Important Changes to Insurance & Your Super
Your Super – From July 1st 2019 there will be major changes to superannuation, including the removal of important life and permanent disability insurance, and the transfer of untouched superannuation funds to the ATO.
These changes will impact workers on:
- extended parental leave or sick leave
- workers with a superannuation balance of less than $6,000
- workers who have not made a contribution to their superannuation for 16 months (since February 2018)
If you do not contact your super fund by June 30 to opt-in to these insurances and instruct your fund to keep your account active – your insurances will be cancelled and any funds transferred to the ATO. Contact your super fund now!