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'Putting members interests first'

The Government has legislated additional measures to 'protecting your super', which will commence on 1 April 2020. 

These measures prohibit superannuation trustees from providing insurance for members from 1 April 2020, for members who:

Members are able to opt into insurance offered by the trustee, by making an appropriate election, by either

Also, the 'putting member's interests first' prohibits a trustee of a regulated superannuation fund from providing insurance to a member of a choice product or a MySuper product from 1 April 2020 where 

There are exceptions to providing insurance to members in dangerous occupations. Super fund trustees are required to notify members if the dangerous occupation exception applies to them.

As you would know, everyone's situation is unique. Members should confirm directly with their super provider the need to make an election to maintain their insurance. Members wishing to make an election should contact their superannuation fund to find out how to make a valid election for that specific fund and circumstance. 

The Money Edge | Bundaberg

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