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 have written 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 September, the task of transferring data will be undertaken during the period of September to November 2008. This is a complex task and as a result there will be some service disruption:
- Online account access will be temporarily unavailable
- Investment switching will only be available by completing and faxing/mailing a form.
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
Transition timeline
As detailed in the Transition Timeline below, there will be a period from 27 August 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.
Current access to MemberOnline
Your online access with the current administrator will cease. |
Midnight Sunday 24 August 2008 |
Member Investment Choice Switches
The current administrator will cease processing member investment choice switches. Only paper-based switch requests received by 5:00pm Friday 22 August and online by midnight Sunday 24 August will be processed. Any switches received after these dates will be forwarded and processed by the new administrator.
Note: if you are a Defined Benefit member, online switching does not apply to you. |
27 August 2008 |
Benefit Payments
The current administrator will cease processing benefit payments from 22 August. Any benefit payment requests or outstanding information received after 15 August will be forwarded and processed by the new administrator after you membership account is created and benefit entitlements transferred.
The current administrator will attempt to process benefit payment requests between 15 August and 22 August before your account is prepared to be transferred, however there are no guarantees. We therefore encourage you to request any payments as soon as possible. |
22 August 2008 |
Transfer of your account information and benefit entitlements
The current administrator will forward your membership account information and benefit entitlements to the new administrator. |
Mid September 2008 |
Creation of membership account
The new administrator will establish a new membership account in your name. |
October 2008 |
Allocation of your benefit entitlements
The new administrator will allocate your benefit entitlements (i.e. insurance and assets) to your new membership account. |
November 2008 |
Welcome Pack
The new administrator will send you a Welcome Pack and new membership card. |
November 2008 |
Transfer of your account information and benefit entitlements
The new administrator will send you new online access and PIN information.
Due to privacy requirements, we are unable to transfer your existing online password (if registered) to the new administrator. |
Approximately 2 weeks after your Welcome Pack is issued. |