CareSuper has received authorisation from the Australian Prudential Regulation Authority (APRA) to offer a MySuper product.
Its balanced default option will become the fund's new default option from 1 July 2013.
CareSuper said it would be a very straight-forward transition for members.
It also announced this week it would launch further direct investment options to complement its ASX300 option.
Industry funds REST Industry Super, HOSTPLUS, HESTA, NESS Super, TWUSUPER, Media Super and Club Plus Super have all received authorisation for MySuper.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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