Highlighted results for search term

FAQs - Superannuation

Looking for an answer? Here you'll find our most Frequently Asked Questions. If you can’t find what you’re looking for, call our friendly Customer Care Team on 1300 652 770 (8am to 6pm AEST, weekdays). Super. Solved.

Top FAQs for Individuals

A.
  1. Join now by completing our straightforward online application form
  2. Once you’ve received your welcome email with your member number, just head to your online account to request a rollover of your other super into your new account – no paperwork or hassle.
A.
You can switch between our two products at any time:
  • Virgin Super Essentials: in which your current balance as well as your future contributions will be invested in our Life Stage Tracker® Balanced investment option
  • Virgin Super Plus: in which you’ll be able to choose from the more conservative cash/fixed interest asset classes through to the potentially riskier and higher-returning Australian and international shares, as well as from our LifeStage Tracker® options (Balanced and Aggressive), which automatically adjust your asset mix as you get older. You also have the flexibility of applying a different investment mix to your existing Super balance and your future contributions. When already in Virgin Super Plus, you can also change your investment mix between the four major asset classes and our LifeStage Tracker® options

Just log into your online account to manage your investment choices.
A.
Virgin Super offers all members Automatic Insurance, designed to provide cover for Death and Total and Permanent Disablement (TPD).
  • Death cover: provides a lump sum cash payment upon death or if you're diagnosed with a terminal illness.
  • Total and Permanent Disablement (TPD) cover: provides a lump sum cash payment if you're permanently unable to work due to illness or injury. You can only take up TPD with death cover (i.e. not on a standalone basis).

Provided you are an Australian Resident (or hold an Australian Visa entitling you to residency or employment) aged between 15 and 64, you are automatically eligible for cover under this insurance option and do not need to provide us with any information about your medical history or lifestyle. We will determine the level of insurance cover that will automatically apply to you based on your age.

  • Income Protection (IP) cover: If you're unable to work after a 90-day waiting period, Income Protection insurance pays up to 75% of your salary in monthly benefits.

If you wish, you can apply for a specific or higher amount of Death and/or TPD, as well as applying for Income Protection through our Tailored Insurance Application form.

Find out more information about Insurance.
A.
Head straight to the Australian Tax Office website and use their SuperSeeker tool to find lost super. It only takes a minute and you just need your Tax File Number handy. (If you'd rather do it over the phone, call the ATO on 13 28 65).
If you're wondering what makes super ' lost', it's if there's a super account in your name that hasn't had any deposits made in the last 12 months, or if your super fund gets a couple of return-to-sender notices after they've tried to reach you. When this happens, the ATO is informed, and your 'lost' record is added to their register.
You can rollover your lost super to your Virgin Super account via your online account in just a couple clicks - no paperwork or hassle.
A.
You can probably still stay with Virgin Super if you are starting a new job. All you need to do is download and complete the Super Choice Form, give it to your new employer and they can start putting your Super Contributions into your Virgin Super account.

Things you should know
Before you rollover or consolidate your superannuation, you should check to see if insurance or other benefits will be impacted or lost. Some funds may also charge withdrawal or exit fees. You should consider our Product Disclosure Statement which can be found on our website. Please note this information does not constitute personal financial product advice, and you may wish to consult your financial adviser before making a decision about whether Virgin Super fits your objectives, financial situation and needs.
A.
You'll you need to complete the Super Choice Form and pass it to your HR Department so they know you want your 9.5% employer contributions paid into your Virgin Super account.

Things you should know
Before you rollover or consolidate your superannuation, you should check to see if insurance or other benefits will be impacted or lost. Some funds may also charge withdrawal or exit fees. You should consider our Product Disclosure Statement which can be found on our website. Please note this information does not constitute personal financial product advice, and you may wish to consult your financial adviser before making a decision about whether Virgin Superannuation fits your objectives, financial situation and needs.

See all FAQs for Individuals

 

Top FAQs for Employers

A.
If you have a registered company and employees, we can make setting up your company super smooth and trouble-free.

If you think Virgin Super might be right for your company, there are a couple of things you can do.
  1. Read more about Virgin Super for Employers.
  2. Make Virgin Super your default fund via our online application form

Or give us a call on 1300 855 040; we'd love to talk to you about your options.
A.
StrongerSuper is the Federal Government's package of reforms designed to make Super better, fairer and more efficient. StrongerSuper changes started on 1 July 2013.

Among those changes, since 1 January 2014, employers must pay contributions into a superannuation fund that has a MySuper authorised product which is a low cost product for members who haven't made a super fund choice.
Virgin Super Essentials is Virgin Super's authorised MySuper offer.

Another important change is SuperStream which aims to improve the efficiency of Australia's superannuation system, and requires employers to send contributions electronically in a standard format with linked data and payments.
If Virgin Super is your default fund we can provide you with details about how to comply with SuperStream using our preferred Clearing House.
A.
If your business has 20 or more employees:
You need to be SuperStream compliant when making contributions from 31 October 2015.
Employers have options for meeting SuperStream – either using software that conforms to SuperStream; or using a service provider who can meet SuperStream on your behalf.
Your options may include:
  • Upgrading your payroll software
  • Using an outsourced payroll function or other service provider
  • Using a commercial clearing house.

If Virgin Super is your default fund we can provide you with details about how to comply with SuperStream using our preferred Clearing House.
For more information you can also check our SuperStream guides.
A.
If your business has 19 or fewer employees:
You need to be SuperStream compliant when making contributions from 30 June 2016.
Employers have options for meeting SuperStream – either using software that conforms to SuperStream; or using a service provider who can meet SuperStream on your behalf. We recommend that you start investigating your options now.
Your options may include:
  • Upgrading your payroll software
  • Using an outsourced payroll function or other service provider
  • Using the free Small Business Superannuation Clearing House – Find more details and register online from the ATO's website.

If Virgin Super is your default fund we can also provide you with details about how to comply with SuperStream using our preferred Clearing House.
 
Important note: Contribution payments by cheque are no longer available.
A.
If your business has 19 employees or less (employed on a full-time, part-time or casual basis) or an annual aggregated turnover of less than $2 million, you can register for free from the ATO's website.
You'll then only have to make one electronic payment each contribution period and the clearing house will distribute payments to each employees' nominated superannuation fund, including Virgin Money, on your behalf.

 

See all FAQs for Employers

 

Join Virgin Super

Contact us.

Call 1300 652 770

8am-6pm AEST,
Mon-Fri

 

This information is of a general nature only and does not take into account your personal financial situation, needs or objectives. As we don’t know your financial needs we can’t advise if Virgin Super will suit you. Please consider the Product Disclosure Statement and Financial Services Guide before making a decision about the product.

 

Prepared by Virgin Money Financial Services Pty Ltd ABN 51 113 285 395, AFSL 286869. The Trust Company (Superannuation) Limited ABN 49 006 421 638, AFSL 235153 is Trustee for Virgin Superannuation ABN 88 436 608 094.Virgin Superannuation ABN 88 436 608 094.