• Significant event notices

  • Australian Catholic Superannuation has an ongoing responsibility to inform members about any 'significant events' or 'material changes' to the Fund, particularly when the outcome will have a fundamental impact on their retirement savings.

    Such events can include:

    • Changes to fees and costs
    • Changes to benefit design, such as insurance cover and premiums
    • A decision to transfer benefits without member consent.


    significant event notice clearly outlining the nature and effect of the event or change will be issued to all affected members. Timings for communication of these notices are as follows:

    • Change or event that does not relate to an increase to a fee or charge will be sent as soon as possible, but not later than three months after the change or event occurs.
    • Change or event that does increase a fee or charge will be sent at least 30 days before it occurs.


    A summary of each significant event or material change notice issued to members within the past two years is listed in the table below.

    Date

    Notice sent to

    Summary of notice

    Nov 2016

    All members

    Changes to investment fees effective 1 November 2016.

    • Fee increases to Property and International shares
    • Fee decreases to; Conservative, MySuper Balanced, Growth, Conservative Balanced and Australian Shares
     
    Nov 2016

    All members

    Changes to insurance effective 1 November 2016.

    • Reduction in the maximum level of Death cover and Terminal Illness benefit
    • Changes to underwriting requirements
     
    Nov 2015

    All members

    Changes to fee rebates effective 1 January 2016.

    Aug 2015

    All members

    Changes to investment management fees for the Growth, MySuper Balanced, Conservative Balanced and Conservative investment options effective 1 October 2015.

    Aug 2015

    All members

    Changes in the return objectives for each investment option effective 1 October 2015.

    Aug 2015

    All members

    Renaming of some investment options effective 1 October 2015:
    1. Diversified Shares will be renamed ‘Shares’
    2. Diversified Property will be renamed ‘Property’
    3. Diversified Fixed Interest will be renamed ‘Bonds’
    4. Cash will be renamed ‘Cash and Term Deposits'.

    Aug 2015

    All members

    Introduction of single unit pricing where the buy-sell spreads will reduce to zero effective 1 October 2015.

    Nov 2014

    Employer sponsored superannuation members below age 65 who have not opted out of insurance cover

    Changes to insurance arrangements effective from 10 January 2015:

    • Changes to income protection (temporary salary continuance) (IP) cover for casual members
    • Increase in the IP automatic acceptance limit
    • Increase in the IP maximum cover.
     
    Nov 2014

    All members

    Changes to estimated investment management costs.

    May 2014

    All superannuation members below age 70 who have not opted out of insurance cover

    Changes to insurance arrangements effective from 1 July 2014, including:

    • Insurance premium increase
    • New definition of 'Totally and Permanently Disabled' (TPD definition)
    • Improved worldwide cover.
     
    Sep 2013

    All members who had amounts 'transferred’ from the Balanced investment option to MySuper Balanced

    Notification of the dollar amount attributed to each member’s account in the MySuper Balanced investment option.

    Sep 2013

    All members

    Changes to fees and costs from 1 November 2013.

    May 2013

    All members

    Removal of member protection from 1 July 2013.

    Mar 2013

    Members who experienced a change in their investment option or insurance cover as a result of the introduction of MySuper

    • Overview of MySuper.
    • Explanation of the nature of the changes that would affect each group of members.
    • Member specific information on any changes to:
       
      • their investment option
      • fees and costs
      • insurance cover.
       
     
    Need more information?

    If you would like more information about any of the events listed above and whether they may have had an effect on your account in the Fund, call us on 1300 658 776.