Welcome to our May Member Update.

We are committed to keeping you informed on all changes and developments that affect you.

We were very pleased to see many in attendance at our February webinar on the proposed merger with Australian Retirement Trust (ART) – it is always encouraging to witness the interest and engagement from our members.

Watch our latest webinar for an update on the merger progress and a periodic investment update.

Additional questions asked at the webinar

Hi Jonathan, we are still working through the details of where our options will be mapped, but it will be to the ART former Sunsuper options from the ATO site rather than the old QSuper options.  More information will be provided as we go forward.

Hi Stewart, we are still working through the details of the transition, however the expectation is that much of the information attached to your account will be able to be transferred.  

Hi Christine, ART is self-administered. We are looking at the system as part of due diligence

Hi Glen, we are still working through details as part of the planning.  We expect there will be some form of limited service period, but the length of that is to be determined. One of the reasons for this is that we need to calculate a final unit price to ensure that balances are transferred across to ART accurately and equitably for our members. We’ll provide plenty of notice in the lead up to any transition, and it will be a key focus of our communication and run sheet for members on a cut over.

Hi Christine, ART do have an online chat function which operates on slightly longer hours than AvChat at the moment.

We wish to reassure you that in this transition phase, it’s business as usual for us and our priority as always, is to deliver better outcomes to you.

Merger with ART update

The merger progress is in line with expectations. Due diligence is currently being undertaken by both parties and we look forward to bringing you a more detailed update on this and next steps at the webinar. Register now

Investment update

After a tumultuous 2022 for investors, there are some indications in the first quarter of 2023 that inflation is nearing its peak. In the upcoming webinar, we will discuss what this might mean for your investments in the coming months.

For further investment information please read our latest monthly update.

Defined Benefit Surplus Repatriation

In December 2022 we advised you that in accordance with the provisions of the Fund’s Trust Deed, the Principal Employer (Airservices Australia) had requested the Trustee repatriate any excess surplus amount above a level of 120% of Defined Benefit (DB) liabilities. After reviewing the initial actuarial certificate and considering members interests the Trustee resolved to make a payment to the Principal Employer at least three months from the December member notice, therefore not before March 2023.

Importantly, the amount of the payment was subject to a second actuarial investigation prior to the payment date, to capture updated information in the nine months since the balance date. The final payment has now been made.

For full details click here

Accepting electronic signatures and digital identity verification via DocuSign

AvSuper is now accepting electronic signatures on our forms. We recently updated our forms to include an editable field to allow for electronic signatures.

In addition, we have engaged DocuSign to trial the use of digital identity verification on a selection of our forms where certified ID was previously required.

Speak to a Member Services Consultant for more details.

Multi-factor authentication introduced on AOL login

AvSuper is committed to protecting the privacy of your personal information.  In June, we will be implementing multi-factor authentication (MFA) on login to AOL. MFA provides increased security on your account by requiring users to enter a one-time pin (received by registered mobile or email), making it more difficult for unauthorised users to gain access.

Rainmaker AAA Quality Rating

AvSuper has again been awarded Rainmaker’s AAA Quality Rating for Corporate, Public Offer and Retirement Income Products.

Rainmaker’s AAA Quality Rating evaluates superannuation products on performance, costs, insurance, organisational strength, and additional services like financial planning. Of the 149 funds that were evaluated, 56 funds received this rating.