Important Member Information

Transcription

1 1 May 2013 Important Member Information RecruitmentSuper EasyChoice, EasySuper, PreservedSuper, SelectSuper and SelectPlus Accountants Super Australian Enterprise Super Important Member Information This document incorporates essential information for members of the Fund and represents a Significant Event Notice (SEN) as required by law. 1. Transactions during transition to the new arrangements 2. Introducing Kinetic Super The Fund s new name and brand from 1 July MySuper Commences from 1 July New Insurance offering Exciting enhancements to member insurance 5. Other changes to the Fund For further information or to obtain copies of any forms or documents, please contact us on: RecruitmentSuper Phone: Write to: Locked Bag 5091, Parramatta NSW 2124 Website: Fax: memberservices@recruitmentsuper.com.au Accountants Super Phone: Write to: Locked Bag 5092, Parramatta NSW 2124 Website: Fax: memberservices@accountants-super.com Australian Enterprise Super Phone: Write to: Locked Bag 5078, Parramatta NSW 2124 Website: Fax: memberservices@aesuper.com.au Information you need to know This communication explains changes that are being made to the Fund, some of which are the result of changes to the law. It s important that you know some legislation is proposed and is not yet law. We have prepared this document assuming that proposed legislation will become law. It is assumed that the rest of the Government s Stronger Super reforms will be passed during the first half of You can monitor the progress of the relevant legislation at Please note that a revised Product Disclosure Statement and Incorporated Information that reflects changes incorporated in this notice will be issued and made available via our website on or about 1 July However, you should be aware that the Product Disclosure Statement and Incorporated Information is prepared and issued for new members joining the Fund from 1 July As explained in this Significant Event Notice, some benefits that existing members have currently will continue to apply to existing members after 1 July and will not be reflected in the Product Disclosure Statement and Incorporated Information. For example, as explained in Section 4 of this Notice, if you currently have insurance cover that is higher than the new default amount that applies from 1 July, you will retain the higher cover that you currently have. For this reason, to the extent that there is an inconsistency between this Notice and the Product Disclosure Statement/Incorporated Information, the information in this Notice applies to you. 1. Transactions during transition to the new arrangements The Fund will be introducing new insurance arrangements on 15 June 2013 and making other changes (unrelated to insurance) on 1 July In order to complete this, we may delay the processing of transactions in and out of member accounts for a very short period. This brief delay may also apply to some Member Online access, and could affect your ability to view and change your account details online. We will attempt to minimise any disruption to normal services. Please contact us if you have any queries in relation to this. Important Member Information / Professional Associations Superannuation Fund 1

2 2. Introducing Kinetic Super The Fund s new name and brand from 1 July 2013 Professional Associations Super and all of the divisions, including RecruitmentSuper, Accountants Super and Australian Enterprise Super will be brought together under one new name, Kinetic Super from 1 July Why Kinetic Super? Kinetic is about motion and movement and the name comes from our focus to be the Fund that can move with you from job to job, throughout your career, so you always know where your super is and can maximise your savings. You will find a postcard enclosed that provides some further information about the change to the Fund s name and how you can make sure we can keep your super moving with you. We have been working hard to redesign the Fund so it meets the requirements of the new legislation and also to cater for members that are mobile in the way they work and how they work. It is an exciting time for the Fund as we develop initiatives aimed at helping you increase your super savings, keeping track of it and understanding all the benefits offered. For the most part, you won t need to do too much (although we strongly recommend that you read this Notice in its entirety so you are aware of the options available to you) as we will seamlessly switch everything over in the coming months. For more information about the changes to the Fund and Government reforms, please go to your Fund website or kineticsuper.com.au and if there is a specific question, then please call, or use the contact us tool on the website. 3. MySuper Commences from 1 July 2013 On 8 March 2013, we received approval from APRA (Australian Prudential Regulation Authority) to offer a MySuper product. This is a great achievement and milestone for the Fund, and our ability to offer this product from 1 July 2013, when we become Kinetic Super, further complements our continued commitment to provide competitive products and services to our members. We were one of the first 10 Funds in Australia to be authorised by APRA to offer a MySuper product. Effective from 1 July 2013, our Growth default investment option, will change its name to Growth (MySuper). Any amount you may have invested in this option will not be affected by this change. This option will remain our default option (which means that it is the investment option in which members are automatically invested if they do not make an investment choice). It is a requirement that all eligible funds provide a default level of insurance cover to members in a MySuper product. As a result, we will be introducing new insurance arrangements from 15 June Please see the insurance section 4 at right for further details. 4. New Insurance offering Exciting enhancements to our insurance Insurance can provide financial security for you and your family in the event of challenging and sometimes traumatic times. We provide the flexibility to cover you for different circumstances including death, permanent disability and the temporary inability to work due to an injury or illness. Selecting insurance cover through the Fund can be less expensive than obtaining equivalent cover outside superannuation. This is because the insurance cover in the Fund is provided through a group policy which is typically less expensive than an individual policy. There is also the added benefit that, because insurance premiums are deducted from your super account, there is no need to be an out of pocket expense. We are introducing some exciting enhancements to our insurance arrangements from 15 June The changes apply to all types of cover including: Death Total and Permanent Disablement (TPD)*, and Income Protection (IP). * TPD cover is not offered on its own. It is only available with a minimum of one unit of Death cover. As we commence the new insurance arrangements, all eligible members (who have not previously opted-out of insurance or had cover lapse for any reason, and are not Personal members) will be provided with at least the minimum default level of Death and TPD insurance (without any insurance underwriting requirements). In most cases, members who are currently insured have a default level of around 1 unit of Death and TPD from 15 June 2013: The new default level of cover will be 6 units of both Death and TPD cover There are two Occupational Categories (Standard or White Collar) The insured amount (dollar value, based on your age) of each unit of cover will be different to that under the existing arrangements, and The premium amount (cost, based on your age) of cover will also differ. You can calculate the new levels of insurance cover and the new premium rates that will apply to you by using our Insurance Calculation Worksheets, that are enclosed with this Notice you can also view your new cover via Member Online from approximately 22 June 2013, or call us, and You can check your current levels of any cover (prior to 15 June 2013) by viewing the details provided in your cover letter* that is attached or via our website. * The amount detailed on your cover letter should be current, however, it may differ if you have had a birthday recently because the cover is age based. You can view up to date details from 22 June 2013 (approx.) via Member Online and your Annual Member Statement (due around September 2013) will provide your new insurance cover at 30 June Please contact us if you have any queries. Important Member Information / Professional Associations Superannuation Fund 2

3 4.1 Insurance changes that may automatically apply to you, from 15 June 2013 Important Notices The description of the terms and conditions of the insurance benefits in this Notice are a summary only. The terms and conditions are contained in one or more insurance policies. If there is any inconsistency between the summary in this Notice and the contents of the relevant insurance policy, the insurance policy prevails. The Trustee has used reasonable endeavours to provide members with timely and accurate information regarding the change to the insurance benefits. However, neither this Notice, nor the enclosed Worksheets that are provided to assist members to determine the new insurance cover, are binding on the Trustee or give rise to benefits that are not provided under the relevant insurance policy. The details of your new insured benefits will be available via Member Online from approximately 22 June 2013 and contained in your 30 June 2013 Annual Member Statement. If, when you receive your 2013 Annual Member Statement, the insurance details are inconsistent with the cover that you understand you are entitled to as a result of this Notice, please contact us. When reading the text below, please note that if you wish to make a comparison between your existing and new cover, you will need to compare the actual dollar amount of the insurance cover and the premium cost of each. If you currently have unitised cover, you cannot simply compare the number of units, as the new value and cost of each unit from 15 June, is different and is based upon your age and occupational category. Members with fixed or salary based cover prior to 15 June 2013, will be provided with at least an equivalent amount of applicable cover (see further in this section). From this date, the cover amount and premium rates applicable, will no longer be calculated based upon your age and salary, they will be based upon your age and occupational category. Standard (default) premium rates will apply until we receive notification of any different occupational category. If you currently have a claim pending, your claim will continue to be assessed under the existing insurance arrangements (the new insurance arrangements will not apply to you). Death and TPD cover* If you currently have no insurance cover and have not previously opted-out of insurance or had cover lapse or are a Personal member, we will provide you with the new minimum default level of Death and TPD insurance which is 6 units of Death and 6 units of TPD cover (this change is relevant mainly for EasySuper and PreservedSuper members of RecruitmentSuper). If you have an existing amount of Death or Death and TPD cover, we will provide you with at least the equivalent amount of cover that you currently have, subject to providing the minimum default amount (6 units of Death and 6 units of TPD cover). (Personal members will be provided with the same or equivalent cover, no default will apply). If you have previously opted out of cover or had cover lapse, we will not provide any automatic cover, however you may apply for cover at any time, subject to underwriting requirements. Australian Enterprise Super members aged over 60 who have Death only cover after the TPD cover lapsed, will also be provided with the new equivalent Death cover and minimum default level of TPD cover. A Special Insurance Offer may be available up to 15 August 2013, please see section 4.5 for further details. If you are absent from active employment on 15 June 2013 and you either commence insurance cover for the first time, or your level of cover increases, as a result of the transition to the new insurance arrangements, the amount of the new or increased cover will only apply to an illness that first becomes apparent, or injury that first occurs, on or after 15 June This limitation will cease to apply after you have been in active employment for 2 consecutive months. Income Protection cover* If you have an existing amount of Income Protection cover, we will provide you with at least the equivalent amount of cover that you currently have, rounded up to the next $1,000 of cover. A Special Insurance Offer may be available up to 15 August 2013, please see section 4.7 for further details. If you are a RecruitmentSuper member and you are not at work on 14 June 2013, you will not be covered for disability arising from any sickness or injury that is the reason you were not at work. However, if this is the case, you may be covered under the existing policy if you don t return to work. If you do return to work, you will be covered under the new arrangement. If you are a RecruitmentSuper member you should be aware that, under the existing arrangements, cover ceases if you are unemployed for 3 consecutive months. This condition will continue to apply under the new arrangements after 15 June Members have the choice to opt-out of insurance cover at any time. If you wish to opt-out, please complete the relevant Insurance Opt- Out (Cancellation) form from our website, call us for a hard copy, or you can opt-out via pasl.com.au/insurance. Please note that the online access (pasl.com.au/insurance) is only available until 15 August * Changes provided in the above sections generally refer to all members, with the possible exclusion of those outside the eligibility conditions e.g. exceeded age, opted-out or lapsed, Personal members, etc. Opted-out refers to members that have instructed that insurance is to be cancelled or no insurance is required. Lapse refers to members that have previously had their insurance cancelled due to insufficient funds available to pay premiums. Personal members (not employer sponsored) who have current insurance will be provided the same or equivalent cover from 15 June 2013, no default cover will apply. Important Member Information / Professional Associations Superannuation Fund 3

4 4.2 What is your current level of insurance cover and how to calculate any new cover? Your cover letter included with this Significant Event Notice, provides details of your current insurance benefits (if any). You can use these details to calculate your new insurance benefits that may apply on and from 15 June To calculate your new cover, complete the appropriate Insurance Calculation Worksheet (available for Death, TPD and Income Protection), that are provided with this document. Alternatively, you will be able to view details of your new insured benefits via Member Online from approximately 22 June 2013 and on your 30 June 2013 Annual Member Statement which will be mailed to all members around September If you wish to find out your new insurance benefit sooner, and would like help with the Insurance Calculation Worksheet/s, please contact us for assistance. 4.3 Occupational Categories White Collar or Standard (default) Effective from 15 June 2013, we are introducing two distinct occupational categories for all eligible members with insurance. The two categories, White Collar and Standard (default), have different insurance premiums applied to each of them. The easiest way to determine your occupational category is to establish if the work you do is categorised as White Collar. If not, then you will be covered by Standard. A description of each category is provided below. 4.4 Death and TPD insurance cover Death & TPD Changes to individual units of cover Currently, the level of Death cover must generally be the same as the level of TPD cover. From 15 June 2013, the level of Death cover and the level of TPD cover do not need to be the same. Separating the cover will provide members with greater flexibility for insurance cover amounts, including the ability to alter the mix of either cover to suit your changing circumstances. The new cover amounts and premium rates are age banded in 5 year groups (e.g. age next birthday 21 to 25 years, etc.) for both Death and TPD, and are provided in the appropriate Insurance Calculation Worksheet/s enclosed with this Notice. These worksheets will help you calculate your new insurance cover amount and premium rates applicable to your occupational category at 15 June Standard is our default category. Existing members will be automatically categorised as the Standard occupational category. This will apply until we are notified that your occupational category is White Collar. It s important to note that a member s occupational category will be confirmed in the event of any claim and there may be adverse consequences if you have classified yourself as White Collar when you are not eligible for that classification. Please read the category definitions below and notify the Fund if your work duties mean that you should be classified as White Collar. You can notify us via pasl.com.au/insurance, or complete the Special Insurance Offer form, available from our website or call us. We will then update your details and ensure that the appropriate level of insurance premium is applied to your account from the date you notify us. Occupational Categories White Collar is where the duties of your occupation are limited to professional, managerial, administrative, clerical, secretarial or similar white collar nature tasks which do not involve manual work and are undertaken entirely within an office environment (excluding travel time from one office environment to another). Standard (default) is for all members whose work includes some degree of manual labour usually conducted outside an office environment, or who otherwise do not meet the criteria of what is considered White Collar. Important Member Information / Professional Associations Superannuation Fund 4

5 4.4.2 Death and TPD Changes to insurance terms and conditions Effective 15 June 2013, the terms and conditions applicable to the Death and TPD cover have changed. The following is a summary of significant changes. Because it is a summary, it does not include all of the terms and conditions that apply under the relevant insurance policy. If you would like a copy of the policy, please contact us. Alternatively, you can refer to the Kinetic Super Product Disclosure Statement and Insurance Incorporated Information when it is made available on the website from 1 July Death and TPD insurance conditions Life events cover Ability to apply for increased cover due to a life event without the requirement for underwriting. Terminal Illness Benefit Option to apply for increased cover Details of new conditions Maximum additional amount of cover available is the lesser of $150,000 and the existing amount of cover in place. Life Events include: Marriage or divorce Birth or adoption of a child Child commencing 1st day of primary school or secondary school Death of spouse, or Taking out a 1st mortgage of primary residence. The maximum benefit payable on terminal illness is $1m. The remainder, if any, of the benefit is payable on the death of the member. Where your cover reduces because of age, you may apply to increase the number of units to maintain an equivalent level of cover. You must do so on the first occasion you become eligible. Difference from previous conditions New enhancement to cover, not previously offered. Under the existing policy, the full amount of the sum insured is payable on terminal illness. There is no equivalent option available under the existing policy. However, this change does affect members who are currently entitled to a fixed dollar amount of cover that remains constant until age 60, after which it reduces with age. Prior to age 60, these members are not currently required to take any action to maintain their level of cover. Under the new insurance arrangements, you have the right to apply for more units in order to maintain your level of cover, but your cover will reduce if you do nothing. 4.5 Death & TPD cover Special Insurance Offer Until 15 August 2013, Eligible Members have the opportunity to apply for increased Death and TPD insurance, up to the new Automatic Acceptance Limit (AAL) without providing medical evidence. The new AAL is 12 units of Death cover and 12 units of TPD cover. The AAL applies to the total amount of cover, including the default cover. In other words, Eligible Members who have 6 units of Death cover and 6 units of TPD cover may apply for an additional 6 units of Death cover and 6 units of TPD cover Who is eligible for the Special Insurance Offer? You are an Eligible Member and have the opportunity to apply to take up the Special Offer if: You have not previously opted-out or had insurance cover lapse with the Fund Your current cover is not already in excess of the new Automatic Acceptance Limit (AAL) of 12 units You do not exceed the maximum eligible age level for cover You are not a Personal member You meet all eligibility conditions, e.g. must be an Australian citizen or permanent resident, etc., and You apply via pasl.com.au/insurance or a Special Insurance Offer form available from our website or call us, and we receive your application prior to 15 August If you are not eligible to meet all of the Special Insurance Offer conditions above, you may still have the opportunity to apply to increase or change your cover by completing and submitting a relevant Insurance Application form and satisfying all underwriting requirements, available from our website or call us. If you have a pre-existing medical condition, a 24 month Pre-Existing Condition exclusion will apply which will be removed if you are in active employment at the end of the 24 month period. If you are not in active employment at the end of the 24 month period, the Pre-Existing Condition exclusion will continue to apply until you have been in active employment for 2 consecutive months How can you apply to increase cover on the Special Insurance Offer? The Special Insurance Offer can be applied for via pasl.com.au/insurance or by completing and submitting a Special Insurance Offer form available from our website or by calling us. Your application must be received prior to 15 August Important Member Information / Professional Associations Superannuation Fund 5

6 4.6 Income Protection insurance cover The new levels of cover and premium rates for Income Protection can be found in the relevant Income Protection Insurance Calculation Worksheet provided. This worksheet will help you calculate your new insurance cover amount and premium rates applicable to your occupational category at 15 June Changes to Income Protection terms and conditions: Effective from 15 June 2013, the terms and conditions applicable to the Income Protection cover have changed. The following is a summary of significant changes. As it is a summary, it does not include all of the terms and conditions that apply under the relevant insurance policy. If you would like a copy of the policy, please contact us. Alternatively, you can refer to the Kinetic Super Product Disclosure Statement and Insurance Incorporated Information when it is made available on the website from 1 July Income Protection insurance conditions Cessation of Cover Insurance cover ceases when a member attains a prescribed age. Maximum cover limits The maximum amount of Income Protection cover available to a member. Waiting periods Income Protection cover is offered with the choice of 3 different waiting periods. The waiting period is the period that must elapse before a benefit commences. Note that other conditions must be satisfied before a benefit is paid. Benefit payment periods A benefit payment period is the maximum period of time during which an Income Protection benefit will be paid Interim Accident Cover When a member applies for cover or an increase in cover, Interim Accident Cover is provided subject to conditions. Details of new conditions Under the new arrangements, cover will cease when a member reaches age 65. Also, any benefit that is being paid will cease when a member reaches age 65. For some members, this is a reduction of 5 years compared with the existing policy. Difference from previous conditions Under the existing policy, cover and the payment of Income Protection benefits of some members cease at age 70. $25,000 per month Maximum Cover has increased from $21,667 (under the existing policy) to $25,000 (under the new arrangement) per month. Some members are already subject to a maximum benefit of $25,000 under the existing arrangement, so for these members this is not a change. Waiting periods that can be applied for: 30 days 60 days, or 90 days Benefit payment periods that can be applied for: 2 years 5 years, or To age 65 Cover starts on application date and ends no more than 120 days later. Maximum benefit $15,000 per month or the amount of benefit being applied for not exceeding maximum benefit. Benefit payment period is 2 years. Under the existing policy, some members may have either a 14 or 28 day waiting period. In either case, this will increase to a 30 day waiting period for existing members. Members who currently have a 30, 60 or 90 day waiting period will continue to have the same waiting period. Under the existing arrangements, most members were provided with benefits that were paid for a maximum of 2 years. Member can now choose from 3 options. New enhancement to Income Protection cover. There is no equivalent benefit provided under the existing policy. Benefits where member is overseas Where a member is outside Australia the Income Protection benefit is payable for a limited time. Under the new arrangements, a benefit is limited to 6 months. Some members are currently not subject to an equivalent condition. Important Member Information / Professional Associations Superannuation Fund 6

7 4.7 Income Protection cover Special Insurance Offer An opportunity for members that coincides with the introduction of our new insurance arrangements is a Special Insurance Offer that is only available until 15 August We have negotiated this Special Insurance Offer for eligible members. This provides a chance to apply for Income Protection cover or to increase existing cover, up to the new Automatic Acceptance Limit (AAL). The new AAL is up to $60,000 benefit per year White Collar cover, up to $36,000 benefit per year Standard cover, with a 90 day waiting period and a 2 year benefit payment period Who is eligible for the Special Insurance Offer? You are an Eligible Member and have the opportunity to apply to take up the Special Offer if: You have not previously opted-out or had insurance cover lapse with the Fund Your current cover is not already in excess of the new Automatic Acceptance Limit (AAL) as detailed above You do not exceed the eligible age level for cover You are not a Personal member You meet all eligibility conditions, e.g. must be an Australian citizen or permanent resident, etc., and You apply via pasl.com.au/insurance or a Special Insurance Offer form available from our website or call us, and we receive your application prior to 15 August If you are not eligible to meet all of the Special Insurance Offer conditions above, you may still have the opportunity to apply to increase or change your cover by completing and submitting a relevant Insurance Application form and satisfying all underwriting requirements, available from our website or by calling us. If you have a pre-existing medical condition, a 24 month Pre-Existing Condition exclusion will apply which will be removed if you are in active employment at the end of the 24 month period. If you are not in active employment at the end of the 24 month period, the Pre-Existing Condition exclusion will continue to apply until you have been in active employment for 2 consecutive months How can you apply to increase cover on the Special Insurance Offer? The Special Insurance Offer can be applied for via pasl.com.au/insurance or by completing and submitting a Special Insurance Offer form available from our website or by calling us. Your application must be received prior to 15 August Other changes to the Fund 5.1 Extra investment options for current RecruitmentSuper EasyChoice, EasySuper and PreservedSuper members Effective from 15 June 2013, we will offer a broader choice of investment options to members of RecruitmentSuper EasyChoice, EasySuper and PreservedSuper. This change has been introduced to align the choice of investment options available to all members in preparation for the divisions coming together as Kinetic Super. Please see the table below for the full suite of investment options available. Members will retain their current investment in the Growth investment option, and from 15 June 2013, will have the choice to invest all or a portion of their account balance and/or future contributions in any of our Pre-mixed and investment options. Further details will be available from our website and the new Kinetic Super Product Disclosure Statement and Incorporated Information available from 1 July When making an investment selection you should consider the Investment Information which is available on the website. The Investment Information contains details of each investment option including important information about the risks, asset allocation and fees and costs. The investment options that will be available are listed in the table below. MySuper and Choice Investment options MySuper investment option Choice investment options Name of Investment Option Growth (MySuper) default* Aggressive Moderate Australian Shares Overseas Shares Property Bonds Cash Investment Allocation Pre-Mixed Pre-Mixed Pre-Mixed * Growth investment option will be renamed Growth (MySuper) effective from 1 July Important Member Information / Professional Associations Superannuation Fund 7

8 5.2 Insurance proceeds to be invested in Cash investment option Currently, insurance proceeds received in respect of a member are held pending disbursement to the appropriate claimant or beneficiary(ies). From 1 July 2013, any insurance proceeds received from the Insurer as a result of an insurance claim (other than Income Protection insurance), will be invested in the Cash investment option in the member s account, prior to disbursement. This will not affect a member s current investment choice for their account balance prior to the insured benefit being received. The Trust Deed has been amended to facilitate this change. 5.3 Payment of Death benefits Currently, in certain circumstances (e.g. where a member last joined the Fund after 30 September 2000 and has not made a Binding Nomination), on the death of the member, the death benefit is automatically paid to the member s estate. Effective from 1 July 2013, if the whole or any part of a death benefit cannot be paid in accordance with a Binding nomination, or if no Binding nomination has been made, the benefit that the Trustee determines cannot be paid in accordance with a Binding Nomination will be paid to or for the benefit of any one or more eligible beneficiary(ies) as the Trustee may determine in its absolute discretion, subject to Superannuation Law. The Trust Deed has been amended to facilitate this change. 5.4 Operational Risk Financial Reserve (ORFR) The recent reforms require superannuation funds to operate an Operational Risk Financial Reserve (ORFR). The ORFR is intended to provide adequate financial resources to address losses arising from operational risks affecting the Fund. The Trust Deed has been amended to facilitate this establishment and maintenance of the ORFR in accordance with Superannuation Law. 5.5 Member benefit protection to be abolished The Government has announced that member benefit protection will be abolished from 1 July Subject to the passage of the relevant legislation, from this date, we will remove our Member Benefit Protection Rebate which has been applied to accounts with balances less than $1,000. This protection ensured that low balance accounts were not eroded by fees (where administration fees exceeded investment returns for the period). 5.6 Consequences if you become a Lost Member Recent reforms have changed the circumstances in which a member s account must be treated as a lost member account with the result that the member s account must be transferred to the Australian Taxation Office (ATO). As a result of the recent changes, your account will be treated as a lost member account and taken to be unclaimed super if you are a lost member, and: the balance of your lost member account is under $2,000* (small lost member account), or your lost member account has been inactive for a period of 12 months and we are satisfied that we have insufficient records to identify you as the owner of the account and it will never be possible to pay an amount to you (you are a lost insoluble member). A lost member, is a member who is uncontactable or inactive: 1. Lost Uncontactable we may not have been advised of your address, or mail sent to the your last known address has been returned unclaimed. If the Fund receives two pieces of mail unclaimed by you, the Fund is required to report you as lost. 2. Lost Inactive you joined, as a standard employer-sponsored member, more than two years ago, and there have been no contributions or rollover amounts in the last five years, or you transferred from another super provider as a lost member and the Fund haven t found or been advised of a new address. Unclaimed superannuation monies are those: General unclaimed superannuation money Unclaimed super of former temporary residents, and Lost member accounts (small lost accounts and inactive accounts of unidentifiable members). The Trustee must pay lost member accounts to the ATO where, from 1 July 2013, it will attract interest. You are entitled to claim from the ATO any unclaimed monies held for you. The unclaimed money rules are subject to change. For more information regarding unclaimed monies, including how to claim money held by the ATO, go to * The Government has proposed further changes to the minimum balance. We will notify members when any proposed changes become law. This Significant Event Notice is issued 1 May 2013 by Professional Associations Superannuation Limited (ABN AFSL RSE L ) as trustee for Professional Associations Superannuation Fund (ABN RSE R ). Important Member Information / Professional Associations Superannuation Fund 8