AvSuper members have started receiving their annual statements and the AvSuper Trustee Report.
As always, we recommend you read both documents carefully and then contact us with any questions you may have. Our annual report includes information about our investment performance and investment markets generally, as well as giving you updates on our insurance option and spouse accounts.
If you have requested hard copies and they have not yet arrived*, you can view them online while you wait. Of course, if they do not arrive within the next week, please let us know so we can check your contact details are correct before reissuing your statement.
∗ All members can choose to receive their statements and/or annual report electronically – simply log into Member Online to check and update your preferences under the ‘member details’ tab.
We are very pleased to announce members will be able to electronically access their accounts from our Canberra office as of today!
There will be an iPad in our Canberra foyer (just across the plaza from Airservices Australia reception) so that members can log into Member Online to check their account or make some changes (such as an investment switch, insurance application or update contact details).
We expect this to be particularly useful for members without private access to a computer at work and those wanting help with using Member Online – our Member Advice Consultants can join you in the foyer to talk about accessing and managing your account.
So any time you are in Canberra, come along and check your account in our office, and say hello while you’re here!
The Government released its federal Budget on Tuesday, 3 May 2016.
We have again prepared a fact sheet outlining the main super changes proposed in the Budget along with a commentary on how those changes may impact AvSuper members.
The impact for you
With over a dozen super-related proposals in the Budget, the proposed changes may have a significant effect on some members. Some of the key changes include
- reductions on the amount of money you can contribute to super, especially at concessional tax rates
- introduction of a “cap” on the amount of money you can transfer to an income stream (pension) account at retirement
- lowering the income threshold for high income earners (from $300,000 pa to $250,000 pa) where the contribution tax rate changes from 15% to 30%
- removal of the “work test” for older members.
The scope of the proposed changes is such that different groups of members are likely to be impacted in different ways so it is important to review the Budget, and the related legislation as things progress, in line with your personal situation.
Before making major decisions about your super and/or retirement income stream, please remember these changes are not yet law and may well be altered and delayed. We suggest you get personalised advice from our Member Advice Consultants to better understand your options and their implications.
The AvSuper team wishes all members and employers a very happy and safe Christmas.
We also want to thank you for your support over the last twelve months and look forward to helping you have a prosperous 2016.
This also seems like a good time to tell you some important news.
AvSuper office hours
The AvSuper office will be closed over the Christmas/New Year break, from 5pm Wednesday 23 December 2015 until 9am Monday 4 January 2016.
Member Online is of course fully functional throughout the holiday. During this period, you can leave us a phone message or send us emails and we will respond as quickly as possible once the office reopens.
Member online update
We are very excited about 2016 and are pleased to tell you that we expect to be launching an updated Member Online in mid to late January 2016. Full details will be sent out to members in late January but don’t be surprised if you try logging in and things look a little different!
The new improved Member Online will of course continue to allow you to view and update your personal details, investment choice and non-binding beneficiaries, as well as view recent transactions and your insurance cover.
The AvSuper Team