Investments Frequently Asked Questions
When you meet with a Suncorp Financial Planner, they will help you establish your current financial situation and future goals.
They can then customise and implement a plan to help meet those goals.
The first appointment with a Suncorp Financial Planner, where you'll discuss your current financial situation and financial goals, is free of cost and obligation.
No. There’s a misconception that you need to be wealthy to have a financial planner, but access to financial advice can be quite affordable.
We'll let you know if you need any specific documents when you arrange an appointment, but some of the things we're likely to discuss in your first appointment include:
- your income, debts and investments, including superannuation;
- your current level of insurance;
- the expectations you have for your financial situation and lifestyle in retirement
- any questions you have.
The amount of insurance you need will depend on things like your level of debt (e.g. mortgage), number of dependents (e.g. spouse and children), and future lifestyle goals.
A Suncorp Financial Planner can help you understand how much you'll need to protect yourself and your family.
Speak to your Suncorp Financial Planner to find out about the options available and to get a quote.
They will assess your personal situation, and if you decide to go ahead, your planner will be able to assist you in implementing the recommendations that suit your personal situation.
Total and permanent disability insurance (TPD) provides a lump sum if you suffer from an illness or injury that leaves you totally and permanently disabled.
Income protection insurance pays a monthly amount (usually up to 75% of your income) while you are unable to earn an income as a result of illness or injury.
Children's recovery insurance (or child cover) provides you with a lump sum payment should your child suffer one of a list of specified medical conditions or procedures.
Trauma insurance provides you with a lump sum on the diagnosis (or occurrence) of one of a list of specified serious medical conditions and procedures.
Salary sacrifice is the portion of pre-tax salary that an employee gives up in exchange for the employer making additional super contributions on their behalf.
Concessional contributions are contributions made by your employer or that you make with 'before-tax' dollars, like salary sacrificing.
Non-concessional contributions include spouse contributions and contributions you make from 'after-tax' dollars.
A quality super fund will usually offer competitive fees, an appropriate range of investment options, sound management, and other features and benefits.
Of course, the choice you make should always be based on your personal circumstances. A Suncorp Financial Planner can help you decide on a fund that best suits your needs.
Switching is the transfer of your money from one investment option to the other.
Any amounts switched will be shown on your statement.
If you die while a member of a super fund, the value of your accumulated benefit (and any life insurance) will usually be paid to the person you choose as your beneficiary, like your spouse or child.
There are usually three ways to nominate a beneficiary:
- A binding nomination
- A binding non-lapsing nomination
- A non-binding nomination.
For more information or to nominate a beneficiary, please contact us.
You can contribute to your Suncorp super account in several ways including BPAY, cheques or branch deposits.
Once you've reached preservation age (currently 56 if born between 1 July 1960 and 30 June 1961), you can access your super as a ‘transition to retirement’ (TTR) pension. The benefits of a TTR pension are:
- You can ease into retirement by reducing your working hours without reducing your net income.
- You can boost your retirement savings without impacting your net income if you are still working full time.
The Age Pension is an income support payment paid by the Government to ensure you have a minimum level of income in your retirement.
Quarterly payment cut-off dates:
Quarter One; 1 July - 30 September 28 October
Quarter Two; 1 October - 31 December 28 January
Quarter Three; 1 January - 31 March 28 April
Quarter Four; 1 April - 30 June 28 July
If we agree to end your term deposit prior to the maturity date:
- You’ll won’t have access to the funds until after 31 days from the date we agree to your request (unless grounds of hardship exist).
- You’ll lose a portion of the interest earned on your investment, calculated up to the date your Term Deposit is broken. The amount of interest you will lose will depend on how early in the investment term you seek to withdraw your funds.
- You’ll be charged a $30 early withdrawal administration fee.
We’ll notify you about 3 weeks before your term deposit ends.
We'll provide you with information regarding your options and then ask you to provide us with your instructions on what you would like us to do with your funds.
The date when the investment term of your fixed term deposit ends.