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17 August 2021 Dear {member}, Just as aviation is going through a period of upheaval, so is superannuation. The latest change is “Your Future Your Super” (YFYS), which came into effect last month.
YFYS includes
several new requirements, including ‘stapling’, where
your super stays with you as you move jobs, and a new
performance test for MySuper products. Both changes are
expected to significantly alter the superannuation
landscape in Australia, and we will keep you abreast of
developments as they happen in the coming months. Staying in close contact with our members has always been a core part of our service and that’s never been more important than now. If you have any questions about the new rules or would like to get personal advice from one of our qualified financial planners, please get in touch. We look forward to continuing to be of service. Kind regards,
Michael
Sykes, |
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1. Investment update
It has been an exceptional year for equities. This has been reflected in AvSuper’s Growth (MySuper) Option which has returned 20.6% for the year. This is the highest one-year return in AvSuper’s 30-year history. Read more here. 2. Did you make any personal contributions in FY2021? If you made personal (after tax) contributions in FY2021, you may be eligible to claim a tax deduction for some or all of them. You must tell us about your intent to make a claim before submitting your tax return. You can find out about eligibility and related rules here. 3. Changes to contribution rules New legislation passed in June is making it easier for you to build your super. The 'bring forward' arrangements for concessional contributions now applies to 65 and 66 year olds as well as younger members. You can also make a downsizer contribution (from the proceeds of selling your home) from age 60 (previously 65). 4. COVID drawdown rules If you have an Income Stream Account, you can choose to take only 50% of your minimum annual payment for FY2022 if you prefer. Please let us know if you want to take up this option. 5. Financial advice Whether you are looking at early retirement or have passed an official retirement age, you are welcome to discuss your options with one of our qualified financial planners. Appointments can be face-to-face or via phone or an online platform. 6. Do we have your correct contact details? Your annual statement will be mailed soon. If your contact details have changed recently (or are about to change), please make sure you let us know – log into AvSuper Online (AOL) at any time or reply to this update. 7. AvSuper Online AOL gives you 24-hour access to your account so you can view and edit your personal details and investment choices, as well as review your transaction history and insurance arrangements. And if you make a mistake entering your password and get locked out of AOL, just wait 20 minutes and try again. 8. Making contributions The easiest way to make additional contributions is to log into AOL and get your personalised BPAY reference number. Make your contribution using BPAY and you’re done. No forms required. Or if you prefer to deposit money into AvSuper directly, please note we have a new bank account:
Commonwealth Bank of Australia (CBA) If you deposit money directly, you will also need to complete our online contributions form, so we can allocate the money to your AvSuper account. |
Contact us
p. 1300 128 751 e. avsinfo@avsuper.com.au web. www.avsuper.com.au
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privacy notice and the relevant Product Disclosure Statement (PDS). For a copy call us or download one from www.avsuper.com.au. AvSuper Pty Ltd (ABN 46 050 431 797, AFSL 239078) is the Trustee of the is the Trustee of the AvSuper Fund (ABN 84 421 446 069).