Fact sheet and form Withdrawal What this fact sheet covers This fact sheet explains how to make a full or partial lump sum withdrawal from your super. Who is this fact sheet for? UniSuper members who want to make a full or partial lump sum withdrawal from their super. Note: If you re in Australia on a temporary resident visa, you can t use this form to make a lump sum withdrawal. Please call us on 1800 331 685 for further information. When can you make a withdrawal? The Government has placed restrictions on when you can access your super. Generally, your super must remain in the superannuation system until you permanently retire from the workforce on or after reaching your preservation age. Your ability to make a lump sum withdrawal from your super depends on its preservation status. Under the preservation rules, your super is made up of the following three components: Apreserved benefits restricted non-preserved benefits, and A A unrestricted non-preserved benefits. Preserved benefits You can withdraw all or part of your preserved benefits as a lump sum if you meet a condition of release, which includes: A A permanent retirement from the workforce on or after reaching preservation age (see table opposite) termination of employment after reaching age 60 A reaching age 65 Adeath A A suffering permanent incapacity, or A A termination of employment with an employer who contributed to UniSuper where the benefit is less than $200. Your preservation age depends on when you were born. YOUR DATE OF BIRTH Before 1 July 1960 55 1 July 1960 30 June 1961 56 1 July 1961 30 June 1962 57 1 July 1962 30 June 1963 58 1 July 1963 30 June 1964 59 1 July 1964 or after 60 PRESERVATION AGE You may also be able to withdraw all or part of your preserved benefits early in certain limited circumstances provided you satisfy the eligibility criteria. These include specified compassionate grounds, severe financial hardship or if you re suffering a terminal medical condition. If you want to make a withdrawal on these grounds, don t use the Withdrawal form please contact us for more information. Restricted non-preserved benefits You can withdraw all or part of your restricted nonpreserved benefits when you terminate employment with an employer who contributed to UniSuper on your behalf, or if you meet a condition of release as set out in the Preserved benefits section. unisuper.com.au
Unrestricted non-preserved benefits You can withdraw all or part of your unrestricted non-preserved benefits from your accumulation account/ component at any time. Please refer to your most recent Benefit Statement for information on the preservation components of your benefit. For more information on when you can withdraw your super, refer to your Product Disclosure Statement or call us. Special rules for certain Defined Benefit Division (DBD) members Restrictions are imposed under the Fund s governing rules which limit when a DBD member can access their defined benefit component. Generally, if you re a DBD member, you can only withdraw all or part of your defined benefit component if that component consists entirely of unrestricted non-preserved benefits. Generally, if you withdraw all or part of your defined benefit component, you ll cease to be a DBD member. Any remaining defined benefit component will be converted into an accumulation benefit and transferred together with your accumulation component to an Accumulation 1 account. Any future employer and member contributions will be made into the Accumulation 1 account. Different rules apply for requests to withdraw benefits on the grounds of severe financial hardship or Department of Human Services (DHS)-approved compassionate grounds. Temporary resident members If you re a temporary resident and a not an Australian citizen, New Zealand citizen or permanent resident, or holder of a 405 or 410 retirement visa, your benefit can generally only be accessed in the following circumstances: if you have a terminal medical condition if you re temporarily or permanently incapacitated if you die, or if you have departed Australia permanently and your visa has been cancelled. After you leave Australia, you can claim your benefit directly from UniSuper. We re required to pay any benefit you haven t claimed to the Australian Taxation Office (ATO) if it has been at least six months since the later of the following: you departed Australia, and A A your visa expired or was cancelled. If your benefit has been paid to the ATO, you must claim your benefit directly from the ATO. Providing your tax file number (TFN) The Trustee is authorised and required to ask you for your tax file number (TFN) by tax law and in accordance with the Superannuation Industry (Supervision) Act 1993. Your TFN will only be used for lawful purposes, which include: finding and combining your superannuation benefits where insufficient information is available A A providing information to the ATO, for example when you receive a benefit or if you re a lost member, to validate initial registration information associated with your first employer contribution using SuperTICK, or you have unclaimed benefits A A verifying you re the person to whom the super entitlements belong prior to transferring your benefits to another super fund A A providing information to the trustee of another superannuation fund when your benefits are being transferred, unless you advise us in writing that you don t wish your TFN to be passed on. It s not an offence not to quote your TFN, however, providing your TFN will have the following advantages (which may not otherwise apply): we ll generally be able to accept all types of contributions to your accounts the tax on contributions to your super accounts won t increase other than the tax that may ordinarily apply, no additional tax will be deducted when you start drawing down your super benefits it will make it much easier to trace different super accounts in your name so that you receive all your super benefits when you retire. The lawful purposes for which your TFN can be used and the consequences of not providing us with your TFN may change in the future as a result of legislative change. Partial lump sum withdrawals If you make a partial lump sum withdrawal, you must leave a minimum balance of $5,000 in your account. If the amount requested doesn t allow for you to retain a minimum account balance of $5,000, we ll process your withdrawal and retain $5,000 in your account. Please call us on 1800 331 685 for further information. unisuper.com.au
Payments to foreign bank accounts All lump sum withdrawals paid into a foreign bank account will be paid in local currency unless otherwise requested. Tax on lump sum withdrawals If you re under age 60, tax will be deducted from your lump sum withdrawal before payment is made. If you don t provide your TFN, tax will be deducted from the taxable component of your withdrawal at the highest marginal tax rate plus the Medicare levy. Making a partial or full rollover PROOF OF IDENTITY UniSuper is required by law to verify your identity. You can quickly and easily prove your identity online you ll know as soon as your identity gets verified. Log in at unisuper.com.au/memberonline and go to Verify your identity under the Manage account tab. Alternatively, attach certified copies of proof of identity documentation to this form. Delays can be expected if incorrect documentation is provided. Details about which documents can be accepted can be found in the Your guide to proof of identity fact sheet. If you want to rollover part or all of your benefit to another complying super fund, you must complete the Portability and rollover form. Definition of retired It s important to be sure you meet the definition of retired before applying to withdraw your super. The regulations applying to super specify that retired means you re no longer employed (either on a full-time or part-time basis), and don t intend to work again for more than 10 hours per week or that after reaching age 60, an arrangement in which you were gainfully employed has terminated. We re unable to release your super if your situation doesn t meet this definition. At times we might need to contact your employer to verify that you re due to cease or have ceased work, for example if we re still receiving employer contributions to your account, or you ve lodged your withdrawal form before retiring. If you re not sure whether your work arrangements meet the definition, please call us before lodging your application. This information is of a general nature only and includes general advice. It has been prepared without taking into account your individual objectives, financial situation or needs. Before making any decision in relation to your UniSuper membership, you should consider your personal circumstances, the relevant product disclosure statement for your membership category and whether to consult a licensed financial adviser. This information is current as at October 2017 and is based on our understanding of legislation at that date. Information is subject to change. To the extent that this fact sheet contains information which is inconsistent with the UniSuper Trust Deed and Regulations (together the Trust Deed), the Trust Deed will prevail. Issued by: UniSuper Management Pty Ltd ABN 91 006 961 799, AFSL No. 235907 on behalf of UniSuper Limited the trustee of UniSuper, Level 1, 385 Bourke Street, Melbourne Vic 3000. Fund: UniSuper, ABN 91 385 943 850 Trustee: UniSuper Limited, ABN 54 006 027 121, AFSL 492806 Date: October 2017 UNIS00F105 1017 unisuper.com.au
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Fact sheet Your guide to proof of identity We take looking after your retirement savings very seriously which is why you need to prove your identity (ID) before making withdrawals or other important changes to your account. You can prove your ID: do it yourself via MemberOnline, or send us certified copies of your ID. Verify your identity online Electronic verification is usually the quickest and easiest way to prove your identity you ll know as soon as your identity gets verified and it s also free. Log in at unisuper.com.au/memberonline and go to Verify your identity under the Manage Account tab. You ll need to provide the details of two to four of the following valid government-issued IDs: Australian passport Australian visa Australian driver licence Medicare card your phone book details (e.g. White Pages) your details as stated on State or Federal electoral rolls. The documents you use must contain your date of birth, given name(s), surname and residential address. Please make sure you ve updated your current personal details with relevant government agencies before you begin the process of verifying your identity online. We use online government and public databases to securely and confidentially verify your identity. Send us certified copies of your ID You can also send us certified copies of your ID. The following guide explains the types of documents we can accept and how to ensure they re correctly certified. ALLOW US TO VERIFY YOUR IDENTITY In some cases and on some of our forms, we can verify your identity on your behalf if the document(s)you provide haven t been certified correctly or can t be read. All you need to do is give us consent by ticking the box on the applicable form and we ll try to verify your identity electronically using those documents. We ll let you know if the process wasn t successful. Why provide your TFN? Giving us your tax file number (TFN) means we can process rollover and transfer requests to another super fund without additional proof of identity. If your TFN can t be validated, or you want to transfer to a selfmanaged super fund or organise a benefit payment, you ll still need to give us certified copies of your ID. Visit unisuper.com.au/memberonline to provide your TFN online. STEP 1: COLLECT ACCEPTABLE DOCUMENTS We ll accept either one document from List A or two documents from List B. LIST A CERTIFIED COPY OF A: current driver licence current passport issued by the Commonwealth that has not expired within the past two years. LIST B CERTIFIED COPY OF A: birth certificate or birth extract issued by an Australian State or Territory Australian citizenship certificate a pension card issued by Centrelink that entitles the person to financial benefits. AND: Notice of Assessment from the Australian Taxation Office (less than 12 months old) containing your name and residential address letter from Centrelink regarding a government assistance payment rates notice from local council (less than 12 months old) containing your name and residential address electricity, gas or water bill dated within the past three months that contains your name and residential address. unisuper.com.au
STEP 2: CERTIFY YOUR DOCUMENTS Take your original document(s) and a clear photocopy of both sides of the original document to an authorised person. Your ID must be properly certified The authorised person will need to: 1. sight the original document, and the copy, to ensure both documents are identical, and 2. write or stamp this is a true and correct copy of the original document I have sighted or certified true copy, followed by their: signature printed name qualification (e.g. Justice of the Peace), and date. If you ve changed your name or are signing on behalf of another member please prove the link between you and the name change, or other person use a certified copy of one of the following documents as well as your other certified ID. PURPOSE Change of name Signing on behalf of another member SUITABLE LINKING DOCUMENT Marriage certificate Deed poll or change of name certificate from the Registry of Births, Deaths and Marriages Power of Attorney Guardianship papers When having your documents certified, remember: All pages must be certified. The copy of the document must be certified not on a separate page attached to the document. The certified copies of your documents must contain an original signature. Faxed or emailed copies won t be accepted. Any documents written in a language other than English must be accompanied by an English translation prepared by an accredited translator. Documents certified more than a year ago won t be accepted. Who can certify your documents Some of the people authorised to certify IDs include: 1. A person who is currently licensed or registered under a law of a State or Territory to practise in one of the following occupations: Chiropractor Patent attorney Dentist Pharmacist Legal practitioner Physiotherapist Medical practitioner Psychologist Nurse Trade marks attorney Optometrist Veterinary surgeon. 2. One of the following persons: Teacher employed on a full-time basis at a school or tertiary education institution Agent of the Australian Postal Corporation who is in charge of, or a permanent employee with two or more years of continuous service with, an office supplying postal services to the public Bank, building society, credit union or finance company officer with two or more years of continuous service Clerk, Master, Registrar or Deputy Registrar of a court Judge of a court or a Magistrate Justice of the Peace Member of the Institute of Chartered Accountants in Australia, the Australian Society of Certified Practising Accountants, the Institute of Public Accountants or the Association of Taxation and Management Accountants, or a Fellow of the National Tax Accountants Association Notary public, and Police officer. Visit the Attorney General s website for a full list of who can certify documents. Members residing overseas If you live overseas, the following people are authorised to certify identification documents: Australian Consular Officer or Australian Diplomatic Officer (within the meaning of the Consular Fees Act 1955) Employee of the Commonwealth or the Australian Trade Commission who is: a. in a country or place outside Australia; and b. authorised under paragraph 3(c) or paragraph 3(d), respectively, of the Consular Fees Act 1955; and c. exercising his or her function in that place A person authorised as a notary public in a foreign country Any person who is in a country or place outside Australia and: a. is currently licensed or registered in Australia (under a State or Territory law) to practise in an occupation listed in part 1 - opposite; or b. holds a position in Australia listed in part 2 - above. You must have your documents certified by a person who has an Australian connection (as set out above). We won t accept documents certified by a person who s licensed or registered to practise in an occupation listed above in a foreign country (and not in Australia), or who holds a position in a foreign country (except for a foreign notary public). This information is of a general nature only and includes general advice. It has been prepared without taking into account your individual objectives, financial situation or needs. Before making any decision in relation to your UniSuper membership, you should consider your personal circumstances, the relevant product disclosure statement for your membership category and whether to consult a licensed financial adviser. This information is current as at May 2017 and is based on our understanding of legislation at that date. Information is subject to change. To the extent that this fact sheet contains information which is inconsistent with the UniSuper Trust Deed and Regulations (together the Trust Deed), the Trust Deed will prevail. Issued by: UniSuper Management Pty Ltd ABN 91 006 961 799, AFSL No. 235907 on behalf of UniSuper Limited the trustee of UniSuper, Level 1, 385 Bourke Street, Melbourne Vic 3000. Fund: UniSuper, ABN 91 385 943 850 Trustee: UniSuper Limited, ABN 54 006 027 121 AFSL 492806 Date: May 2017 UNIS000F80 0517 unisuper.com.au
Superannuation withdrawal form AVOID PROCESSING DELAYS Check you re using the latest version of this form. Compare the issue date at the bottom of this page with the version available at unisuper.com.au/forms. Use this form to make a full or partial lump sum withdrawal from your UniSuper super account. Flexi Pension members should use the Flexi Pension withdrawal form available from unisuper.com.au/forms. Note: If you re in Australia on a temporary resident visa, you cannot use this form to make a withdrawal. Call us on 1800 331 685 for further information. Important information The actual lump sum withdrawal amount paid to you may be different to the withdrawal amount you request due to positive or negative market movements. This can occur when additional contributions have been made, fees, costs, taxes and insurance premiums have been deducted or investment returns (positive or negative) have been applied. Special rules for certain Defined Benefit Division (DBD) members Restrictions are imposed under the Fund s governing rules which limit when a DBD member can access their defined benefit component. Generally, if you re a DBD member, you can only withdraw all or part of your defined benefit component if that component consists entirely of unrestricted non-preserved benefits. Different rules apply to requests to withdraw benefits on the grounds of severe financial hardship or Department of Human Services (DHS)-approved compassionate grounds. Generally, if you re a DBD member and withdraw all or part of your defined benefit component, you ll cease to be a DBD member. Any remaining defined benefit component will be converted into an accumulation benefit and transferred together with your accumulation component to an Accumulation 1 account. Any future employer and member contributions will be made into the Accumulation 1 account. Definition of retired It s important to be sure you meet the definition of retired before applying to withdraw your super. The regulations applying to super specify that retired means you re no longer employed (whether full- or part-time), and don t intend to work again for more than 10 hours per week or that after reaching age 60, an arrangement in which you were gainfully employed has terminated. We re unable to release your super if your situation doesn t meet this definition. SECTION 1 Your details Please use BLACK or BLUE BALLPOINT PEN and print in CAPITAL LETTERS. Cross where required UniSuper member number If you re unsure of your member number, refer to your most recent UniSuper correspondence or call us on 1800 331 685. Title Mr Mrs Ms Dr Professor Other Surname Given name Date of birth (DDMMYYYY) What phone number do you want us to call you on if there s a question we need to ask you about this form? Contact number (during business hours) ( ) Email address @ Residential address, number and street (not PO Box) Suburb/Town State Postcode Country (if not Australia) Privacy information We recognise the importance of protecting your personal information and are committed to complying with our privacy law obligations. For more information on how we collect and manage your information refer to the Privacy statement at the end of this form. Fund: UniSuper ABN 91 385 943 850 Trustee: UniSuper Limited ABN 54 006 027 121 AFSL 492806 Administrator: UniSuper Management Pty Ltd ABN 91 006 961 799 AFSL 235907 Address: Level 1, 385 Bourke Street, Melbourne Vic 3000 Issue date: October 2017 UNISF00101 0717
SECTION 1 Continued Is your postal address different from your residential address? No. Go to SECTION 2. Yes. Please provide your postal address below. Previous address, number and street (if details with UniSuper are different from those above) Suburb/Town State Postcode Country (if not Australia) SECTION 2 Tax file number You don t have to provide your tax file number (TFN), however, if you don t provide your TFN, you may pay more tax than you need to on your lump sum withdrawal. Your tax file number: I don t wish to quote my TFN. SECTION 3 What type of citizenship, residency or visa do you have? Are you an Australian citizen, current or prior permanent resident, New Zealand citizen or holder of a 405 or 410 retirement visa? Yes No. If you re in Australia on a temporary resident visa, you cannot use this form to make a lump sum withdrawal. Please call us on 1800 331 685 for further information. SECTION 4 Conditions of release Please tick one box: I m still employed but wish to withdraw my unrestricted non-preserved benefits.* I ve terminated my employment with an employer who contributed to UniSuper on my behalf and my benefit is less than $200. I ve reached preservation age, have permanently retired from the workforce and never intend to become gainfully employed again on a full or part-time basis. I understand that UniSuper is unable to release my super if my circumstances don t meet this definition, and that they may need to verify my retirement with my most recent employer. I give my express consent for UniSuper to contact my most recent employer if required. I m age 60 but under 65 and an arrangement under which I was gainfully employed has ceased on or after reaching age 60.^ I m age 65 or over. * Note if you re a DBD member, you can only withdraw unrestricted non-preserved benefits if your entire defined benefit consists of unrestricted non-preserved benefits. ^ Note that if you ve returned to gainful employment since the termination of an earlier employment arrangement, the benefit that has accrued since you recommenced employment is preserved and may not be withdrawn until you meet another condition of release. SECTION 5 Your membership type I m an Accumulation 1, Accumulation 2 or Personal Account member - GO TO SECTION 6 I m a Defined Benefit Division (DBD) member - GO TO SECTION 7 SECTION 6 Accumulation 1, Accumulation 2 and Personal Account members Choose one of the following: Full lump sum withdrawal. Go to SECTION 8. Partial lump sum withdrawal (You must leave a minimum of $5,000 in your account)* How much do you wish to withdraw? $,. Please indicate if this is a gross or net amount: Gross (before tax is deducted) Net (after tax is deducted) OR Entire account balance, less $5,000 * If you make a partial lump sum withdrawal, you must leave a minimum of $5,000 in your account. If the amount requested doesn t allow a minimum account balance of $5,000, we ll process your withdrawal and retain $5,000 in your account. Once you ve completed this section, go to SECTION 8. Page 2 of 4
SECTION 7 Defined Benefit Division members Choose one of the following: Full lump sum withdrawal. Go to SECTION 8. Partial lump sum withdrawal (You must leave a minimum of $5,000 in your account)* How much do you wish to withdraw? $,. Please indicate if this is a gross or net amount: Gross (before tax is deducted) Net (after tax is deducted) OR Entire account balance, less $5,000 Please select which component you wish to withdraw (one option only): Defined benefit and accumulation component Defined benefit component only Accumulation component only * If you make a partial lump sum withdrawal, you must leave a minimum of $5,000 in your accumulation account. If the amount requested doesn t allow a minimum account balance of $5,000 to be retained in UniSuper, we won t process your withdrawal. We ll attempt to contact you for further instruction. If you re a DBD member and withdrawal all or part of your defined benefit component, you ll cease to be a DBD member. Any residual DBD component will be transferred to an Accumulation 1 account. Read the attached fact sheet for more information about withdrawals for DBD members. SECTION 8 Payment options There are two types of payment options. Electronic funds transfer (EFT) or cheque. Which payment option would you like? EFT Cheque. If you select cheque, the lump sum withdrawal payment will be forwarded to the address in SECTION 1. PROOF OF IDENTITY UniSuper is required by law to verify your identity. You can quickly and easily prove your identity online you ll know as soon as your identity gets verified. Log in at unisuper.com.au/memberonline and go to `Verify your identity under the `Manage account tab. Alternatively, attach certified copies of proof of identity documentation to this form. Delays can be expected if incorrect documentation is provided. Details about which documents can be accepted can be found in the Your guide to proof of identity fact sheet. SECTION 9 Your financial institution s details Please specify the financial institution account into which your partial or lump sum withdrawal is to be paid.* Financial institution name Postal address Number and street (or PO Box if applicable) Suburb/Town State Postcode Name in which the account is held (Payments can only be made if the nominated bank account is in your name, or is a joint account in your name). BSB number Account number Please ensure that you ve entered your financial institution account details correctly. UniSuper s responsibility is discharged once payment is made to this account. * Cannot be paid to a third party. SECTION 10 Consent to have your identification verified by UniSuper I consent to my personal details being used to electronically verify my identity if paper copies of my certified documents are incorrectly certified or can t be read. I understand my details will be subject to an information match request for relevant record holder information, and that the result will be provided through an external third party system. Page 3 of 4
SECTION 11 Member declaration and signature Please read this declaration before you sign and date your form. I declare that I ve read the Withdrawal fact sheet and the information I ve provided on this form is true and correct. I authorise UniSuper to process my full or partial lump sum withdrawal as instructed on this form. If making a lump sum withdrawal, I understand that tax may be deducted from my payment if I m under age 60. I understand that if I don t provide my TFN, I may be liable to pay additional tax on my lump sum withdrawal (if applicable). I acknowledge that if any details haven t been completed, or if I haven t verified my identity online or provided certified proof of identity documents, my application cannot be processed. If applying to withdraw my benefit after retirement, I understand UniSuper may need to verify my retirement with my most recent employer, and that they ll be unable to release my super if I m found to be still employed. I consent to the disposal of a MySuper interest in circumstances where I have an Accumulation 1, Accumulation 2 or Personal Account, and my instruction to make a withdrawal results in the disposal of an amount held in the Balanced investment option. I understand I must leave a minimum of $5,000 in my account/component if I am requesting a partial withdrawal. -- For Accumulation 1, Accumulation 2 and Personal Account members: if the amount requested doesn t allow for a minimum of $5,000 to be retained, I consent to UniSuper processing the withdrawal and retaining $5,000 in my account. --For DBD members: if the amount requested doesn t allow for a minimum of $5,000 to be retained, I acknowledge that UniSuper won t process the withdrawal. I discharge UniSuper from all further liability, claims and obligations in respect of the benefits paid into my nominated financial institution account, as applicable. I consent to my personal information being used in accordance with UniSuper s Privacy Policy. Signature Date (DDMMYYYY) RETURN YOUR COMPLETED AND SIGNED FORM, AND CERTIFIED COPIES OF YOUR PROOF OF IDENTITY DOCUMENTS (IF APPLICABLE) TO: UniSuper Level 1, 385 Bourke Street Melbourne VIC 3000 Note that certified copies of your proof of identity documents must contain an original signature. We can t accept faxed or emailed copies. To verify your identity through MemberOnline, log in at unisuper.com.au/memberonline and go to `Verify your identity under the `Manage account tab. NEED HELP? For more information: email enquiry@unisuper.com.au, or call 1800 331 685. Privacy statement We recognise the importance of protecting your personal information and are committed to complying with our privacy law obligations. We collect your personal information to administer your account, ensure you re eligible for insurance cover, provide you with UniSuper membership benefits, services and products, verify your identity and improve our products and services. You consent to our collecting sensitive information about you, where collecting that information is reasonably necessary for us to perform one or more of our functions or activities. We usually collect personal and sensitive information directly from you, however, it may also be collected from third parties, such as your employer. We may also collect this information from you because we re required or authorised by or under an Australian law or a court/ tribunal order to collect that information. If you don t provide this information, we may not be able to administer your account, provide you with a product or service or you may be disadvantaged in some other way. We may disclose your information to any service provider we engage (for example mail-houses, auditors, insurers, actuaries, lawyers and research consultants) to carry out or help us provide your membership benefits, services and products. This includes overseas entities. The countries we may disclose personal information to are Japan, Canada and the United States of America. Where information is transferred overseas, we ll seek to ensure the recipient of the data has security systems to prevent misuse, loss or unauthorised disclosure in line with Australian laws and standards. Our Privacy Policy contains information about how you can access any personal information we hold, how to correct your information and how to make a complaint about a breach of the Privacy Act. It s available at unisuper.com.au or by calling us on 1800 331 685. Page 4 of 4