/caresuperofficial
• Xx.com/spiritsuperau

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spirit Super