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Virgin Money Super Key Documents

Take the time to read the important documents below including the Virgin Money Super Product Disclosure Statement, Product Guide and Insurance Guide to understand all the details of the product.

Important Documents

Document Name Description
Product Disclosure Statement This is a summary of Virgin Money Super's important information that you should read in conjunction with the Virgin Money Super Product Guide before making a decision about investing your retirement savings with us.
Product Guide A very, very, very important document for you to read when considering Virgin Money Super as the place to invest your retirement savings. It's where we keep all the little details, including insurance information and should be read in conjunction with the Virgin Money Super Product Disclosure Statement.
Insurance Guide Being protected is important, that’s why with Virgin Money Super, and we offer a range of insurance benefits. Please carefully read our Insurance Guide for full details.
Financial Services Guide Another important document which we are required to give you. This FSG is intended to help you understand who we are, how we work, our relationship with the Administrator, Mercer Outsourcing (Australia) Pty Ltd and the services we will provide you.
Fact Sheet - Accessing your Super Super is for your retirement, and there are restrictions around when and how you can access your super. The "Accessing your Super" Fact Sheet outlines how and when you can access your Virgin Money Super.
Fact Sheet - Beneficiaries If you don't make a binding death benefit nomination (or if it's invalid or has expired when you die), the trustee of Virgin Money Super can decide to pay your super to any of your Dependants and/or your estate in any proportion.
That's why we would like you to tell us who you would like to receive your payout. The "Beneficiaries" Fact Sheet outlines how to nominate your beneficiary.
Fact Sheet - Contributions The "Contributions" Fact Sheet outlines the different types of contributions, when you can make them, the tax associated with them and any limits which may apply.
Fact Sheet - Government Contributions Co-contributions are a Government initiative to help people save for their future. The "Government Contributions" Fact Sheet outlines the details and benefits you may be eligible for.
Fact Sheet - Tax on Super Payouts The "Tax on Super Payouts" Fact Sheet outlines any tax implications that may occur at the time a payout is made from your superannuation fund. It is important you read this and understand how you may be impacted.

Reports

Document Name Description
Annual Report 2016 Annual reports give you an overview of the previous financial years, including performance, legislative changes and what's happening here at Virgin Money Super.
Historical Annual Reports

Annual Reports 2015
2014 Annual Report
2013 Annual Report
2012 Annual Report
2011 Annual Report
2010 Annual Report

MySuper Product Dashboard 2016 Information about the return, risk, and investment mix of the Virgin Money Super options.

Important Information

Document Name Description
Virgin Super Successor Fund Transfer Significant Event Notice

Notice date: 28 October 2016

Nature of event or change:

Successor Fund Transfer (SFT) to the new superannuation fund, Virgin Money Super, a separate plan within Mercer Super Trust.

More information

Impact of the change

The transfer will take place between 28 November 2016 and 12 December 2016. During this period, some of our services will be interrupted and members will not have access to their online account or be able to transact on their account (such as rolling money in, insurance or investment changes, personal contributions, general updates and general withdrawals).

Other impacts include: -

  • Member numbers will change
  • Online account PINs/passwords will change
  • BPAY Customer Reference Number will change
  • All members’ insurance cover and insurance premiums remain unchanged.

From mid-December, Virgin Money Super will be up and running and expected to deliver benefits for members including a simplified product structure, improved LifeStage Tracker® option, a decrease in administration and investment fees, access to personalised superannuation advice and a state of the art online account.

Detailed information relating to these changes can be found here.

Frequently asked questions (FAQs) can be found here.

Virgin Super Transfer Significant Event Notice

Notice date: 22 October 2015

Nature of event or change: Transition to a new administrator, Mercer Outsourcing (Administrator) Pty Ltd (‘Mercer’) effective 1 December 2015.

More information

Impact of the change

All Virgin Super member accounts will be transferred to Mercer’s administration system and for a limited period, this will interrupt some of our services, including members’ ability to submit changes and requests (such as rolling money in, insurance or investment changes, general updates and withdrawals), processing of personal/employer contributions and access to Virgin Super online accounts.

From mid-December, Virgin Super will be up and running again. Members will be able to set up and access their new mobile-friendly online account and other improved services including a personal digital membership card, online rollover tool and more personalised service and basic financial advice.

More Information

Read more detailed information relating to these changes. Read the Frequently Asked Questions (FAQs).

Helpful Information

Document Name Description
Fee Definitions Official SIS Act definitions for each fee type.
Trust Deed Certificate

These are the documents that govern Virgin Money Super.

The trust deed is a legal document that sets out the rules for establishing and operating Virgin Money Super. It includes things such as:

  • Who can be a customer of Virgin Money Super
  • The powers of the Trustee
  • Rules around how the fund will operate
Trustee Policies and Remuneration

These are important documents about the Trustee including conflicts of interest policy, Trustee Remuneration and other important documents.

The documents the way in which the trustee is remunerated by Virgin Money Super to ensure full disclosure for our customers.

Information for employers

Document Name Description
Guide to SuperStream SuperStream is the name of the new government standard for the creation and submission of superannuation contributions data and payments between employers and super funds

More about Virgin Money Super

 

Important stuff

The information above is intended as a guide only. If you are unsure about who you need to make contributions for we suggest you contact the ATO.

As an employer, it's important you fully understand your superannuation obligations as failure to meet these minimum requirements could mean financial penalties from the Government.

QuickSuper is a registered trademark and a product owned and operated by Westpac Banking Corporation ABN 33 007 457 141. Westpac’s terms and conditions applicable to the QuickSuper service are available after your eligibility for the free clearing house service is assessed by Virgin Money Super.

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 Money Super will suit you. Please consider the Product Disclosure Statement, Product Guide, Insurance Guide and Financial Services Guide before making a decision about the product. For further information about the insurance options refer to the Insurance Guide.

The Superannuation Fees described on the Fees page apply from 12 December 2016. Here you'll find the official Superannuation Industry (Supervision) Act 1993 ('SIS Act') definition for each fee type.

While there are no contribution, withdrawal or switching fees, a buy/sell spread applies at a fund level when purchasing and selling units. Other fees and costs may apply such as insurance fees. These are retained by the fund and are not paid to Virgin Money or the Trustee. All fees are inclusive of Goods and Services Tax (GST) and net of Reduced Input Tax Credits (RITC).

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.

It is very important to note that superannuation is generally a long term investment. Past investment performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund. It is very important to note that superannuation is a generally long term investment and that past performance is not indicative of future performance.

Prepared by Virgin Money Financial Services Pty Ltd ABN 51 113 285 395 AFSL 286869. Virgin Money Super is a plan in the Mercer Super Trust ABN 19 905 422 981. Virgin Money Super is issued by Mercer Superannuation (Australia) Limited (MSAL) ABN 79 004 717 533 AFSL 235906 as trustee of the Mercer Super Trust. For more information about Virgin Money Super, please refer to the PDS which is available free of charge on our website or by calling the Customer Care team on 1300 652 770.

Source: https://www.ato.gov.au/About-ATO/Research-and-statistics/In-detail/Super-statistics/Super-accounts-data/Super-accounts-data-overview/

SuperRatings award reflects a funds' value for money, and is awarded based on a rating system of investment, fees and service. SuperRatings does not issue, sell, guarantee or underwrite this product. Go to www.superratings.com.au for details of its ratings criteria.

The amount shown is an estimate only of the Indirect Cost Ratio (ICR) generally expected to apply to these investments for 2016-2017 Financial Year.

Virgin Money Super’s fund returns shown above are net earnings and are calculated after the deduction of applicable taxes and costs. The results are current as at 31 January 2017. These results are provided by Virgin Money Super Asset consultants. It is very important to note that past performance is not indicative of future performance.

The median results are provided by SuperRatings and are current as at 30 June 2016 as a benchmark only. Virgin Money Super has not verified its accuracy so we can’t guarantee that it is correct, and accept no liability for inaccuracies, errors or omissions.

Eligibility crtieria and fees apply. Aged 15-64 Death and Total and Permanent Disablity cover. Automatic Insurance cover is subject to Exclusions including Pre-Existing Medical Condition exclusion. This means that, you won’t be covered for any illness, injury, condition or related symptom that you were aware of or should have been aware of, or had a medical consultation for, were planning to have a medical consultation for, or should have had a medical consultation for in the two years prior to cover commencement. See the Virgin Money Super Insurance Guide for more information.

Automatic Death & TPD cover for Australian residents aged 15-64 with our default insurance offering. Conditions and Exclusions (such as pre-existing medical conditions) apply. See the Virgin Money Super Insurance Guide for more information.

The case studies shown are hypothetical and are not meant to illustrate the circumstances of any particular individual. All claims will be assessed in accordance with the policy terms. In the event of any inconsistency with other material, the insurance policy terms will prevail.
For further information regarding Virgin Money Super’s insurance cover, including terms, conditions and eligibility, please refer to the Insurance Guide which forms part of the Product Disclosure Statement (PDS). The PDS is also available free of charge by contacting Customer Services on 1300 652 770.
This information is of a general nature and has been prepared without taking account of your personal needs, financial circumstances or objectives. Before acting on this information, you should consider the appropriateness of the information, having regard to your needs, financial circumstances and objectives. You should read the relevant Product Disclosure Statement available by calling 1300 652 770 and consider if this product is right for you before making a decision to acquire or continue to hold the product.