Merger partner for AvSuper
Successor Fund Transfer (SFT) Update- 26 March 2024
As we draw closer to the SFT date of 1 May 2024 we continue to work with Australian Retirement Trust (ART) to ensure a smooth and successful transition.
We have planned a number of communications designed to outline the upcoming changes and what they mean for you. These are outlined below.
AvSuper Webinar
Our latest webinar was dedicated to preparing you for the SFT. We covered the investment options mapping process, changes in insurance and fees, the timeline of the final weeks and provided information regarding any actions you may need to take prior to the SFT.
Q&A
Significant Event Notice
Every member was sent a Significant Event Notice (SEN) regarding the upcoming SFT.
The Significant Event Notices were sent to members between the 15th and 21st March. There are different versions of the SEN depending on your account type: Public Offer, Corporate (including Defined Benefit) and Income Stream.
Your SEN will cover the following areas in detail, including:
- Investment options: Your AvSuper account will be transferred to the ART investment option(s) that has been determined to be the most appropriate corresponding option in ART. The SEN will detail the investment options that are available to you at ART and which AvSuper options they have been mapped to.
- Fees and costs: A comparison table will be provided, highlighting any changes in fees and costs, with additional explanation provided.
- Insurance Cover: Insurance fee rates under ART differ from AvSuper’s insurance fee rates. Any changes applicable to insurance cover will vary according to your account type and these will be detailed in the SEN.
- Additional information: this includes information about pension payments (where relevant), advice services, communication preferences, third party authorities and more.
Additional ART resources
ART has launched a microsite where you will find information about the transition as it becomes available. This will include FAQs, Transfer Guides and Product Disclosure Statements.
For general information about ART, the transition and the product you be transitioned to, contact ART on 1800 076 338 or via email at avsuper_transition@art.com.au
ART will also be hosting a series of webinars from 27 March 2024 to help you understand various aspects of the transition, including:
• Key benefits of membership in Australian Retirement Trust (ART)
• Key dates to be aware of, and a checklist of actions you may wish, or need to consider
• Investment options available to you within Australian Retirement Trust
• Insurance changes and arrangements (if applicable)
About Australian Retirement Trust (ART)
As the second largest superfund in Australia, ART was created in Feb 2022 from the merger of two Queensland-based funds, QSuper and Sunsuper. At present, their member base is 2.2 million and they manage over $240 billion in members’ funds. Like AvSuper, ART offers defined benefit, accumulation and income stream accounts, and a solid performance history. ART also offers insurance and financial advice to their members and has won a number of customer service awards.
Watch the latest video below for an introduction to ART and more information on the successor fund transfer.
Frequently Asked Questions
Arrangements after Transition
Questions?
For information about your current AvSuper account contact us on 1300 128 751 or email avsinfo@avsuper.com.au
For general information about ART and the transition contact ART on 1800 076 338 or email avsuper_transition@art.com.au.