MySuper will make super simpler
MySuper is one of a range of reforms to superannuation – aimed at making super simpler and more efficient. As part of the changes, many super funds now offer a new type of super product called MySuper. MySuper products are designed to be simple, cost-effective and easy to understand and compare.
Where a person has not provided the trustee of their super fund with a written direction to invest their super contributions in a specified investment option, the person’s super contributions will be paid into a MySuper product from 1 January 2014.
At Suncorp, we’ve developed a new MySuper product which is available to our customers. It is easy to understand, with competitive fees and no commissions. It offers a minimum level of insurance cover and a Lifestage approach to investing. This means we’ll invest a customer’s super in a range of investments, based on their age.
If you’re a Suncorp super customer and you haven’t previously told us how you’d like your super invested, from 1 January 2014 your super contributions will be directed to a MySuper account.
If the changes affect you, in November we sent you an information pack which explained what was happening, what you need to consider and what you may need to do.
If you need more information, visit www.suncorp.com.au/mysuper. You can also speak with your financial adviser, or just give us a call on 13 11 55. We’ll be happy to help.
This information is current as at 9 September 2013 and may be subject to change.