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.
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
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.