If you are changing employers, you may be wondering about your super. Unless you have reached your preservation age, you probably can’t take your super savings as cash and will need to keep them in a super fund. You are welcome to stay with AvSuper no matter who you work for or what industry you work in. However, changing employers may affect aspects of your membership depending on what type of AvSuper account you hold.
If you are leaving AirServices Australia or CASA employment…
When you leave Airservices Australia or CASA employment, your account balance will be moved to an accumulation-style AvSuper account. To make a different arrangement please notify us within 28 days of ceasing work – please refer to our ‘leaving Corporate employment’ fact sheet’ for more details.
If you have a defined benefit, your defined benefit is crystallised (effective the day after you cease Corporate employment) and moved to an accumulation account together with any accumulation account savings you may have. Any super surcharge debt is deducted at this time.
If you are leaving any other employer…
Your AvSuper account is not directly affected by your change in employer.
Moving forward – you can still choose AvSuper as your default super fund
1. Making contributions
With an AvSuper accumulation account, you can build your savings with personal (after tax), salary sacrifice and employer contributions, roll overs from other funds and Government co-contributions. Simply give your new employer a Standard Choice Form detailing your AvSuper account so your future employer contributions can be forwarded to your account (you can even email this pre-completed form to your employer from within AOL!). The employer will also require the information on our letter of compliance, which is included on our standard choice form (both available on our website). If you are not eligible for Superannuation Choice or are not working for a while, you can keep your AvSuper account open as long as you maintain a $1,200 minimum balance.
You will keep the same level of AvSuper insurance cover when you change employers. However, if you are leaving AirServices Australia or CASA, your Corporate cover will be converted to an equivalent amount of cover on a unitised basis. Please note your premiums may change.
3. Member investment choice
All AvSuper accumulation members can choose from the nine AvSuper investment options for their current and future contributions. There is no charge to change (or switch) your investment choice at any time. Your money will be invested in the Growth (MySuper) Option if you do not make a choice. If your money is transferred from a Corporate accumulation account, any previous investment choice will apply.
4. Member benefits
Other member benefits, such as online access to your account and access to personalised advice are available to all members regardless of employer or employment status.
If you are leaving your employer to retire, into either full or gradual retirement, you can leave your money in your accumulation account or you can purchase an AvSuper income stream (see our website or contact us for full details.) It all depends on what suits you!
Email: email@example.com | Local call: 1300 128 751 | Phone: 02 6109 6888 | www.avsuper.com.au
This information is of a general nature only and does not take into account your personal objectives, situation or needs. Before making a decision about AvSuper, you should consider your own requirements and the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD). For a copy call us or visit the AvSuper website, www.avsuper.com.au. AvSuper Pty Ltd (ABN 46 050 431 797, AFSL 239078) is the Trustee of the AvSuper Fund (ABN 84 421 446 069). FS3000.5 02.2021