Eligible Rollover Fund
In accordance with superannuation legislation, we have nominated an Eligible Rollover Fund (ERF) to receive small inactive accounts from us.
Our nominated ERF is AUSfund, Australia's Unclaimed Super Fund.
We may transfer your benefit to AUSfund if your account balance is less than $500, and either your account has not received any contributions for over 12 months, or we have been unable to contact you for over 24 months.
These terms may be altered in the future. However, we will write to you if we intend to transfer your benefit to AUSfund, and outline the full terms of the proposed transfer.
AUSfund can be contacted by calling 1300 361 798, by writing to PO Box 2468, Kent Town SA 5071, by sending an email to admin@ausfund.net.au or visiting its website at www.unclaimedsuper.com.au.
The remainder of this webpage tells you a bit more about AUSfund.
AUSfund aims to:
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return small and lost superannuation accounts to members' active superannuation accounts
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locate missing superannuation contributions paid to the Australian Taxation Office
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provide efficient administration and investment of members' superannuation benefits.
AUSfund is a complying superannuation fund.
AUSfund fees and charges
- Account balances of $50 or more: the administration fee is $10 per year (or part year if a member exits the fund before the end of the year)
- Account balances of less than $50: no administration fee applies
- No entry or exit fees
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No agents' commissions
Indirect investment management fees are deducted from gross fund returns before interest is credited to members' accounts. Accounts with a balance of less than $50 are not charged an administration fee and they do not earn interest.
Protecting your account
All members' accounts are protected from erosion by administration fees in accordance with the Superannuation Industry (Supervision) Act 1993. This is known as 'member protection'. Under the member protection rules, in any financial year the administration fee deducted (not including government taxes and investment management fees) cannot exceed the interest credited.
However, there is one exception to the above member protection requirement. In any review period when total investment earnings to be distributed to members are less than the total administration fees to be deducted from members' benefits, member protection does not apply in the manner described above. In such a period, the administration fee of $10 may be deducted from account balances.
Cross fund matching
AUSfund is committed to re-uniting people with their active super. They look for lost members' addresses in various ways, including through the services of Baycorp Advantage.
AUSfund also regularly checks with partner super funds to find active accounts for its members. If they find a match, they send your unclaimed super money to your active super fund and notify you in writing.
They also work with the Australian Taxation Office and use their SuperMatch service to find matches with unclaimed Superannuation Guarantee vouchers and the ATO's Superannuation Holding Account Reserve.
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