Telstra Super Pty Ltd ABN 86 007 422 522 movingforward October 2013 Telstra Super Pty Ltd ABN 86 007 422 522 OCTOBER 2013 VOLUME 17 ISSUE 1 IN THIS ISSUE: Introducing Direct Access + Super under the new Federal Government + Everything you need to know about MySuper + Clean out your glove box Gear up for greater control
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Telstra Super Pty Ltd ABN 86 007 422 522
movingforward October 2013
Telstra Super Pty Ltd ABN 86 007 422 522 OCTOBER 2013 VOLUME 17 ISSUE 1
The election of Tony Abbott’s Liberal/National coalition in this year’s federal poll will see many changes take place in a number of policy areas, and we expect some to have an impact on the superannuation system.
Most car owners will tell you their glove box has a collection of loose coins gathering dust, probably beneath a wad of papers and food wrappers. Similarly, most of us have super accounts all over the place too, but it’s time to clean up!
Direct Access to SharesTheopportunitytotakegreatercontrolofhowyourretirementsavingsareinvestedinthesharemarketisanattractiveproposition,especiallyforthosememberswhoareequippedwithhighlevelsofinvestmentknowledge.
their investment decisions, Direct Access offers eligible accumulation members the ability to choose from a range of term deposit options and to invest in companies on the ASX300 through real time, online trading access.
A facility for members in the pension phase will follow.
Telstra Super is proud to introduce the latest addition to our range of investment options – ‘Direct Access’.
Designed to meet the needs of members who wish to take greater control over
Find out moreTofindoutmoreaboutDirectAccessandseewhetherournewestinvestmentoptionmaysuityourlong-terminvestmentstrategy,visit www.telstrasuper.com.au/directaccess
Who can invest in Direct Access?ToregisterforaDirectAccessaccount,youmustholdaminimumTelstraSuperaccountbalanceof$60,000:
Making the right choice for youWheneveryou’rethinkingaboutanytypeofinvestmentswitch,whetherintoDirectAccessoracrossourrangeofexistingoptions,it’simportanttoconsiderhowthisfitsinwithyourlong-terminvestmentstrategy.
Stronger Super is the name given to the Gillard government’s package of super reforms, aimed at making the superannuation system simpler and more efficient. As part of Stronger Super, the government has introduced a new, default super product called MySuper. MySuper replaces existing default products and funds who wish to continue to receive default contributions must offer a MySuper product from 1 January 2014. Telstra Super will be offering a MySuper arrangement to new members from 30 November 2013, while existing members who meet certain criteria will have their balance transferred to MySuper next year, unless they opt out.
MySuper features and benefitsMySuperisintendedtoprovideasimple,transparentproductwhichmembersandemployerscaneasilycompareusingasetofstandardisedfeatures.Italsoaimstomaximisethebalancesofmemberswhodon’tmakeaninvestmentchoicefortheirsuper.
Telstra Super members affected by MySuperMySuperwillaffectbothnewandexistingmembersofTelstraSuper:
Existing membersExistingmembersofTelstra Super Corporate Plus, Telstra Super Personal Plus, Telstra Super CasualsandSensis Super Plus-Accumulationwhohaven’tmadeaninvestmentchoiceorwhohavechosentoinvesttheirfullbalanceinthecurrentdefaultinvestmentoptionfortheirage(asshowninthetableabove)willautomaticallyhavetheirbalancetransferredtoMySuper,unlesstheychoosetooptout.TransactioncostsdonotapplytotheMySupertransfer.
New membersNewmembersjoiningTelstraSuperwhodon’tmakeaninvestmentchoicewillautomaticallybeplacedinTelstraSuper’sMySuperarrangement.Likeallmembers,theycanelectaninvestmentchoiceatanytime.
More for youTelstraSupercontinuestooffermembersawiderangeofinvestmentchoices,includingourlatestinvestmentoption,DirectAccess,whichenablesmemberstoinvestinASX300listedsharesandtermdeposits.WelookforwardtobringingmemberstheTelstraSuperMySuperarrangementwhichwillcomplementourexistingoffering.
New investment risk measuresTohelpyoumakeamoreinformeddecisionregardinginvestmentrisk,youcannowseehowourrangeofinvestmentoptionsalignswiththeAssociationofSuperannuationFundsofAustralia/FinancialServicesCouncilStandardRiskMeasure(SRM)framework.TheSRMincludessevencategories,eachwithitsownrisklabel(rangingfrom‘verylow’to‘veryhigh’)andriskband.Theseriskbandsprovideanestimateofthenumberofnegativeannualreturnsthatmayoccuroverany20yearperiod.
The past twelve months has seen a number of legislative changes introduced within the super industry. We thought we’d take the chance to highlight two changes that may be of interest to you.