Welcome to AustralianSuper

On 1 February 2015 you became a member of AustralianSuper and your NTGPASS pension account transferred to an AustralianSuper Choice Income account.

In mid-February, we’ll send you a Welcome Kit. This will include your new member number, confirmation of your balance and other important information about your account. In the interim, the below provides some more information about the transfer and your new Choice Income account. 

The transfer process

The process to transfer your account takes a couple of steps. Your account is set up first and then your balance details are transferred after NTGPASS works out the final credit rate. This rate is needed to work out the value of your account including investment returns up to 31 January 2015. So there is a delay before your balance details can be transferred to us.

Your account balance has been invested while the transfer is happening. Although we don’t get your balance details straight away, we apply investment earnings to your balance from 1 February 2015.

So, that means since 1 February 2015, your account has been invested in the AustralianSuper investment options that most closely match your mix of investments in NTGPASS at 31 January 2015.

Accessing your account

You can access your account once you get your new member number – we’ll send it to you in your Welcome Kit in mid-February.

Although your AustralianSuper account has been set-up, there will be some restrictions on account activity until your balance is transferred:

Activity

Restrictions between 1 February and mid-February

Online account access

Online access to your account will be available once your balance is transferred.

To access your new account online you’ll need your new member number which will be included in your Welcome Kit in mid-February.

 

Investment choice

You won’t be able to change your AustralianSuper investment options online until mid-February. You’ll be able to lodge an investment choice form until online switching becomes available.

Lump sum withdrawals

Until mid-February, AustralianSuper may make cash payments that it determines are urgent and will lessen member hardship. In this period, payments may be only partially paid and you’ll be advised at the time if this is the case. The remainder will be paid after mid-February. Payments to other funds won’t be made during this time.

All other benefit processing will resume once the transfer of member balances from NTGPASS to AustralianSuper is complete.

About your income payments

Your regular income payments will continue to be made in line with your current choice of payment frequency, withdrawal method and bank account details. But, your payment dates may have changed slightly in line with your payment cycles:

NTGPASS

Choice Income

Semi-monthly

14th and 28th of each month

Fortnightly

20 February 2015 then every 14 days

Monthly

14th or 28th of each month

Monthly

15th or end of each month

Quarterly

14th or 28th of every 3rd month

Quarterly

15th or end of every 3rd month

Half-yearly

n/a

Half-yearly

15th or end of every 6th month

This is a new payment frequency available to you.

Annually

Anniversary of date set by NTGPASS

Annually

 

As well as having the new option to receive payments half-yearly, with Choice Income, you now have three different ways you can withdraw income from your account:

  • Pro-rata: take payments from each investment option in proportion to the balance in each option.
  • Payment order (Priority in NTGPASS): take payments in the order you choose. Income payments will be drawn from your first investment option until the balance reaches zero, and then your second option and so on.

  • Highest balance: take payments from the investment option with the highest balance first.

You’ll be able to change your payment frequency and payment method in your online account from mid-February.

About your online account

The best way to manage your Choice Income account is online. Your Welcome Kit we’re sending in mid-February will include information on how to set up your account.

With your online account, you’ll be able to:

  • update your personal details
  • check your balance
  • change your payment amount and frequency
  • download forms and publications.

Access expert advice

From 1 February 2015 you have access to over-the-phone and face-to-face advisers.

  • Speak to a financial planner* who can give you advice related to your account with AustralianSuper over-the-phone. Call 1300 300 273 Monday to Friday 8am – 8pm AEST/AEDT.
  • You can also meet with a financial planner in person. Find an adviser in your area.

Need help?

If you need help or have any questions, call us on 1300 789 932 8.00am to 8.00pm AEST/AEDT weekdays or email us on retirement@australiansuper.com

Want to know more about your Choice Income account and AustralianSuper? Read the Choice Income Product Disclosure Statement or visit our website.

*The financial advice you receive will be provided under the Australian Financial Services Licence held by third parties and not by AustralianSuper Pty Ltd (AustralianSuper) and therefore is not the responsibility of AustralianSuper. With your approval a fee maybe charged if a Statement of Advice is provided.