1. FAQs for Members

Member FAQs

 

Super basics

Q. How do I contribute extra to my super?

A. There are a number of ways to contribute to your MTAA super account: 

Before-tax contributions

‘Before-tax’ means that super contributions are made from your salary before any income tax has been paid. 

One of the ways you can make before-tax contributions to your super is salary sacrifice.

Salary sacrifice is an agreement between you and your employer to have some of your salary paid into your super, instead of being paid to you. By making salary sacrifice contributions, you may reduce your taxable income and end up paying less income tax as a result.

It’s important to note that salary sacrifice isn’t suitable for everyone. For example, if your income tax rate is 15% or lower, salary sacrifice may not provide you with tax benefits.

Your employer may also reduce your SG amounts. You should check with your employer before making salary sacrifice contributions. 

To set up a salary sacrifice arrangement, you’ll need to arrange it directly with your HR or payroll person. 

There are limits to the amount of before-tax (concessional) contributions you can make. Read more about contribution limits or refer to the Super Guide.

After-tax contributions 

‘After-tax contributions’ are those you make from your take home pay (once income tax has been deducted). 

You can make after-tax contributions as a regular direct debit from your bank account, as a lump sum amount or as a series of contributions. Because this money comes from your after-tax pay, you don’t pay any contributions tax when the money goes into your super account.

There are limits to the amount of after-tax (non-concessional) contributions you can make. Read more about contribution limits or refer to the Super Guide.

To make an after-tax contribution to your super:

Downsizer contributions

If you’re aged 65 or older, you can contribute up to $300,000 from the sale of your home into super.

Downsizer contributions do not count towards your contributions limits. However, they do count towards your $1.6 million transfer balance cap.

The $300,000 limit is per person and can’t be greater than the total proceeds of the sale. For example, if a couple sold their home for $500,000 and one spouse contributed $300,000 to their super, the other spouse could only contribute $200,000. Alternatively, they could deposit $250,000 each.

You or your spouse must have owned the sold property continuously for at least 10 years leading up to the sale and the contract of sale must have been exchanged on or after 1 July 2018. The property sold must be your main residence and be eligible for the main residence exemption for capital gains tax.

Downsizer contributions must be paid within 90 days of your home changing owners. To make a Downsizer contribution, complete the Downsizer Contribution form (available on the ATO website  and provide this to us before or when you make the contribution.

Q. What fees and costs do I pay? 

A. As an industry fund, we exist only to benefit our members. We keep our fees low so you keep more money in your super.
View our fees and costs for:

You can also refer to the Super Guide and Pension PDS for more information about our fees and costs.

Q. How do I find my lost super?

Lost super is money that is yours that you might not be aware of. 

If you think you might have lost super, it may have been transferred to AUSfund (Australia’s Unclaimed Super Fund) or the ATO (Australian Taxation Office).
 
To find lost super you can:

  • Authorise MTAA Super to search for any lost super on your behalf. You can do this by logging into your account via Member SuperSite or by calling us on 1300 362 415.  If we find your lost super, we’ll let you know.
  • Search the AUSfund database at unclaimedsuper.com.au or call 1300 361 798.
    Visit Superseeker on the ATO website at ato.gov.au and follow the instructions.

Q. What happens to my Superannuation Guarantee (SG) contributions when I change jobs?

A. When you change jobs, you can ask your employer to make contributions to your MTAA Super account. However, some awards and agreements have specific fund obligations, so you’ll need to check with your employer whether it’s possible.

You can either:

  • complete the Notification to Employer: Choice of Fund Form and hand it to your employer, 
    or
  • provide your employer with the following Fund details and your MTAA Super member number:
    Fund name: MTAA Superannuation Fund
    ABN: 74 559 365 913
    Unique superannuation identifier (USI): MTA0100AU
    Phone number: 1300 362 415

Q. Can I get financial advice through the fund?

A. We have the people, the resources, and the drive to help you make the most of your retirement – whether that’s online, over the phone, or face-to-face. 

General and limited personal advice
Our field force team can offer general and limited personal advice on topics such as salary sacrificing, choosing the right investment option, and how much insurance you need.  

You can also call us on 1300 362 415 and ask to speak to one of our Financial Education Advice Team (FEAT) members. 

Comprehensive financial advice
Dedicated advisers from Industry Fund Services (IFS) are super specialists, who can give you advice on a range of issues – even the complex ones like taxation and social security entitlements. They’ll take into consideration all your circumstances (personal and financial) when creating your comprehensive financial plan. 

Your initial consultation with an IFS planner will be free. When it comes to preparing a full financial plan, any fees payable are fee-for-service only. The great thing is, there are no commissions or hidden charges – and where your advice applies to your super, the fee can be deducted from your MTAA Super account. 

Get advice
To make an appointment or to get advice over the phone, call us on 1300 362 415.

Investing your super

Q. Do I have control over how I invest my money?

A. Yes. You can choose just one option or spread you super across a mix of our eight investment options. 

To make an investment choice, select an option upon joining the Fund, by logging into your account via Member SuperSite or by completing the Member Investment Choice Form.

If you don’t make an investment choice when you join us, or prefer to leave the decision about how best to invest your super to us, your super will be invested in the My AutoSuper (Balanced) option.

Q. How can I change my investment options?

A. You can change (switch) your investment options at any time. 

To change how your super is invested: 

If more than one switch request is received on the same day (written or online), the form or request received last will be applied.

For more information, refer to the Investment Guide.  

Insurance cover

 
Q. Do I receive automatic insurance cover when I join MTAA Super?

When you become a member, you are automatically provided with default Death and Total and Permanent Disablement (TPD) cover, subject to meeting eligibility requirements. To be eligible for automatic default cover you must:

  • be aged between 25 and 69
  • have at least $6,000 in your account
  • have made an Employer Contribution no earlier than 90 days before you are age 25 and have at least $6,000 in your account. 
  • have not received a TPD and/or Terminal Illness benefit through a super fund or insurance policy at any time previously, and
  • not be currently claiming or be eligible to claim a TPD and/or Terminal Illness benefit.

You may be able to start your default cover earlier by choosing to opt-in to default cover, provided this is the first time you will have cover with MTAA Super.

If you’re not eligible for cover based on these requirements, then you may be paying for cover that you’re not entitled to. To check your eligibility for default cover, call us on 1300 362 415. 

Default insurance cover is provided in units with each unit providing a certain amount of cover, depending on your age and work scale. The amount of cover you have will change depending on your age but the fee you pay for each unit of cover will stay the same. The cost for each unit of default cover is as follows:

 Cover type
 Cost per unit (weekly)  
 Age next birthday 16-26 Age next birthday 27-55 Age next birthday 56-70 
Death $0.74  $0.97  $0.86
TPD $0.55  $1.08  $0.77

MTAA Super, like other super funds is able to claim a 15% tax deduction for the cost of insurance fees incurred by members. The tax deduction will be directly passed back to insured members’ accounts resulting in a lower net insurance fee.

The table below shows the cost and the number of units of cover that are provided when you join:

Your age next birthday Default Death cover Default TPD cover Cost of Cover (per week)
 16-21 1 unit 3 units $2.39
22-26 3 units 3 units $3.87
27-55 6 units 3 units $9.06 
56-70 6 units 3 units $7.47 

You can check your insurance cover by logging into your account via Member SuperSite or calling us on 1300 362 415

Q. Why do I have insurance if I never applied for it? 

A. MTAA Super provides a default level of cover to all members on an opt-out basis

You can opt out of default insurance cover within 30 days of the date you receive your notification that your default cover has commenced. You can opt out of default cover online or by calling us on 1300 362 415.  If you cancel your cover after 30 days have elapsed, you will be liable to pay insurance fees until the date we receive notification from you that you wish to cancel your cover. 

Q. Can I change my insurance cover?

A. You can reduce or cancel your insurance cover at any time by writing to MTAA Super. You can also elect to hold Death only or TPD only cover instead of Death and TPD cover.

You can also apply for additional Death or TPD cover at any time either by nominating an increased number of units or fixing your cover at a set level. 

To apply for more units of cover, complete the Online Application or the Application for Additional Insurance Form. This form outlines all conditions and restrictions regarding cover.

Read more about your insurance options.

Q. What happens to my money in the event of my death?

A. It’s important that you let us know who you’d like to receive your super benefit in the event of your death. 

You can nominate one or more dependants or your legal personal representative as the beneficiary/ies of your death benefit. 

You can make a ‘non-binding’  or a ‘binding’ nomination.

You can make, change or cancel a preferred nomination at any time by logging into your account via Member SuperSite or by writing to us to us.

To make a binding death nomination, you will need to complete the Binding Death Benefit Nomination Form and have the form signed by two witnesses who are not beneficiaries. A binding nomination lasts for three years; after which time you will need to make a new nomination.

Q. How do I make an insurance claim?

A. To make a claim for a Terminal Illness or Total & Permanent Disablement (TPD) benefit, call us on 1300 362 415.

In the event of your death, your legal personal representative or next of kin will need to call us on 1300 362 415.

Access to super

Q.  When can I access my super?

A.  You can access your super:

  • when you reach your preservation age and retire
  • when you are age 60 or over and have ceased an employment arrangement
  • when you turn 65
  • under the transition to retirement rules (if eligible) while continuing to work, or
  • you have become permanently incapacitated at any age.

Temporary Residents: If you are a former temporary resident who has left Australia, you can apply to have your benefit paid out to you. 

For more information, call us on 1300 362 415. 

Q. What is my preservation age?

A. Your preservation age is the age you must reach before you can access your super, and depends on when you were born

Check the following table to see when you can access your super:

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
After 30 June 1964 60

Q. Can I access my super before retirement?

A. There are limited circumstances in which you can access your super before you retire, these include:

  • severe financial hardship
  • certain compassionate grounds
  • a terminal medical condition, or
  • permanent or temporary incapacity.

For more information, call us on 1300 362 415. 

Your details

Q. How do I register for online access?

A. To register for online access:

Go to Member SuperSite

  • Click on ‘Register now’
  • Complete your details including your name, member number and date of birth.
  • If you need help logging in, call us on 1300 362 415.

Q. How can I update my contact details?

A. It’s important that we have your current contact details so we can keep in touch with you about your super and so your account doesn’t become lost and get transferred to the Australian Taxation office (ATO). 

To update your details:

 

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