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- Account balance
- Account type
- Accumulation account rebalancing
- Asset class / Asset mix
- Beneficiary
- Changing jobs
- Concessional contributions
- Contributions
- Dates
- Fees and costs
- Insurance
- Lifecycle Investment Strategy
- Net investment earnings
- Pension payment details
- Income account rebalancing
- Income account top ups
- Preservation components
- Super Savings
- Super Savings – Business
- Australian Retirement Trust Corporate
- Tax
- Transfers and roll-ins from other funds
- Unit prices
- Withdrawals and roll-outs to other funds
Account balance
Account balance
Your account balance is calculated by multiplying the number of units you have in each investment option by the unit price for each option. As the unit prices are calculated on a daily basis, the value of your account may change daily.
Account type
Account type
If you are in the Super Savings product you’ll have access to both an Accumulation account to help save for your future and an Income account for when you are transitioning to retirement or when you have retired.
If you are in the Super Savings – Corporate product, you’ll have access to both an Accumulation account to help save for your future and an Income account for when you are transitioning to retirement or when you have retired. The account name that will appear in Member Online will be your Corporate plan name.
Accumulation account rebalancing
Accumulation account rebalance option
Over time your investment allocation and risk level may shift from your preferences because of market movements or transactions on your account.
You can ask us to regularly switch your investments to maintain your preferred investment strategy and level of risk. We call this rebalancing.
This is how it works
1. You can choose rebalancing when you switch investments and select 2 or more investment options.
2. You can tell us when to rebalance your investments either:
- every 6 months on 31* March and 30* September or
- every 12 months on 31* March
3. You can cancel or change your rebalancing settings at any time.
4. You can't choose rebalancing if you invest any of your balance in the Lifecycle Investment Strategy.
*Or on the next business day after this date if it falls on a weekend or national public holiday.
If you make an investment switch in the future, you'll need to choose how often you'd like your account to be rebalanced again (if at all). You may need to seek financial advice to help you manage your investment strategy and make sure you have the right asset mix for you.
Asset class / Asset mix
Asset class / Asset mix
Each investment option offered by Australian Retirement Trust invests in one or more asset classes. Some examples of asset classes include shares, property, fixed income and cash.
Beneficiary
Beneficiaries
In the unfortunate event of your death, the Australian Retirement Trust Trustee is required to pay your death benefit to your beneficiaries or where there is no eligible beneficiaries, any person who has a fair claim.
There are different types of beneficiaries that Australian Retirement Trust members can nominate:
Beneficiary type
There are two types of beneficiaries you can nominate during your membership: Preferred and Binding. If you open an Income account or restart an existing Income account, you also have the option to nominate a Reversionary beneficiary.
Binding beneficiary
A binding death benefit nomination ‘binds’ the Trustee to pay your death benefit to the nominated beneficiaries.
Preferred beneficiary
If you nominate a preferred beneficiary the Trustee will use this as a guide in deciding how to pay your death benefit.
Reversionary beneficiary
A reversionary beneficiary will continue to receive your income payments if you die. You can only nominate your spouse or your de facto as a reversionary beneficiary. You cannot nominate your legal personal representative. Only Australian Retirement Trust members with an Income account are eligible to nominate a reversionary beneficiary.
Changing jobs
Changing jobs
When you start a new job, you can take Australian Retirement Trust with you. In most cases, you don’t have to go along with the super fund that your employer has picked for you – even though it may seem that way. You have the right to choose.
Concessional contributions
Concessional contributions
Concessional contributions or 'before-tax' contributions are super contributions that come out of your before-tax pay. Concessional contributions include all employer contributions (including salary sacrifice), as well as self-employed or personal contributions for which you claim an income tax deduction.
Concessional contributions - Annual cap
The maximum amount of concessional contributions you can make to super in a year that will benefit from concessional tax treatment is capped.
Any concessional contributions you make over the cap are included in your taxable income and taxed at your marginal tax rate, with an additional excess concessional contributions charge. For more information on concessional contributions, you can visit our Super Contributions cap page.
Contributions
Employer compulsory
The Superannuation Guarantee or SG is the minimum amount employers are required to pay into their eligible employees’ super accounts. Currently, SG is 11.5% of an eligible employee’s ordinary time earnings and must be paid at least four times a year by quarterly due dates into a complying super fund that the employee chooses, or, if they don’t choose, that the employer chooses. An employer generally needs to pay SG for an employee unless that employee is under 18 or considered a domestic or private worker and not working more than 30 hours per week. SG is governed by the Superannuation Guarantee (Administration) Act 1992, which outlines the administrative arrangements of the compulsory superannuation system, including employers’ liabilities, eligible super funds and penalties for employers who do not pay super for their employees.
Government co-contributions
If you pay your own money into super and your salary is below a certain limit, you can receive a free top up to your super from the Federal Government. If you are eligible for a co-contribution simply make a voluntary after-tax contribution to your super account and the Government will add the co-contribution to your account after you lodge your tax return.
Low Income Superannuation Tax Offset (LISTO)
If your income is $37,000 or less the Government could boost your super savings by giving you a low income super contribution. If you're eligible the LISTO is paid directly to your super fund.
This scheme replaces the Low Income Superannuation Contribution (LISC).
Salary sacrifice
You may be able to arrange with your employer to have part of your before-tax salary paid straight into your super. This can provide tax advantages for some people. If your employer doesn’t allow salary sacrifice, you may be able to make a voluntary after-tax contribution then claim a tax deduction. Caps apply to the amount you can contribute to super.
Voluntary
Are also known as after-tax or non-concessional contributions. If you make a voluntary contribution and are eligible for the Government co-contribution, it will be paid into your account after you lodge your tax return. You can also choose to claim a tax deduction for voluntary contributions, though you would not be eligible for the co-contribution on amounts for which a deduction was claimed.
Dates
Up To Date
This date reflects the latest date which Australian Retirement Trust has posted the specified transaction activity for your account within the selected financial year.
Fees and costs
Administration fees and costs
Australian Retirement Trust charges administration fees and costs to manage your account.
Our administration fees and costs comprise three components:
- a flat fee deducted from your account balance that applies irrespective of your account balance;
- a percentage fee deducted from your account balance; and
- a percentage-based cost that is not deducted from your account balance as it is paid from the Australian Retirement Trust general reserve.
For Super Savings Accumulation accounts, the administration fees and costs are generally deducted from your account balance weekly.
For Super Savings Retirement income accounts, the dollar based administration fee of $1.20 is generally deducted from your account balance weekly. The percentage administration fee of 0.10% p.a. is generally deducted from your account balance monthly. The percentage administration cost of 0.07% p.a. is not deducted from your account but is deducted from the Fund's general reserve.
Check the Product Disclosure Statement for more information.
Investment fees and costs
Australian Retirement Trust charges investment fees and costs to cover the costs of investing and managing your investments. Investment fees and costs are deducted daily from the investment option prior to the calculation of daily unit prices. Please check your Product Disclosure Statement for more information.
Advice fee
If you receive personal advice from our financial planners, the cost of advice about your account is included in your membership.1
If you receive advice from an approved external planner, you may be charged a fee. If an external financial adviser charges a fee about your Australian Retirement Trust account, you can instruct them to pay the advice fee from your account. This fee varies depending on the type of advice, but you will be told the fee before you receive the advice. If you receive advice about your Australian Retirement Trust account, the fee may even be deducted from your account balance.
Fees and costs
Fees and other costs may be deducted from your account, from the returns on your investment, or from the fund assets as a whole. Check the Fees and other costs sections of your Product Disclosure Statement for more information.
Insurance
Benefit exclusion
The insurer may specify a benefit exclusion that will apply if a claim for additional insurance on your Super Savings account is related to a specified condition or pastime. This means the insurer will not pay an additional insurance benefit if a claim relates to any specified exclusion.
Benefit Period
Benefit Period means the maximum period of time for which benefits will be paid for any one period of Total Disability, Limited Total Disability or one period of Total and Partial Disability.
Death cover
If you die or become terminally ill, you or your dependents or beneficiaries may receive a lump sum, helping them to pay any debts or bills and provide ongoing income.
Income Protection cover
Provides an income while you are unable to work due to illness or injury to help you pay your expenses while you focus on your health and recovery.
Insurance
Australian Retirement Trust provides access to flexible Death, Total & Permanent Disability and Income Protection insurance to keep you protected 24 hours a day, 7 days a week if something unfortunate were to happen to you. You have the flexibility to make sure your cover is right for you. Australian Retirement Trust offers easy ways for you to change your cover, apply for cover or cancel your cover.
Insurance premiums
Premiums are calculated weekly and normally deducted from your account each month.
Occupational category
When you apply for tailored cover, the insurer will determine your 'occupational category' based on your occupation at the time. Your 'occupational category' then determines the premium you pay for you cover. The table below shows the 'occupational categories' that apply to Tailored cover. Professional and White categories also apply to White Collar cover.
Occupational Category | Description |
---|---|
Professional | White collar professionals performing no manual duties (such as a doctor, lawyer, accountant). Usually those with a tertiary qualification or registered with a professional body (and they must be using these qualifications in their occupation). |
White | Clerical, administration and managerial occupations involving office duties only. Includes those who do less than 10% light manual duties (such as an administrator, bookkeeper, computer operator). |
Light Blue | Certain light manual skilled workers (such as photocopy/TV repairers), purchasing officers, travelling sales representatives, claims/loss assessors, business owners in non-hazardous industries involved in light manual work (such as a coffee shop owner) and supervisors of workers in Medium Blue occupational categories. |
Medium Blue | Qualified tradespeople involved in non-hazardous industries doing light manual work (such as qualified tradespeople including cabinet makers, carpenters, plumbers, mechanics). |
Heavy Blue | Heavy manual workers, unskilled or performing higher risk occupations, tradespeople involved in heavier manual work (such as a qualified brick layer, interstate bus driver, warehouse worker, carpet layer, house removalist). |
Hazardous | There are other occupations classified as hazardous including airline crew and pilots, fire fighters, professional sports people, police, underground workers, miners, abalone divers, asbestos workers, bouncers and those working at heights above 10 metres. For hazardous occupations, the insurer reserves the right to assess applications for cover on a different premium basis to the five categories listed above. |
Opt in Income Protection cover
Provides an income while you are unable to work due to illness or injury to help you pay your expenses while you focus on your health and recovery.
Tailored cover
Tailor your insurance to suit your needs. Having the right level and type of cover provides some assurance of a secure financial future for you and your family. You can apply for Tailored Death cover, Tailored Total & Permanent Disability cover or Tailored Income Protection cover. For more information, refer to the Super Savings Insurance guide (or corporate Insurance guide for corporate members).
Tailored Income Protection cover
Provides an income while you are unable to work due to illness or injury to help you pay your expenses while you focus on your health and recovery.
Total & Permanent Disability cover
If you are Totally & Permanently Disabled and meet the Total & Permanent Disability definition, you may receive a single lump sum payment, helping you to fund any special medical needs, and assist with your costs of living. Refer to Super Savings Insurance guide for details (or corporate Insurance guide for corporate members).
Total & Permanent Disability Assist cover
If you are suffering from long term injury or sickness we may provide early intervention and occupational rehabilitation support. Where you are Totally & Permanently Disabled and you continue to meet the Total & Permanent Disability Assist definition, you may receive up to six annual payments over a minimum of five years to help you pay any debts and bills and fund disability related expenses such as home modifications, rehabilitation and special medical needs. In some circumstances, Total & Permanent Disability Assist may be paid as a single lump sum payment.
Limited Cover
Limited Cover means you are only covered for claims arising from a sickness which first Manifests itself or an injury which occurred on or after the date your cover commenced, most recently commenced or increased (where applicable) under the policy and was not related to the condition that occurred before the date your cover commenced, most recently commenced or increased (where applicable) under the policy.
"Manifests" means that the symptoms exist which would cause an ordinary prudent person to seek diagnosis, care or treatment, or that medical advice or treatment has been recommended by or received from a 'medical practitioner'/;..
Waiting Period
A Waiting Period is the number of continuous days which you must remain off work due to an injury or illness before the Total Disability benefit or Partial Disability benefit begins to accrue. The Waiting Period commences from the date you are Totally Disabled and unable to work, as certified by a registered Medical Practitioner.
White Collar cover
If you are eligible and work in a White Collar role you can apply for 50% more automatic Death and Total & Permanent Disability Assist cover for the same cost, and a reduced premium for Opt In Income Protection cover.
Lifecycle Investment Strategy
Lifecycle Investment Strategy - Super Savings Accumulation accounts
Australian Retirement Trust's Lifecycle Investment Strategy is designed for members who want to generate wealth over the long term, and gradually transition to lower risk investments as they approach age 65. For more information, refer to the Investment guide.
The Lifecycle Strategy is not available in Income accounts.
Net investment earnings
Net investment earnings
For Super Savings Accumulation accounts, net investment earnings is the amount of money your investment has made, or lost, over the year and is after investment fees and costs and transaction costs and tax have been deducted.
For Super Savings Retirement income accounts, net investment earnings is the amount of money your investment has made, or lost, over the year and is after investment fees and costs and transaction costs have been deducted.
Pension payment details
Maximum I can take
There are no maximum limits on Super Savings Retirement Income accounts. For Transition to retirement income accounts, a maximum annual payment limit of 10% of your balance applies.
Minimum I must take
Each year we will ask you to choose the amount for your income payments for the next financial year. The amount you choose will have to be between any minimum or maximum payment limits which apply to your type of Income account. If you don’t choose an amount on setup of your Income account, you will be paid the minimum income amount for your type of account.
The Minimum percentage factors table below shows the percentage factor used to calculate the minimum pension amount each year.
Minimum percentage factors table
Calculations are made, based on your age and your Income account balance on joining and at 1 July each year.
Age | Percentage factor |
---|---|
Less than 65 years | 4% |
65 - 74 years | 5% |
75 -79 years | 6% |
80 - 84 years | 7% |
85 - 89 years | 9% |
90 - 94 years | 11% |
95 years or more | 14% |
Net pension payments
Your income payment less any taxes you may pay if you are under 60 years of age.
Next payment amount
The amount you can expect to be paid the next time a payment is made from your Income account.
Pension lump sum withdrawals
For Retirement income accounts, the minimum cash lump sum withdrawal is $2,000 or account balance if less than $6,000. For Transition to retirement income accounts, lump sum withdrawals are not generally available. Members under age 60 may pay tax on when they take a lump sum from their Income account. Check the Super Savings guide for more information.
Money that is moved back from your Income account into your Accumulation account as part of a restart is also shown as a lump sum withdrawal, but does not count towards your minimum and maximum annual withdrawal limits (if these apply to you).
Pension payment details
Income payments provide a regular income stream for your retirement from your super. You can choose to take your payments fortnightly, monthly, quarterly, half-yearly or yearly. The payment will be paid directly to an account in your name with a bank, building society or credit union. You may change the frequency of payments at any time. If you don’t tell us how often you would like your payments we will make your payments monthly.
If you choose to have your income payments paid fortnightly you will generally receive your payment every second Wednesday.
If you choose to have your income payments paid monthly, quarterly, half-yearly or yearly you will receive your payment by the 11th day of each month your payment is due.
Proportionally
If you're invested in more than one investment option, you can nominate specific percentages of more than one investment option, and your payments will be made from those investment options according to the percentages you nominate.
Where the money comes from
The investment option your income payments will be paid from.
Income account rebalancing
Income account rebalance option
Over time your investment allocation and risk level may shift from your preferences because of market movements or transactions on your account.
You can ask us to regularly switch your investments to maintain your preferred investment strategy and level of risk. We call this rebalancing.
This is how it works
- You can choose rebalancing when you switch investments and select 2 or more investment options.
- You can tell us when to rebalance your investments either:
- every 6 months on 31* March and 30* September or
- every 12 months on 31* March
*Or on the next business day after this date if it falls on a weekend or national public holiday.
If you make an investment switch in the future, you'll need to choose how often you'd like your account to be rebalanced again (if at all). You may need to seek financial advice to help you manage your portfolio and make sure you have the right asset mix for you.
Adding money to your Income account
Adding money to your income account
In order to add money to your Super Savings Retirement income account Australian Retirement Trust will need to close your existing account and restart it to include the new funds. To add money to your Income account, you need to pay the extra money into your Super Savings Accumulation account first. When you let us know, we will combine the money in your Accumulation account with the money in your Income account and use the combined money to start a new Income account in your name. Add money to your income account online.
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Preservation components
Preservation components
Your preservation components show how much of your super benefit is available now, when you leave your employer, or when you retire.
Preserved
The amount of your super benefit that is available to you when you retire after reaching your preservation age.
Restricted non-preserved
The amount of your super benefit that is available to you when you leave your employer.
Unrestricted non-preserved
The amount of your super benefit that is available to you now, if you request it.
Preservation age
Preservation age is the Government-specified age at which you can gain access to your superannuation benefits, provided you have permanently retired from the workforce.
If you have not reached age 60, your preservation age is 60. If you're already age 60, you've met your preservation age.
Super Savings
Super Savings
A super solution that will help you manage your super from your very first day of work and throughout your retirement. Super Savings gives you access to both an Accumulation account to help save for your future and an Income account for when you are transitioning to retirement or when you have retired. Check your Product Disclosure Statement for more information.
Australian Retirement Trust Business
Super Savings – Business
Super Savings – Business is a product of the Fund available to eligible employees of particular employers. Check the Super Savings – Business Product Disclosure Statement for Accumulation Account for more information.
Australian Retirement Trust Corporate
Super Savings – Corporate
Super Savings – Corporate is a product of the Fund available to eligible employees of particular employers. Check the Super Savings – Corporate Product Disclosure Statement for Accumulation Account for more information.
Tax
Contributions tax (also known as the Superannuation Concessional rate)
A Federal Government tax (15%) that is applied to most superannuation contributions made by employers and some members.
No TFN Tax
If you did not provide us with your TFN a 32% no-TFN contributions tax is applied to your employer contributions including salary sacrifice. If you provide us with your TFN, we may be able to claim this amount back from the ATO and refund it to your account. Any refund will be shown as NO TFN tax rebate.
Tax
Super can be a tax-effective way to build up investments to fund your retirement. Understanding how these taxes work will help you maximise your benefits. Check the Product Disclosure Statement for more information on the tax treatment of your super. When making contributions it's important to note that there are tax consequences (you pay extra tax), if you exceed the before-tax or after-tax contribution caps. You should read the important information in the Product Disclosure Statement about How super is taxed including contribution caps before making a decision.
Both the Retirement income account and Transition to retirement income account operate within a preferential tax environment to encourage people to fund their own retirement. Check the Super Savings guide for more information on the tax treatment of your Income account.
Tax File Number (TFN)
A TFN is a unique number issued to each taxpayer by the Tax Office. When you join Australian Retirement Trust, we ask you to provide us with your TFN. You don’t have to give it to us, but if you don’t you could pay more tax than you need.
Back to topTransfers and roll-ins from other funds
Transfers and roll-ins from other funds
Roll-ins or transfers we have received for you from other superannuation funds.
Unit prices
Buy-sell spread
Investment options have an entry unit price and exit unit price. When money is invested in an investment option, the entry unit price is used to buy units in the investment option. When money is withdrawn from an investment option, the exit price is used.
The difference between the entry and exit prices is called a buy-sell spread. The buy-sell spread is the cost charged by some investment managers for transaction costs in buying and selling the underlying assets of the investment option. We do not add a margin to the buy-sell spreads charged by the investment managers.
Australian Retirement Trust does not currently charge a buy-sell spread for any of our investment option. However, we reserve the right to apply a buy-sell spread at our discretion.
Effective date
Unit prices are generally calculated for each business day for each investment option based on the latest available value of net assets in each option at the close of business for that day. The unit price for a specific business day is normally calculated on the next business day.
Entry unit price
When money is invested in an investment option, the entry unit price is used to buy units in the investment option.
Exit unit price
When money is withdrawn from an investment option (for example to pay for fees and costs), the exit unit price is used.
Number of units
The number of units you buy is equal to the amount you invest (less contributions tax if applicable) divided by the unit price.
Unit prices
When you invest in an investment option, you buy ‘units’ in that option. Each unit has a dollar value or ‘unit price’. The number of units you buy is equal to the amount you invest (less contributions tax if applicable) divided by the unit price.
Withdrawals and roll-outs to other funds
Withdrawals and roll-outs to other funds
Withdrawals or roll-outs out of your account including any payments made to the ATO for amounts in excess of contribution caps.
1. Employees in the Australian Retirement Trust group provide advice as representatives of Sunsuper Financial Services Pty Ltd (ABN 50 087 154 818 AFSL No. 227867) (SFS), wholly owned by Australian Retirement Trust. SFS is a separate legal entity responsible for the financial services it provides. Eligibility conditions apply. Refer to the Financial Services Guide (FSG) for more information.