Welcome to our first Member Update for 2024.

Successor Fund Transfer (SFT) Update

As we draw closer to the SFT date of 1 May 2024 we continue to work with Australian Retirement Trust (ART) to ensure a smooth and successful transition.

We have planned a number of communications designed to outline the upcoming changes and what they mean for you. These are outlined below.

AvSuper webinar

Registrations are now open for our next webinar to be held on 21 March at 4pm.

This webinar will be dedicated to preparing you for the SFT. We will cover the investment options mapping process, changes in insurance and fees, as well as going through the timeline of the final weeks and providing information regarding any actions you may need to take prior to the SFT.

Significant Event Notice

Every member will soon receive a Significant Event Notice (SEN) regarding the upcoming SFT.

The Significant Event Notice will be sent to members between the 15th and 19th March 2024. There will be different versions of the SEN depending on your account type: Corporate (including Defined Benefit), Public Offer and Income Stream.

Your SEN will cover the following areas in detail, including:

  • Investment options: Your AvSuper account will be transferred to the ART investment option(s) that has been determined to be the most appropriate corresponding option in ART. The SEN will detail the investment options that are available to you at ART and which AvSuper options they have been mapped to.
  • Fees and costs: A comparison table will be provided, highlighting any changes in fees and costs, with additional explanation provided.
  • Insurance Cover: Insurance fee rates under ART differ from AvSuper’s insurance fee rates. Any changes applicable to insurance cover will vary according to your account type and these will be detailed in the SEN.
  • Additional information: this includes information about pension payments (where relevant), advice services, communication preferences, third party authorities and more.

AvSuper website

See our dedicated Merger Partner page for providing important information on the SFT and includes recently updated Frequently Asked Questions (FAQs).

We will continue to update this page with further developments as they occur.

Additional ART resources

ART has launched a microsite where you will find information about the transition as it becomes available. This will include FAQs, Transfer Guides and Product Disclosure Statements.

For general information about ART and the transition, contact ART on 1800 076 338 or via email at avsuper_transition@art.com.au

ART will also be hosting a series of webinars from 27 March 2024 to help you understand various aspects of the transition, including:

• Key benefits of membership in ART
• Key dates to be aware of and a checklist of actions you may wish, or need to consider
• Investment options available to you within ART
• Insurance changes and arrangements (if applicable)

You will receive an invitation from ART from mid March 2024.

Our commitment to you

We remain committed to your best interests and keeping you well informed of any developments that affect you. We encourage you to make use of the resources that are available to help you through this transition.

Questions

If you have any questions about any of the above, please contact us on 1300 128 751 or email us at avsinfo@avsuper.com.au