If you have worked in Australia as a temporary resident and you have permanently left the country, you may be eligible to claim the super benefit you have accumulated while working here, less any tax. The payment is called a Departing Australia Superannuation Payment (DASP). A DASP can be claimed if:
• You visit Australia on an eligible temporary resident visa; and
• Your visa ceases to be in effect (it has expired or been cancelled); and
• You leave Australia.
If you are a temporary resident and you permanently leave Australia, you have six months to claim your super benefit. If you do not claim it within this time it will be transferred to the Australian Taxation Office (ATO) as unclaimed money. If that happens, you will need to contact the ATO to claim it. For more information, visit the ATO website at www.ato.gov.au/super.
IMPORTANT: If you are a former temporary resident whose superannuation benefits is transferred to the ATO as unclaimed money, you will not be notified of this or receive an exit statement after the transfers occurs. We will rely on relief provided by the Australian Securities & Investments Commission (ASIC) Class Order [CO 09/437] which says, in effect, that superannuation trustees are not obliged to meet certain disclosure requirements in relation to non-residents that have ceased to hold an interest in the fund as a result of the payment of unclaimed superannuation to the Commissioner of Taxation. If you require any further information, contact us on 1300 658 422.
Yes. Future Super takes part in the Trans-Tasman Portability Scheme. Get in touch with us at email@example.com to find out how.
We do! We send out statements annually, however if you need one in the meantime, send us an email at firstname.lastname@example.org and we’ll do our best to get an interim statement to you within 2-3 business days.
You can request a rollover in the join form (if you’re not yet a member) or by sending in our rollover form. We’ll get in touch with your other fund to transfer your super across, which automatically closes your old account. Rolling over your superannuation from another fund may result in your losing insurance or other benefits linked to your previous fund.
If you only want to transfer part of your savings in another account, simply enter the exact amount to rollover in the space provided on the rollover form. Or you can call us on 1300 658 422 or email email@example.com to let us know how much you want transferred.
Yes! We run a SuperMatch search (using your tax file number) with the ATO to find your old accounts. You can elect to consolidate your accounts when you sign up. or complete a rollover form when you’re ready.
Consolidating your super helps you keep track of your retirement savings, and may help in avoiding multiple sets of fees. It is possible that you may lose insurance or other benefits linked to your previous fund, so ensure you are making an informed choice based on your own financial objectives, situation and needs.
When you join we’ll send you an email which you can forward to your employer. It will have all the details to help them make payments to your account.
We offer the following types of opt-in insurance covers: Death only, Death and Total & Permanent Disability, and Income Protection.
You're able to apply for Death or Death & TPD insurance cover by answering a few simple questions when you sign up online or via the member portal. To apply for Income Protection insurance cover, get in touch with us on 1300 658 422 or at firstname.lastname@example.org. If you have existing cover with another super fund, you may be able to transfer this cover to your Future Super account. Get in touch with us to find out.
See our insurance guide for all the details and consider seeking financial advice to ensure you are making an informed choice based on your own financial objectives, situation and needs.
Note: Insurance is not available for pension account holders.
A fossil fuel free super fund is one that doesn’t invest its members’ money in companies involved in the mining, burning or extraction of fossil fuels.
A fossil fuel free fund also avoids investing in companies that provide significant and specific services to the fossil fuel industry, such as transportation or finance.
We are the first truly fossil fuel free super fund in Australia.
We do not invest in companies or activities causing social or environmental harm, including detention centres, live animals exports, tobacco, armaments and more.
Instead, we seek out positive investments in industries like renewable energy, healthcare and IT.
Find out more about our ethical screens.
If you’re unsure about whether one of these options is suitable for you, you should seek financial advice to ensure you are making an informed choice based on your own financial objectives, situation and needs.
A beneficiary is someone you want to receive the money in your super account if you die. You can make a binding or non-binding nomination. You'll find the relevant forms here:
You can make extra contributions to your super account by completing the online personal contribution form available in the member portal and then making a payment via direct transfer or BPay. Your personal payment details (like your BPay reference number) will be provided to you as you complete the form.
An annual contribution cap applies to personal contributions, and if you breach this cap, you may be required to pay additional tax. For more information, see our Additional Information Booklet. You can also call 1300 658 422 or email email@example.com with any questions.
If your employer is having any troubles contributing to Future Super, they can get in touch with us directly.
Just pass on our contact details: 1300 658 422 or firstname.lastname@example.org.
To contribute to your super as a self-employed person, simply complete the online Personal Contributions form available in your member portal.
To claim these contributions for tax purposes, you need to complete the notice of intent to claim or vary a deduction for personal super contributions form. You'll need to do this once per financial year for all the contributions during that financial year.
You have one year from the end of the relevant financial year within which to submit your notice of intent.
Yes. You need to organise salary sacrifice contributions directly with your employer. They will pay your salary sacrifice when they make your regular super guarantee contributions.
Superannuation is a compulsory government scheme to help you save for retirement. Your employer makes contributions and you can contribute to it yourself if you like. This money is then invested on your behalf by your super fund.
One of the benefits of super is that it is designed to be a tax effective way to save for your retirement, with contributions and investment earnings in your super fund taxed at a lower rate than your normal earnings. You can access the money in your super fund when you reach your preservation age, which is usually the age at which you retire from working.
Super is intended to fund your retirement, so you can generally only access it once you have permanently retired from working or you have otherwise met a condition of release.
Generally, you’re able to access your super if:
• You have reached your 'preservation age' and retire permanently retired from the workforce;
• You leave your employer after turning 60;
• Be You are 65 or older (whether or not you are retired); or
• You satisfy another ‘condition of release’
For information about your preservation age and other conditions of release, see our Additional Information Booklet. You can also call 1300 658 422 or email email@example.com with any questions.
Find out when you can access your super using Money Smart’s super and pension age calculator.
The money in your super account is invested on your behalf, so it is important to make sure the way it is invested aligns with your values and long term goals.
Some things to consider are: Does your super invest in things that go against your values? Is your fund transparent about where your investments are held? Is the risk profile suitable for your needs? (Remember super is a long term investment. The money in your account may be invested for 30 years or more).
For people who earn more than $450 per month, their employer will make payments to their super account which is equal to 9.5% of their salary.
Many people have multiple accounts, so it is important to tell your employer about your Future Super account if you want their contributions to be invested with us on your behalf.
Some employers pay more than the minimum 9.5%, but its not allowable for employers to pay less than this. These payments will be shown on your payslip, but most employers only transfer this money to your super fund every 3 months.
Contributions made by your employer (including salary sacrifice) are taxed at 15% (which is lower than the rate for normal earnings).
Any personal contributions you make with your after-tax income are not taxed again in your super account if they are under the non-concessional contributions cap. This is to encourage you to save more for the future.
Most people have the option of choosing their own super fund. All you need to do is provide your employer with the details of your preferred super fund.
If you don’t specify a super fund, your employer will create an account for you with their default super fund. A small number of Australians are not eligible to choose their super fund, due to Enterprise Agreements with industry funds.
You will need to speak to your employer to find out if this is your situation - we have seen some instances where employers will allow you to use a Future Super fund even if they don’t generally allow choice.
If your employer does not give you a choice, we run an Annual Rollover Program. Our staff will help you to roll over the portion of your savings that aren’t required to be with your employer’s choice of fund. This ensures that as much as possible of your retirement savings are invested in a manner that matches your values.
To find out if you’re eligible for your for this program, get in touch with us. This program is not available for people in defined benefit schemes and may affect insurance policies held with mandatory funds.
A Future Super pension account allows you to draw a regular income from your retirement savings while investing them in line with your values.
You can choose to get monthly, quarterly, half-yearly or annual payments and you can usually choose how much you receive (within the mandated minimums outlined in the PDS).
A Future Super pension account allows you to draw a regular income from your retirement savings while investing them in line with your values.
You can choose to get monthly, quarterly, half-yearly or annual payments and you can usually choose how much you receive (within the mandated minimums and maximums outlined in the PDS).
An Account-Based Pension is a simple, single account for those who have already retired and will no longer be making contributions to their super. You can receive flexible payments (subject to age-based minimums) on a timeline that suits you, and make lump sum withdrawals at any time.
To establish a pension account, you must satisfy a ‘condition of release’ which allows you to transfer your super account to a pension account from which you can access your money.
For most people, the relevant condition of release will be that they have reached their preservation age and have permanently retired from the workforce.
Other conditions of release which may be a relevant reason for starting a pension are:
• You reach age 65 (whether or not you have retired);
• You leave your employer after turning age 60; or
• You become permanently incapacitated.
A pension account needs an initial minimum investment of $20,000. This initial investment can be rolled over from your current super account, pension account or personal bank account. It’s important to remember that you can’t contribute to this once it has been established.
You can view your account online anytime via the member portal. You can also call 1300 658 422 or email firstname.lastname@example.org with any enquiries, and we’ll do our best to respond within 2-3 business days.
Most simply, divestment is the opposite of investment. It is the process of selling off stocks, bonds or other investments for either moral or financial reasons.
Fossil fuel divestment is the process of selling off shares in fossil fuel companies - companies that mine, burn or extract fossil fuels. Future Super also includes companies that finance or service the fossil fuel industry, such as Australia’s big four banks.
The fossil fuel divestment movement is a social movement dedicated to removing the social licence of the fossil fuel industry by moving as much money out of fossil fuel companies as possible.
As well as individuals divesting their personal finances, many different organisations have also committed to divest. These include universities, churches, city councils, philanthropic organisations, insurance companies, and huge sovereign wealth funds.
Find out more about the fossil free movement here at Go Fossil Free.
In the words of Bill McKibben, environmentalist and founder of 350.org, “if it’s wrong to wreck the planet, it’s wrong to profit from the wreckage”.
If that’s not enough, divestment is also a really powerful way to influence the big end of town. Money talks when money walks and by moving our money out of fossil fuels, we’re standing up to the fossil fuel industry and to a government that’s getting pretty cosy with coal. Through divestment we’re removing the social licence of the fossil fuel industry, and their huge political influence.
To divest your personal finances, such as your superannuation or banking, simply open an account with your chosen fossil free fund and transfer your savings across. When you close your old account, don’t forget to tell them why you left! Remember while your super balance might not seem significant, Australia has over $2 trillion in super, so together we can make big change!
Start the switch to Future Super here. In only a few minutes you’ll be fossil fuel free.
To find out what your super fund’s exposure to fossil fuel investments is, look them up on SuperSwitch. SuperSwitch is an independent resource by non-profit group Market Forces to help Australians find out how their super is fuelling climate change.
To find out about your fund’s investments in other industries, it’s best to contact them directly.
Aside from the basics, you’ll just need your tax file number (TFN) so we can match it up with ATO records.
You'll get an SMS to activate your Future Super member portal and set a password.
We'll match your information with the ATO's records and instantly find any old or lost super accounts. Easy peasy!
Say goodbye to fossil fuels, and hello to a renewable energy powered future!