The Federal Government’s 2009 Budget includes some proposed changes to superannuation that may have an impact on some member’s savings plans over the next few years.

In summary, the relevant proposed changes are:
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The AvSuper Trustee has determined that with effect from 1 January 2009, death benefits paid to a spouse and/or children of deceased AvSuper members will have anti-detriment provisions applied.

Anti-detriment provisions aim to restore your accumulation benefit to what it would have been if contributions tax had not been deducted from each concessional contribution made during your period of membership (that is, contributions made by an employer or on a salary sacrifice basis).

Please contact us if you require additional information.

On 31 October 2008, the Government announced that the trustee boards of Australian Reward Investment Alliance (ARIA), the Military Superannuation and Benefits Scheme (MSBS) and the Defence Force Retirement and Death Benefits Scheme (DFRDB) will merge to form a single trustee board from 1 July 2010.

While AvSuper shares many similarities with some of the affected super funds, we are not a Government super fund and we are therefore unaffected by these changes.
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