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Member Online Help

Account balance

Account balance

Your account balance is calculated by multiplying the number of units you have in each investment option by the unit price for each option. As the unit prices are calculated on a daily basis, the value of your account may change daily.

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Account type

Account type

If you are in the Sunsuper for life product you’ll have access to both a Super-savings account to help save for your future and an Income account for when you are transitioning to retirement or when you have retired.

If you are in the Sunsuper for life Corporate product, you’ll have access to both a Super-savings account to help save for your future and an Income account for when you are transitioning to retirement or when you have retired. The account name that will appear in Member Online will be your Corporate plan name.

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Asset class / Asset mix

Asset class / Asset mix

Each investment option offered by Sunsuper invests in one or more asset classes. Some examples of asset classes include shares, property, fixed interest and cash.

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Beneficiary

Beneficiaries

In the unfortunate event of your death, the Sunsuper Trustee is required to pay your death benefit to your beneficiaries or where there is no eligible beneficiaries, any person who has a fair claim.

There are different types of beneficiaries that Sunsuper members can nominate:

Beneficiary type

There are two types of beneficiaries you can nominate during your membership: Preferred and Binding. If you open an Income account or top up an existing Income account, you also have the option to nominate a Reversionary beneficiary.

Binding beneficiary

A binding death benefit nomination ‘binds’ the Trustee to pay your death benefit to the nominated beneficiaries.

Preferred beneficiary

If you nominate a preferred beneficiary the Trustee will use this as a guide in deciding how to pay your death benefit.

Reversionary beneficiary

A reversionary beneficiary will continue to receive your income payments if you die. You can only nominate your spouse or your de facto as a reversionary beneficiary. You cannot nominate your legal personal representative. Only Sunsuper members with an Income account are eligible to nominate a reversionary beneficiary.

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Changing jobs

Changing jobs

When you start a new job, you can take Sunsuper with you. In most cases, you don’t have to go along with the super fund that your employer has picked for you – even though it may seem that way. You have the right to choose.

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Concessional contributions

Concessional contributions

Concessional contributions are pre-tax amounts made to Sunsuper and are taxable to the fund for income tax purposes. Concessional contributions include all employer contributions (including salary sacrifice), as well as self-employed or personal contributions for which you claim an income tax deduction.

Concessional contributions - Annual cap

The maximum amount of concessional contributions you can make to super in a year that will benefit from concessional tax treatment is capped.

Your annual concessional contributions cap is determined based on your age for the related financial year.

Financial Year Age under 50 Age 50-59 Age 60 and over
2016-17 $30,000 $35,000 $35,000
 2017-18 $25,000  $25,000  $25,000
2018-2019   $25,000  $25,000  $25,000

Check out the Australian Taxation Office (ATO) website for more information about contribution caps.

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Contributions

Employer compulsory

For eligible members, employers are required to pay an amount into your account known as Superannuation Guarantee. Generally, you're entitled to super guarantee contributions from an employer if you're 18 years or older and your employer pays you $450 or more (before tax) in a month.

Government co-contributions

If you pay your own money into super and your salary is below a certain limit, you can receive a free top up to your super from the Federal Government. If you are eligible for a co-contribution simply make a voluntary after-tax contribution to your super account and the Government will add the co-contribution to your account after you lodge your tax return.

Low Income Superannuation Tax Offset (LISTO)

If your income is $37,000 or less the Government could boost your super savings by giving you a low income super contribution. If you're eligible the LISTO is paid directly to your super fund.

This scheme replaces the Low Income Superannuation Contribution (LISC).

Salary sacrifice

You may be able to arrange with your employer to have part of your before-tax salary paid straight into your super. This can provide tax advantages for some people. If your employer doesn’t allow salary sacrifice, you may be able to make a voluntary after-tax contribution then claim a tax deduction. Caps apply to the amount you can contribute to super.

Voluntary

Are also known as after-tax or non-concessional contributions. If you make a voluntary contribution and are eligible for the Government co-contribution, it will be paid into your account after you lodge your tax return. You can also choose to claim a tax deduction for voluntary contributions, though you would not be eligible for the co-contribution on amounts for which a deduction was claimed.

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Dates

Up To Date

This date reflects the latest date which Sunsuper has posted the specified transaction activity for your account within the selected financial year.

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Fees

Administration fees

Sunsuper charges an administration fee to manage your account.

For Super-savings accounts, the administration fees are generally deducted from your account balance weekly.

For Income accounts, the flat administration fee is generally deducted from your account balance weekly. The percentage administration fee is generally deducted from your account balance monthly.

Check the Product Disclosure Statement for more information.

Advice fee

If you receive personal advice from a Sunsuper financial planner or a Sunsuper approved external planner, you may be charged a fee. This fee varies depending on the type of advice, but you will be told the fee before you receive the advice. If you receive advice about your Sunsuper account, the fee may even be deducted from your account balance.

Family law legislation fees

Sunsuper will charge reasonable fees for things we are required to do in relation to family law legislation. These fees currently range between $45 and $135, depending on the nature of the work.

Fees

Fees and other costs may be deducted from your account, from the returns on your investment, or from the fund assets as a whole. Check the Fees and other costs sections of your Product Disclosure Statement for more information.

Investment fees

Sunsuper charges an investment fee to cover the costs of investing and managing your investments. Investment fees are deducted daily from the investment option prior to the calculation of daily unit prices. Check your Product Disclosure Statement for more information.

Member benefit protection fee rebate

This was abolished 1 July 2013, however it may be applicable to previous financial years. The former MBP measures meant funds had to credit a 'rebate amount' to member accounts under $1,000 so that administration fees will generally not investment returns. If the MBP amount applies to your account it will be listed in the fees section on the Transaction history detail page.

Exit fees

The fee on each amount you take out of your investment. There is no fee for regular income payments or for partial lump sum withdrawals from Income accounts. The fee is deducted from your Super-savings account balance when you make a lump sum withdrawal and from your final withdrawal amount from either a Super-savings account or an Income account.

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Insurance

Benefit exclusion

The insurer may specify a benefit exclusion that will apply if a claim for additional insurance is related to a specified condition or pastime. This means the insurer will not pay an additional insurance benefit if a claim relates to any specified exclusion.

Benefit Period

Benefit Period means the maximum period of time for which benefits will be paid for any one period of Total Disability, Limited Total Disability or one period of Total and Partial Disability.

Death cover

If you die or become terminally ill, you or your dependents or beneficiaries may receive a lump sum, helping them to pay any debts or bills and provide ongoing income.

Income Protection cover

Provides an income while you are unable to work due to illness or injury to help you pay your expenses while you focus on your health and recovery.

Insurance

Sunsuper provides access to flexible Death, Total & Permanent Disability and Income Protection insurance to keep you protected 24 hours a day, 7 days a week if something unfortunate were to happen to you. You have the flexibility to make sure your cover is right for you. Sunsuper offers easy ways for you to change your cover, apply for cover or cancel your cover.

Insurance premiums

Premiums are calculated weekly and normally deducted from your account each month.

Starter cover

When you join, if you’re eligible you will automatically receive Starter cover, which provides an introductory level of Death and Total & Permanent Disability Assist cover.

Starter White Collar cover

If you are eligible and work in a White Collar role 50% more automatic Death and Total & Permanent Disability Assist Starter cover is provided for the same cost, and a reduced premium for Opt In Income Protection cover if applicable.

Booster cover

Once your Super-savings account balance grows to $6,000 or more, your Starter cover and premium is automatically doubled.

Opt in Income Protection cover

Provides an income while you are unable to work due to illness or injury to help you pay your expenses while you focus on your health and recovery.

Tailored cover

Tailor your insurance to suit your needs. Having the right level and type of cover provides some assurance of a secure financial future for you and your family. You can apply for Tailored Death cover, Tailored Total & Permanent Disability cover or Tailored Income Protection cover. For more information, refer to the Sunsuper for life Insurance guide (or corporate Insurance guide for corporate members).

Tailored Income Protection cover

Provides an income while you are unable to work due to illness or injury to help you pay your expenses while you focus on your health and recovery.

Total & Permanent Disability cover

If you are Totally & Permanently Disabled and meet the Total & Permanent Disability definition, you may receive a single lump sum payment, helping you to fund any special medical needs, and assist with your costs of living. Refer to Sunsuper for life Insurance guide for details (or corporate Insurance guide for corporate members).

Total & Permanent Disability Assist cover

If you are suffering from long term injury or sickness we may provide early intervention and occupational rehabilitation support. Where you are Totally & Permanently Disabled and you continue to meet the Total & Permanent Disability Assist definition, you may receive up to six annual payments over a minimum of five years to help you pay any debts and bills and fund disability related expenses such as home modifications, rehabilitation and special medical needs. In some circumstances, Total & Permanent Disability Assist may be paid as a single lump sum payment.

Limited Cover

Limited Cover means you are only covered for claims arising from a sickness which first Manifests itself or an injury which occurred on or after the date your cover commenced, most recently commenced or increased (where applicable) under the policy and was not related to the condition that occurred before the date your cover commenced, most recently commenced or increased (where applicable) under the policy.

"Manifests" means that the symptoms exist which would cause an ordinary prudent person to seek diagnosis, care or treatment, or that medical advice or treatment has been recommended by or received from a Medical Practitioner.

Waiting Period

A Waiting Period is the number of continuous days which you must remain off work due to an injury or illness before the Total Disability benefit or Partial Disability benefit begins to accrue. The Waiting Period commences from the date you are Totally Disabled and unable to work, as certified by a registered Medical Practitioner.

White Collar cover

If you are eligible and work in a White Collar role you can apply for 50% more automatic Death and Total & Permanent Disability Assist cover for the same cost, and a reduced premium for Opt In Income Protection cover.

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Lifecycle Investment Strategy

Lifecycle Investment Strategy - Super-savings accounts

Sunsuper's Lifecycle Investment Strategy is designed for members who want to generate wealth over the long term, and gradually transition to lower risk investments as they approach age 65. For more information, refer to the Investment guide.

The Lifecycle Strategy is not available in Income accounts.

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Last logged in

Last logged in

This indicates the last time (prior to this session) that your member number was used to log into Member Online. The date and time are based on Australian Eastern Standard Time (AEST). This information is an extra security measure that can help alert you in the highly unlikely event that an unauthorized user has logged into your account without your knowledge.

If you feel the date and time shown do not match when you last logged into Member Online, please call us on 13 11 84.

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Net investment earnings

Net investments earnings

For Super-savings accounts, net investment earnings is the amount of money your investment has made, or lost, over the year and is after investment fees and tax have been deducted.

For Income accounts, net investment earnings is the amount of money your investment has made, or lost, over the year and is after investment fees have been deducted.

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Pension payment details

Maximum I can take

There are no maximum limits on Retirement income accounts. For Transition to retirement income accounts, a maximum annual payment limit of 10% of your balance applies.

Minimum I must take

Each year we will ask you to choose the amount for your income payments for the next financial year. The amount you choose will have to be between any minimum or maximum payment limits which apply to your type of Income account. If you don’t choose an amount on setup of your Income account, you will be paid the minimum income amount for your type of account.

The Minimum percentage factors table below shows the percentage factor used to calculate the minimum pension amount each year.

Minimum percentage factors table

Calculations are made, based on your age and your Income account balance on joining and at 1 July each year.

Age Percentage factor
Less than 65 years 4%
65 - 74 years 5%
75 -79 years 6%
80 - 84 years 7%
85 - 89 years 9%
90 - 94 years 11%
95 years or more 14%

Net pension payments

Your income payment less any taxes you may pay if you are under 60 years of age.

Next payment amount

The amount you can expect to be paid the next time a payment is made from your Income account.

Pension lump sum withdrawals

For Retirement income accounts, the minimum cash lump sum withdrawal is $2,000 or account balance if less than $5,000. For Transition to retirement income accounts, lump sum withdrawals are not generally available. Members under age 60 may pay tax on when they take a lump sum from their Income account. Check the Sunsuper for life guide for more information.

Money that is moved back from your Income account into your Super-savings account as part of a top up is also shown as a lump sum withdrawal, but does not count towards your minimum and maximum annual withdrawal limits (if these apply to you).

Pension payment details

Income payments provide a regular income stream for your retirement from your super. You can choose to take your payments fortnightly, monthly, quarterly, half-yearly or yearly. The payment will be paid directly to an account in your name with a bank, building society or credit union. You may change the frequency of payments at any time. If you don’t tell us how often you would like your payments we will make your payments monthly.

If you choose to have your income payments paid fortnightly you will generally receive your payment every second Wednesday.

If you choose to have your income payments paid monthly, quarterly, half-yearly or yearly you will receive your payment by the 11th day of each month your payment is due.

Proportionally

If you're invested in more than one investment option (with the exception of the Today and Tomorrow strategy), you can nominate specific percentages of more than one investment option, and your payments will be made from those investment options according to the percentages you nominate.

Where the money comes from

The investment option your income payments will be paid from.

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Income account rebalancing your portfolio

Income account rebalance option

If you select two or more investment options using the build your own investment strategy, you may wish to rebalance your Income account portfolio on a periodic basis. Rebalancing simply means bringing the weighting of each investment option in your portfolio back into line with your original selection by moving money from one option to another.

Your weighting of investment options gets out of line when some investments perform better than others. Sunsuper offers an automatic rebalancing service for your Income account that reweights your investment options back into line with your original selection. Buy/sell spreads may apply.

You can choose between an automatic rebalance frequency of:
twice yearly - we will rebalance your account on or around 31 March and 30 September (the rebalance dates) each year using the unit price for that day, or
annually - we will rebalance your account on or around 31 March (the rebalance date) each year using the 31 March unit price.

If the rebalance date happens to fall on a non-business day, your rebalance will be processed using the unit price for the next business day. Rebalance requests received before 3pm Brisbane time on the rebalance date, will be processed for that date. Rebalance requests received after this time will be processed for the next nominated rebalance date.

If you make an investment switch in the future, you will need to renominate your choice of how often your account is rebalanced. You may need to seek financial advice to help you manage your portfolio and ensure you have the right asset allocation.
The automatic rebalancing service is not available if you have selected the Today and Tomorrow strategy.

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Adding money to your Income account

Adding money to your income account

In order to add money to your Income account Sunsuper will need to close your existing account and restart it to include the new funds. To add money to your Income account, you need to pay the extra money into your Super-savings account first. When you let us know, we will combine the money in your Super-savings account with the money in your Income account and use the combined money to start a new Income account in your name (a minimum extra amount of $10,000 applies). Add money to your income account online.
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Preservation components

Preservation components

Your preservation components show how much of your super benefit is available now, when you leave your employer, or when you retire.

Preserved

The amount of your super benefit that is available to you when you retire after reaching your preservation age.

Restricted non-preserved

The amount of your super benefit that is available to you when you leave your employer.

Unrestricted non-preserved

The amount of your super benefit that is available to you now, if you request it.

Preservation age

Preservation age is the Government-specified age at which you can gain access to your superannuation benefits, provided you have permanently retired from the workforce.

Your preservation age depends on your date of birth as shown below.

Date of birth Preservation age
Before 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
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Sunsuper for life

Sunsuper for life

A super solution that will help you manage your super from your very first day of work and throughout your retirement. Sunsuper for life gives you access to both a Super-savings account to help save for your future and an Income account for when you are transitioning to retirement or when you have retired. Check your Product Disclosure Statement for more information.

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Sunsuper Business

Sunsuper for life Business

Sunsuper for life Business is a product of the Fund available to eligible employees of particular employers. Check the Sunsuper for life Business Product Disclosure Statement for more information.

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Sunsuper Corporate

Sunsuper for life Corporate

Sunsuper for life Corporate is a product of the Fund available to eligible employees of particular employers. Check the Sunsuper for life Corporate Product Disclosure Statement for more information.

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Tax

Contributions tax (also known as the Superannuation Concessional rate)

A Federal Government tax (15%) that is applied to most superannuation contributions made by employers and some members.

No TFN Tax

If you did not provide us with your TFN a 32% no-TFN contributions tax is applied to your employer contributions including salary sacrifice. If you provide us with your TFN, we may be able to claim this amount back from the ATO and refund it to your account. Any refund will be shown as NO TFN tax rebate.

Tax

Super can be a tax-effective way to build up investments to fund your retirement. Understanding how these taxes work will help you maximise your benefits. Check the Sunsuper for life guide for more information on the tax treatment of your Income account.

Tax File Number (TFN)

A TFN is a unique number issued to each taxpayer by the Tax Office. When you join Sunsuper, we ask you to provide us with your TFN. You don’t have to give it to us, but if you don’t you could pay more tax than you need.

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Today and Tomorrow strategy

Today and Tomorrow strategy – Income accounts

Sunsuper's Today and Tomorrow strategy is a simple and effective strategy which provides you with peace of mind for today and the opportunity for strong growth for tomorrow by investing: an amount equal to twice the annual income payment amount you nominate in the Cash investment option, and the rest of your Income account in our Retirement investment option.

Your income payments are initially paid from the Cash investment option until there are no longer enough funds to make your regular payment, and then they are paid proportionally across your account.

You can only select the Today and Tomorrow strategy when starting a new Income account, or when topping up your existing Income account.

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Transfers and roll-ins from other funds

Transfers and roll-ins from other funds

Roll-ins or transfers we have received for you from other superannuation funds.

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Unit prices

Buy-sell spread

Investment options have an entry unit price and exit unit price. When money is invested in an investment option, the entry unit price is used to buy units in the investment option. When money is withdrawn from an investment option, the exit price is used.

The difference between the entry and exit prices is called a buy-sell spread. The buy-sell spread is the cost charged by some investment managers for transaction costs in buying and selling the underlying assets of the investment option. We do not add a margin to the buy-sell spreads charged by the investment managers.

Sunsuper does not currently charge a buy-sell spread for any of our investment option. However, we reserve the right to apply a buy-sell spread at our discretion.

Effective date

Unit prices are generally calculated for each business day for each investment option based on the latest available value of net assets in each option at the close of business for that day. The unit price for a specific business day is normally calculated on the next business day.

Entry unit price

When money is invested in an investment option, the entry unit price is used to buy units in the investment option.

Exit unit price

When money is withdrawn from an investment option (for example to pay for a fee), the exit unit price is used.

Number of units

The number of units you buy is equal to the amount you invest (less contributions tax if applicable) divided by the unit price.

Unit prices

When you invest in an investment option, you buy ‘units’ in that option. Each unit has a dollar value or ‘unit price’. The number of units you buy is equal to the amount you invest (less contributions tax if applicable) divided by the unit price.

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Withdrawals and roll-outs to other funds

Withdrawals and roll-outs to other funds

Withdrawals or roll-outs out of your account including any payments made to the ATO for amounts in excess of contribution caps.

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