AustralianSuper has appointed Mercer as the specialist corporate superannuation administrator for AustralianSuper Corporate members. Mercer have extensive experience in this area with a strong reputation for service excellence and many years of experience in the administration of complex corporate funds.
What does a new administrator mean to AustralianSuper Corporate members?
From 1 June 2008 AustralianSuper Corporate will have a new administrator. AustralianSuper has always outsourced administration and call centre services to external providers. This change to a new administrator means that the management of member accounts, including the allocation of contributions, payment of benefits, distribution of Member Statements and call centre services, will be handled by a new provider.
The transition of administration services to Mercer will provide the following benefits to you:
- Proven experience in the administration of corporate plans
- Staff with an intimate understanding of your Employer Plan
- Experienced call centre staff
- Access to limited financial advice via the call centre
- Online account access
The ASX 200 Investment Option will not be available to corporate members. Members currently with ASX 200 holdings can maintain these; however this must be done via a separate account within AustralianSuper Personal. If you are a member with ASX 200 Option holdings, we will write to you separately with detailed information about this change.
You do not need to do anything as the transfer will occur automatically. As this is purely a data transfer, there will be no change to your investments during this time. Your current investment strategy will be maintained and there will be no time out of the market.
Service disruption
If you are part of the group transferring in June, the task of transferring data will be undertaken during the period of June and July 2008. This is a complex task and as a result there will be some service disruption for some corporate members as follows:
- Online account access will be temporarily unavailable
- Investment switching will only be available by completing and faxing/mailing a form
- Crediting rate information will only be available from the call centre.
A letter detailing the process and impact of this transfer to a new administrator has already been mailed to you. If you did not receive this letter please call 1300 309 466.
You can download a form for Member Investment Switching here. Please fax to 03 8640 0800 or mail to:
GPO Box 4303
Melbourne VIC 3001
If you are part of the group transferring in September 2008 (Corporate Tailored members), a letter detailing the process and impact will be sent in late July 2008.
Crediting rates
If you are a Corporate Solutions member (you will have received a letter already) the crediting rates applicable to your account will be available on the new Corporate website (coming in August 2008). Until this time, if you would like to be informed of the latest crediting rates related to your superannuation account please call 1300 309 466.
If you are part of the group transferring in September 2008 (Corporate Tailored members) you can obtain the latest crediting rates by calling 1300 735 636.
Transition timeline
The transition of Corporate Solution members will take place on 1 June 2008. As detailed in the Transition Timeline below, there will be a period from 1 June 2008 where you will not have online access to your account. Paper-based investment switches will be accepted during this period, and the call centre will be able to address any issues during this brief period.
Your membership number will remain the same.
The following timeline relates to Corporate Solution members. If you are unsure if you are a Corporate Solutions member please call 1300 309 466.
Current access to MemberOnline
Your online access with the current administrator (Superpartners) ceases. If you have an account query after this period please call 1300 309 466. |
Midnight Sunday 25 May 2008 |
Rollup and transfer of your benefit
The current Administrator (Superpartners) will calculate your benefit at 31 May 2008 (including interest) and will transfer your benefits to the new administrator (Mercer). A letter will be mailed with your transfer statement in July. This will confirm your account balance at 31 May 2008. |
30 June 2008 |
Allocation of transferred amount to your new account
The new Administrator (Mercer) will allocate transferred funds to your new Corporate Solutions membership account. |
Early July 2008 |
Corporate Solutions Welcome Pack
The new Administrator (Mercer) will send you a Corporate Solutions Welcome Pack including a new membership card and member online access information.
Due to privacy requirements, we are unable to transfer your existing online password (if registered) to the new administrator. |
End July 2008 |