Frequently Asked Questions
- I can't remember my member number. What should I do?
- I have forgotten my PIN. What do I do?
- How do I open an account for my spouse?
- I have some superannuation in another fund; can I move it to my AvSuper account?
- I have separated from my spouse and need some information on superannuation for a property settlement. How do I get this?
- I don't believe the salary being used to determine my superannuation is correct. What should I do?
- Are superannuation contributions tax deductible?
- Do I have to take my benefit as a lump sum from AvSuper?
- What is the difference between an after tax contribution to superannuation and a before tax (salary sacrifice) contribution to super?
- Can anyone contribute to superannuation and receive contributions from their employer?
- Can I leave my superannuation in the Fund as long as I like?
Questions relating solely to Defined Benefit Members
- What is a defined benefit?
- Can I transfer my defined benefit to the accumulation division of AvSuper?
- As a defined benefit member my benefit is calculated using my Final Average Salary (FAS) - what happens if I decide to work part-time?
- I was considering taking long service leave on half pay, how does this affect my Final Average Salary?
- I am a defined benefit member. What happens if I take unpaid leave?
- Do I get investment choice as a defined benefit member?
- What if I don't make an investment choice for my voluntary contributions?
- My statement shows that I have a surcharge debt. What does this mean?
- What are the fees and charges applied to my account?
Questions relating solely to Accumulation/Voluntary Members
- How does my salary affect my super entitlement?
- What happens if I take leave without pay or on reduced pay?
- Can I choose how my money is invested as an accumulation member?
- What if I don't make an investment choice?
- What fees and charges do I pay as a member of AvSuper?
Answers - General
Check your last statement or call us on 1800 805 088.
You can request a new PIN to be emailed to you via the Member Online login page. If we have your email address, you can request us to email you a new PIN, otherwise we will mail it to you. Once you have logged in, you can change your password to one you will remember easily.
If you have been locked out of your account because of too many incorrect logins, please contact us for help.
Download and read the Guide to AvSuper memebrship (PDS) to find out about our general membership. Then complete the AvSuper Membership Application and return it to us with your initial contribution. Call AvSuper on 1800 805 088 if you still have queries after reading the document.
Yes. No fee is charged by AvSuper for such transfers, however, your old fund may charge an exit fee. You may also need to check with the other fund whether you will lose any benefits by making the transfer. Please refer to our transferring to AvSuper page for details.
When the money is received it goes into the accumulation section of the Fund and accrues interest according to the investment choice you have made, or at the rate applicable to the Growth option if you haven't made a choice.
Our Family law and superannuation fact sheet briefly describes the process which you need to follow to obtain the necessary information. In most cases, AvSuper does not charge for providing the information.
If you are a defined benefit member, it is advisable to obtain a valuation of your benefit as well. It is likely that the Family Court will require this information. Your legal adviser can normally arrange this. We can provide a valuation for a fee of $250.
If you decide to split your superannuation as part of the settlement, there is a charge of $410 - $205 is deducted from the account balance of each party at the time the benefit is split.
Any queries on Family Law issues can be directed to us on 1800 805 088.
The salary we use is provided to us by your employer. You need, therefore, to approach your employer with any queries regarding the salary we are using.
If you earn no more than 10% of your income from an employment arrangement (e.g. you are self-employed) you may be able to claim a tax deduction for any personal contributions up to certain limits. Please refer to the ATO website for details of eligibility and the specific tax deductions available.
Before you submit your tax return to claim a deduction for any super contributions you may have made, you must send us a completed Deduction for personal super contributions form (available from the ATO website.) We will send you an acknowledgment of the form which you then include as part of your income tax return.
A tax offset may also be available for contributions made for a spouse within certain limits.
Remember that for tax concessions to be claimed for a contribution, it must be in our bank account by 30 June of that financial year. Don't leave the contribution until the last minute or you may miss out on the deduction!
No. When you are eligible to withdraw your super, you can leave it in AvSuper, take it as a lump sum or purchase an AvSuper retirement income stream, as described in the income stream section of our website. We also offer transition to retirement income streams if you are still working after reaching your preservation age.
An after tax contribution (also known as a non-concessional contribution) is one you have paid from your net salary. Your gross salary will have been taxed at the appropriate rate and your nominated contribution will then have been deducted from what is left.
As you have already been fully taxed on this money it will not be taxed again by the superannuation system, either on entry or exit. Any earnings on it will however be subject to taxation in the Fund and assessable for taxation purposes on exit. It is considered a personal contribution for purposes of attracting a Government co-contribution, providing other criteria are met.
A before tax or salary sacrifice contribution (also known as a concessional contribution) is one taken from your gross salary. This option is only available if your employer agrees to it.
The chosen contribution is taken from your gross salary and you are only taxed on what is left. A contribution made in this way is classed as an employer contribution. 15% tax is deducted from the contribution when we receive it and earnings on it will be taxed. It is not considered a personal contribution to qualify for the Government co-contribution.
Salary sacrifice contributions are classed as concessional contributions for contribution limit purposes. Since 1 July 2009 salary sacrifice contributions have been included as assessable income for the purposes of determining your eligibility for the Government co-contribution.Please refer to our Understanding contribution limits fact sheet to find out how much you can contribute each year without attracting additional tax.
Anyone aged between 18 and 65 can contribute to superannuation and in some cases those under 18 may also contribute if they are working. Contributions can also be paid by the employers of these people. Once you reach age 65, restrictions are placed on personal and employer contributions, as explained in the table below.
An award contribution is one required to be paid to an employee under an industrial award.
|Age Group||Superannuation Guarantee employer contribution||Award employer contributions||Voluntary employer contributions (including member salary sacrifice contributions)||Member Contributions|
|65-69||Yes||Yes||Only if employee has worked at least 40 hours in not more than 30 consecutive days in the financial year||Only if contributor has worked at least 40 hours in not more than 30 consecutive days in the financial year|
|70-74||No||Yes||Only if employee has worked at least 40 hours in not more than 30 consecutive days in the financial year||Only if the employee has worked at least 40 hours in not more than 30 consecutive days in the financial year; spouse contributions can't be accepted|
Yes, you can stay with AvSuper regardless of your age or working status. Once you reach preservation age, you may choose to move your money into an income stream.
Answers - Defined Benefit Members
A defined benefit is where the amount of your end benefit is determined by a formula based on your final average salary and your accrued benefit multiple. The level of salary increase you receive will therefore have a substantial impact on your retirement benefit. The size of the multiple will depend on the period of time you have been in the scheme and the amount you have personally contributed.
The earning rate of the fund has no bearing on the overall size of your benefit and your employer bears the investment risk. If returns are high the employer is not required to contribute as much to fund the benefit. However, if returns are low then the employer will have to contribute more to AvSuper.
Yes if you are an employee of Airservices Australia, but not if you are a CASA employee. Please refer to our guide for Defined Benefit Corporate (full) members for further information.
The salary used to determine your final average salary is always the full-time salary. Your part-time service will be reflected by a slow down in the growth of your multiple. For example, a full-time member might accrue 10% of FAS for each year of service. If that member worked part-time performing half the required hours for a year, they would accrue only 5% of FAS.
Taking leave on reduced pay has no effect on your FAS or your rate of benefit accrual.
Generally, you will continue to accrue the normal benefit for the first 12 weeks (84 days) of any period of leave without pay, and you will also have to continue any contributions you have chosen to make yourself. After 12 weeks you will cease to contribute and accrue benefits. If you do not want to personally contribute for the first 12 weeks simply complete a Change of Contributions form and submit it to your payroll area before the payday on which you want your contributions to cease.
Please note that changing your contribution rate may effect your eligibility for grandfathering provisions under the contribution cap rules. Please see our Understanding contribution limits for further information.
For periods of approved unpaid parental, study and sick leave you will continue to accrue benefits and be expected to pay any contributions you have chosen to make, unless you request otherwise.
No. In the defined benefit scheme the investment return has no impact on your end benefit. Your employer bears the investment risk.
If you also have an accumulation (voluntary) account with AvSuper, you may choose between seven options for the investment of this money and there is no fee for changing this choice! Information on the options and on investment choice are included in our Member Investment Choice (MIC) Guide.
If you don't make an investment choice your money will be invested in the Growth option.
Between 20 August 1996 and 30 June 2005, the Government applied a tax surcharge to employer contributions made for higher income earners.
As AvSuper paid the surcharge on defined benefit members' behalf, you may have a debt to the Fund. Interest is applied to this debt at the earning rate of the Fund's core portfolio, and the debt is fully recovered by AvSuper from your account balance when your benefit becomes payable.
Any outstanding surcharge amount is listed on your annual member statement.
You can clear your debt (in part or in full) using your accumulation account, if you have one. Simply write to us and tell us how much to withdraw from your account to cover the debt.
If you don't have an accumulation account and want to pay off your debt, please contact us to discuss how this can be arranged.
The administration costs for defined benefit members are met by the employer.
If you also have an accumulation account, you need to refer to the fees and charges section of the AvSuper Corporate Product Disclosure Statement.
Answers - Accumulation (Corporate and Publc Offer) Members
Your employer will make contributions generally based on the actual base salary you receive each pay period, including allowances. Your contributions are calculated by your employer and any queries you have, such as what allowances are actually included, should be referred to your pay office.
Your employer superannuation contributions are a percentage of your salary and recognised allowances you receive in a pay period. Therefore if you receive no pay you will not be entitled to any employer contributions or any salary sacrifice or after-tax contributions made via your employer. If you receive only part of your normal pay, you will receive only part of your normal contributions for that period.
Yes, you may choose between seven AvSuper investment options and you can spread your investments across the options if you wish. You can also choose to have your existing balance invested differently to your future contributions. You may vary your options weekly and there is no charge for doing so. A description of the options and some points for you to consider are included in the the Member Investment Choice (MIC) Guide . If you wish to exercise investment choice simply log into Member Online or complete the Nominate / switch investment options form and forward it to the address or fax number shown on the form.
If you don't make an investment choice your money will be invested in the Growth option by default.
There are fees for the administration and investment costs associated with your account. Some of these are deducted weekly from your account balance and others are taken into account in the calculation of unit prices. A full description of the fees payable, how they are applied and examples of this are included in the Fees and Charges section of the relevant Product Disclosure Statement.
If you have AvSuper insurance cover, premiums will also be deducted from your account each month - please refer to our insurance guide for details.