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Author: AustralianSuper


The Federal Government is taking an increasingly active approach to superannuation. This can be seen in the many changes to superannuation legislation that were proposed in the 2006/07 Federal Budget. Legislation to give effect to these changes is expected to be presented to Federal Parliament in the next few months. They demonstrate the Government’s interest in helping workers to maximise their superannuation withdrawal benefit. Some of the key proposals are outlined below.

Superannuation tax cuts

Superannuation benefits, paid either as a lump sum or as a pension, will be completely tax free for people aged 60 and over (unless paid from untaxed sources as is the case with some government superannuation schemes). For those under age 60, benefits will still be taxable, but on a simpler basis than the current rules. Reasonable Benefit Limits (RBLs) will be abolished for all members.


Accessing your super

Previously, anyone who had reached 65 and was no longer working had to withdraw their superannuation benefit. Under the new rules you will be able to leave your money in super for as long as you want, as the age restrictions will be removed. You will be allowed to take your benefit as a regular income stream or leave it in super and draw down on it when you need or want it.

The rules for when you can access your superannuation won’t change that is, you will still be able to access your superannuation once you reach preservation age and have retired, and from age 65 even if you have not retired.


Providing your tax file number


One of the key outcomes of this year’s Federal Budget is the need for all members to disclose their TFN to their superannuation fund. It will not be a legal requirement, however failing to do so, pending the passing of the legislation, will result in more severe consequences.

Any employer and salary sacrifice contributions over $1,000 will be subject to the highest tax rate; and your super fund will not be able to accept any after-tax voluntary contributions that you make to your super.

There will be a period of adjustment to allow individuals time to update their superannuation fund with their TFN, however you should attend to it now so you don’t get caught out. Log on to your online account or view your most recent statement to check whether we’ve got your TFN on file. If not, you can advise your TFN in MemberOnline or by calling us on 1300 300 273

Author: AustralianSuper

Members investing in the ARF Balanced Investment Option and the STA Balanced Plan, have had their superannuation savings boosted following further strong investment returns in 2005/06. Superannuation funds generally achieved solid returns last year but ARF’s and STA’s results were significantly better than the median return of comparable funds, estimated at 14.2% in the SuperRatings survey.

The two Funds not only outperformed the benchmark but both finished in the top five performing super funds for their Balanced portfolios*. The ARF Balanced Investment Option returned 17% while the STA Balanced Plan returned 18.1%.

And it wasn’t just the Balanced portfolios that exceeded expectations. The ARF Active Investment Option achieved 18.84% and the STA Shares Plus option returned 21.22% against a benchmark of 17%^. Even the ARF Stable Investment Option and the STA Low Risk option achieved above-average returns for their class, delivering 8.49% and 9.53% respectively.

These final returns for ARF and STA are good news for AustralianSuper members, suggesting that the merger will bring together a wealth of experience in administering high-performing and diverse investment portfolios. And with the combination of low fees, these above-average returns also mean more in members’ accounts.


Guiding help

1. Findng superannuation can be extremely diffucult, however a search at the ATO site or contact them directly can easy the pain of searching furthermore - 13 28 65. Note: A Tax File Number will be needed to complete the search.

2. Ausfund - Australia’s Unclaimed Super Fund: is committed to re-uniting members with their lost superannuation.

3. ASIC can provide you with all areas of searching. NSW - The Public Trustee of NSW - Unclaimed Monies Search
QLD - The Public Trustee of QLD - Unclaimed Monies Search. VIC - The State Trustees of Victoria - Unclaimed Monies Search. SA - The Department of Treasury & Finance South Australia. WA - The Public Trustee of Western Australia - Unclaimed Monies Search
ACT - The Public Trustee of Australian Capital Territory - Unclaimed Monies Search. TAS - The Public Trustee of Tasmania - Unclaimed Monies Search. ASIC - Australian Securities and Investments Commission ASIC Unclaimed Monies Search

Search any Industry Super Funds that you used to work for: ie like the table above.

4. Previous Employers could be the anwer: You will need to contact any of your previous employers and ask them which superannuation fund they contributed your monies into.


Australian Taxation Office Superannuation Helpline 131 020 or visit www.ato.gov.au/super

Superannuation Complaints Tribunal 131 434

Department of Employment, Workplace Relations and Small business 1300 363 264

Association of Superannuation Funds of Australia at www.superannuation.asn.au

Top 10 super fund returns for year-ended Oct 08 - PRESENT 2011 CAPTURE

Fund Option Result (%)
Vision SuperSaver Balanced Growth -1.70

PSSap Trustee Choice -2.07

MTAA Super Balanced -2.14

AUSCOAL Super Balanced -2.37

OSF Super Mix 70 - 2.73

Hostplus Balanced -3.50

Agest Balanced -3.59

Buss(Q) Balanced Growth -3.60

QSuper Balanced -3.61

Rest Core Strategy -4.03

SUPER FUND RETURNS

Top ten
Vision SS balanced +1.26

C'wealth OSF Super mix70 +0.96

PSS Trustee choice +0.95

HOSTPLUS balanced +0.55

MTAA Super - balanced +0.41

AUSCOAL Super - balanced -0.17

AGEST balanced -0.41

REST - core strategy -0.46

QSuper - balanced -0.61

BussQ - balanced growth -0.75

Bottom ten
Legg Mason corp m'trust balanced -10.76

BT Lifetime Super multi balanced -8.72

REI Super - balanced -6.64

Combined fund - balanced -6.47

BT Super - Westpac balanced -6.38

Asset Super Medium Growth -6.37

ANZ/ING corp - managed growth -6.30

Asgard emp super SMA balanced -5.03

ING Integra balanced -4.49

Colonial First State - moderate -4.30

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