Looking after your super.

• Q. How do I make contributions?
  • A. There's a few ways you can make contributions to your super. The main way is through your employer, but you can also make your own. If you have a spouse, they can make contributions for you as well.
    
    More on making super contributions.
    
    
• Q. How do I figure out my fees payable?
  • A. Fees you pay.
    We charge a $1 per week member fee and a management fee where you get a discount once your account balance hits $25,000. The table below spells it out a bit more – you’ll see that for the first $25,000 of your balance you’ll be charged at the low 1%. But from there the rate discount kicks in. The longer you’re with us, the more potential you have for a healthy super balance. (And hey, consolidating all your super with us may also help!)
    If you're working out how much maintaining your super is really going to cost you, remember to check out transaction costs as well.
    
    

    Management Fee
    Covers ongoing management of your investment	$1,000 – $25,000 x 1% p.a $25,001– $250,000 x 0.8% p.a $250,001 and over x 0.6% p.a	It’s calculated on the value of your month end account, and will now be deducted monthly, instead of quarterly, from your super account or when you withdraw it.
    Member Fee
    Covers member admin and communications	$1 per week	It’s deducted monthly from your super account.

    
    

    Fees you don't pay

    Fee	Description	Amount
    Establishment fee	The fee to open your investment.	Nil
    Contribution fee	The fee on each amount contributed to your investment – either by you or your employer.	Nil
    Withdrawal fee	The fee on each amount you take out of your investment.	Nil
    Termination fee	The fee to close your investment.	Nil
    Switching fee	The fee charged for changing investment options.	Nil
    Additional investment fee	The amount you pay for specific investment options.	Nil

• Q. How do I figure out my transaction costs?
  • A. When we buy or sell investments for you there are brokerage and tax costs. Buying and selling happens when you contribute (buy), withdraw (sell) or switch (buy & sell).
    
    The cost is between 0.036% and 0.25% of the amount being 'transacted', depending on your investment choice.
    
    For example, if you contribute $1,000 to the Lifestage Tracker Aggressive Under 40's mix you're actually buying an investment, and it'll set you back $2.50.
    
    If you switch $1,000 from the Select Your Own Cash/Fixed Interest investment option to the Select Your Own Property option, you're both selling and buying investments. It'll cost you $0.36 to leave Cash/Fixed and $2.50 take up the Property option.
    
    

    Transaction costs

    Investment options	Spread applied to buy/sell price
    Life Stage Tracker 100% Growth	+/- 0.250%
    Life Stage Tracker 85% Growth	+/- 0.218%
    Life Stage Tracker 70% Growth	+/- 0.186%
    Life Stage Tracker 50% Growth	+/- 0.143%
    Life Stage Tracker 20% Growth	+/- 0.079%
    Select Your Own – Cash/Fixed Interest	+/- 0.036%
    Select Your Own – Property	+/- 0.250%
    Select Your Own – International Shares	+/- 0.250%
    Select Your Own – Australian Shares	+/- 0.250%

• Q. How do I access the cash?
  • A. Federal Government rules prevent you from accessing your super benefit until you retire from the workforce and have reached your preservation age.
    
    You can access your super in the following circumstances (conditions may apply):
    
    1. You leave employment and your benefit is less than $200;
    2. You leave gainful employment after the preservation age (normally 60);
    3. You become totally and permanently disabled;
    4. You experience severe financial hardship and meet certain requirements;
    5. You have compassionate grounds for needing the money, as approved by the Australian Prudential Regulation Authority (APRA);
    7. You're a temporary resident on a specified class of visa and you permanently depart Australia.
    
    Read more in what happens when I die?
    
    If you have any questions call our Customer Care Team on 1300 652 770, 8am - 6pm (EST), Monday-Friday.
• Q. How do I switch to Virgin Super?
  • A. First you need to get hold of any old member numbers and fund names from your old super statements.
    
    You need these for filling in the forms.
    
    If you're not a Virgin Super member, join online and tell us you want to rollover an old super account.
    
    If you're already part of the Virgin Super gang (nice one!), you'll need to download and fill in our Virgin Super Rollover Form. (PDF 99Kb) -  If you have more than one fund you'll need to complete a form for each one.
• Q. How do I switch investment options?
  • A. What can I do?
    
    1. switch between Life Stage Tracker® options;
    2. change your asset allocation between the four major asset classes in Select Your Own; or
    3. switch between Life Stage Tracker and Select Your Own.
    
    What can't I do?
    Be in both Life Stage Tracker and Select Your Own at the same time.
    
    Does this cost anything?
    Yes, you'll need to pay transaction costs.
    
    So, how do I switch my investments?
    You can do this one of two ways, online or in writing.
    
    1. Log in to the members site and select 'change and rebalance'. Then simply make your choice of investments; or
    2. Fill in a Change Your Investment Choice form (PDF 74Kb) and mail it to us at Virgin Super, Locked Bag 8, Haymarket, NSW 1236.
    
    Please remember, there may be transaction costs.