Support and FAQs

Find answers to common questions here.

What is superannuation? What is Baby Bump? What is a clearing house? How do I check up on my account? How can I certify my ID? I’m on parental leave. What support do you provide? Can I see what employee contributions I made on your website? What is an Account-Based Pension? Where can I find my member statement? What is my preservation age? Can I pay multiple employees’ super contributions in one payment? I can't log in to the Member Portal. What do I do? What is a condition of release? Can I access my super early? How much do I need to start a pension account? How do I access my super due to financial hardship? Employer contributions & tax At what age can I start a pension? When can I access my super? Can I choose my super fund? Can I access my super under the First Home Super Saver scheme? How do I join Future Super? How do I get my employer to pay contributions to Future Super? I’m self-employed. How do I make contributions? Does Future Super allow salary sacrifice contributions? What is divestment? How do I find out how much exposure to fossil fuels my current super fund has? What does Future Super invest in? Does Future Super offer insurance? Who can I nominate as a binding beneficiary? How do I apply for Insurance? What are Future Super’s recent returns? How are the premiums paid? How do I cancel or alter my insurance cover? Aside from fossil fuels, what other ethical screens does Future Super have? Is there a minimum amount I need to withdraw each year from my pension? How does divestment work? How much superannuation is my employer required to pay? Where is my statement located? Concessional and non-concessional contributions How do I join Future Super’s pension fund? I've changed my name. How do I update my personal details? My employer requires a letter from you stating that you are a complying fund and able to accept employer contributions. What is this? How do I update my contact details? Where can I find out information about fees? Why is tax taken from my account? How do I nominate a beneficiary? What are Future Super's returns like? How do I find my Tax File Number? How can I call you while I'm overseas? How does super work for temporary residents of Australia? What investment options does Future Super have? Am I able to transfer my KiwiSaver into Future Super? Do you send out member statements? How to transfer your old super How do I make personal contributions to my account? My employer is having trouble contributing to Future Super. What can I do? How does a pension work? How to roll over your existing super through MyGov Can I pay employees’ super contributions by cheque? Can I sign my employees up to Future Super? What is a beneficiary? Can I contribute to my super account if I'm over 65? What is the work test? What is the Downsizer contribution? Does my employer have to make super contributions if I'm under 18? What are my fees paying for? Difference between binding and non-binding nominations What is the work test exemption? What is a unit price? Can I make employer contributions outside of a clearinghouse? How much super do I need to pay? How do I pay super contributions? What is SuperStream? What information do I need to pay employer contributions via a clearing house? Oops! I've overpaid employer contributions. How can I request a refund? Common issues when paying by clearing house What is your ABN and USI? How do I submit a notice of intent to claim my personal contribution as a tax deduction? Do I need my annual member statement to complete my tax return? How do I vary the amount included in a previous Notice of Intent for a personal contribution? When should I submit a Notice of Intent for a personal contribution? What’s the deadline to make personal contributions for the 2020/21 financial year? What’s the deadline to make personal contributions for the 2020/21 financial year?

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Superannuation Basics

What is superannuation?

Superannuation is a compulsory government scheme to help you save for retirement. Your employer makes contributions and you can contribute to it yourself if you like. This money is then invested on your behalf by your super fund.

One of the benefits of super is that it is designed to be a tax-effective way to save for your retirement, with contributions and investment earnings in your super fund typically taxed at a lower rate than your normal earnings. Super is saved for your retirement and can be accessed when a condition of release is filled.

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Can I choose my super fund?

Most people have the option of choosing their own super fund. All you need to do is provide your employer with the details of your preferred super fund. If you don’t specify a super fund, your employer will likely create an account for you with their default super fund.

A small number of people are not eligible to choose their super fund, due to Enterprise Agreements with industry funds.

You will need to speak to your employer to find out if this is your situation.

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Divestment

What is divestment?

Put simply, divestment is the opposite of investment. It is the act of selling assets for moral, political or financial reasons.

Divestment is an effective tactic for influencing positive change. Famous examples include divestment from South Africa in the former era of apartheid, divestment of the Arms Trade, and Tobacco industry divestment.

Future Super is part of the fossil fuel divestment movement. Fossil fuel divestment is the process of selling off assets in companies that mine, process or burn fossil fuels. Future Super has also divested from companies that provide finance or services to the fossil fuel industry, such as Australia’s big four banks.

The fossil fuel divestment movement is dedicated to moving out of fossil fuel companies. This undermines the social licence of the industry by telling them that they are no longer welcome to continue operating.

As well as individuals divesting their personal finances, many different organisations have also committed to divest. These include universities, churches, city councils, philanthropic organisations, insurance companies, and huge sovereign wealth funds.

Find out more about the fossil free movement here at Go Fossil Free.

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How do I find out how much exposure to fossil fuels my current super fund has?

To find out what your super fund’s exposure to fossil fuel investments is, you can look them up on SuperSwitch. SuperSwitch is an independent resource by non-profit group Market Forces to help people find out how their super is fuelling climate change. If they're not listed on here or have not disclosed their exposure, you can contact them directly.

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Aside from fossil fuels, what other ethical screens does Future Super have?

We take a wholistic approach to investing that covers a wide range of ethical issues. We do not invest in companies or activities that cause social or environmental harm, such as detention centres, live animal export, tobacco, and armaments, to name a few. This is known as ‘negatively screening’ companies.

Further to this, we also seek out positive investments in industries that provide benefits for the environment, society and the economy. These investments include renewable energy and energy efficiency, water and resource conservation, healthcare, education, electric transport, green infrastructure and more. This is called ‘positive screening.’

Money is powerful, and we believe that applying both negative and positive ethical screens to the assets we consider investing in will provide us with an investment portfolio that will build a world free from climate change and inequality.

You can find out more about how we invest on our website.

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How does divestment work?

Divestment serves two purposes. Firstly, divestment delegitimises those businesses that use the power of money to cause harm. For example, in countries where the fossil fuel industry has a firm hold on all parts of society (through political lobbying, the funding of policy think tanks, etc.), divestment erodes the industry's dominance and creates the space needed for change to happen.

Secondly, divestment is most effective when coupled with re-investment. At Future Super, it is our mission to ensure that our members’ money is building a future worth retiring into. By allowing our members to invest in line with their values, Future Super aims to fast track the transition away from coal and into a future free from climate change and inequality.

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Joining

How do I join Future Super?

The easiest way to join Future Super is through our online join form. It takes just a couple of minutes. You can also join over the phone on 1300 658 422.

For all the important information needed to make an informed decision about joining Future Super please read our Product Disclosure Statement and the Additional Information Booklet.

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How do I find my Tax File Number?

If you don't know your Tax File Number, you might be able to find it by:

  • Looking at your income tax notice of assessment or other letters from the ATO
  • Looking at a payment summary (provided by your employer)
  • If you have a myGov account linked to the ATO, you can access your TFN online

If you still can't find it, phone the ATO on 13 28 61, 8.00am to 6.00pm, Monday to Friday.

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Rolling over

Am I able to transfer my KiwiSaver into Future Super?

Yes. Future Super takes part in the Trans-Tasman Portability Scheme. Get in touch with us at info@futuresuper.com.au to find out how.

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How to transfer your old super

If you have super with another fund and you would like to move this money to Future Super, here’s how to do it:

Rollovers through MyGov

  1. Head to the MyGov portal and log in.
  2. Open the Australian Taxation Office page under Your Linked Services (If you haven’t linked your ATO account then you’ll need to do this first).
  3. Click on the Super tab, select Manage and then select Transfer super.
  4. A list of your funds including ATO held super with their last reported balances will show up. Select the accounts you’d like to transfer from and the account you’d like to transfer to (i.e. from ABC super to Future Super).

Requesting a rollover through us

1. Login to the Future Super Member Online Account.
2. Click ‘consolidate your super’ in the Overview section

3. Enter the other fund’s details
       -  Super fund name  
       - USI (Unique Superannuation Identifier) which you can find on this website 
       - ABN (Australian Business Number)
       - Whether you’d like to roll over your full balance, or a partial amount (please specify a dollar amount for partial rollovers); and 
       - Your member number with the other fund

Please note this will automatically close your old account as well as any insurance policy or other benefits attached to it. You should consider this before making a decision to rollover

The rollover can take 3-7 business days to process. We will send an email confirmation as soon as the funds arrive in your Future Super account. You will also be able to see this within your Member Portal.

The above information is general information only and does not take into account any person’s financial objectives, situation or needs. We recommend that you seek professional financial advice tailored to your own personal circumstances before deciding to rollover to Future Super.

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How to roll over your existing super through MyGov

If you have super with another fund and you would like to move this money to Future Super, here’s how to do it:

  1. Head to the MyGov and log in.
  2. Open the Australian Taxation Office page under Your Linked Services (If you haven’t linked your ATO account then you’ll need to do this first).
  3. Click on the Super tab, select Manage and then select Transfer super.
  4. A list of your funds including ATO held super with their last reported balances* will show up. Select the accounts you’d like to transfer from and the account you’d like to transfer to (i.e. from ABC super to Future Super)

* There will be an 'as at' or 'effective' date for the balance shown. In a lot of cases, it will be 30 June 2019 as funds are only required to report to the ATO once a year. This means your actual account balance may have changed since it was last reported to the ATO, and may be higher or lower than shown on ATO online. Performing a rollover using MyGov will transfer the actual full balance in the account as at the date of rollover request.

Please note that rolling a full balance over to Future Super will close your other super account and cancel any insurance that you hold through this account.

We’ll take care of the rest! We usually receive rollovers in 3–7 business days and we will send you a confirmation email as soon as we do. The processing time to roll over ATO held super varies and is subject to the ATO’s timeframes.

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Investments and returns

What does Future Super invest in?

When we launched in 2014, Future Super was the first super fund to not invest in fossil fuel companies and remains the only super fund to screen out diversified fossil fuel companies and companies providing significant services and financing to the fossil fuel industry.

At Future Super we use a three-step process to ensure your money is invested in companies that can both grow your super savings and build a better world. You can see our strict ethical screens here.

First, out with the bad: our negative screen rules out harmful and destructive industries like fossil fuels, detention centres, live animal export, nuclear, tobacco and more.

Second, in with the good: our positive screen ensures we actively seek out companies that are doing social and environmental good, such as renewable energy, healthcare, education and IT. You can view a full list of the companies we invest in here.

Finally, our team look for positive industries like solar farms and other impact investments to add to the portfolio. Our renewable energy portfolio includes the Bald Hills Wind Farm in Victoria and the Lake Bonney battery in South Australia.

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What are Future Super's returns like?

Read about our most recent returns here.

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What investment options does Future Super have?

Future Super has three investment options: Balanced Index, Balanced Impact and Renewables Plus Growth.

If you’re unsure about whether one of these options is suitable for you, you should seek financial advice to ensure you are making an informed choice based on your own financial objectives, situation and needs.

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What is a unit price?

Future Super is a unitised fund, which means that every time you make a contribution you are issued units in the fund. The unit price for all members of the fund (the value of a unit) is calculated every week day and changes based on the value of the assets the fund invests in, as well as the fees and taxes that are due. As the unit price fluctuates so too will your balance, as your balance is calculated as the number of units you hold multiplied by the unit price on any particular day.

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Contributions and payments to your super

Employer contributions & tax

Australian employers are required by Government legislation to make superannuation contributions for their eligible employees. These are called Employer Superannuation Guarantee (SG) contributions.

Generally, you’re entitled to super guarantee contributions from your employer if you’re 18 years old or over and earn more than $450 (before tax) per month. It doesn’t matter whether you’re full time, part time or casual, or if you’re a temporary resident of Australia.

If you’re under 18 years old, you must work more than 30 hours per week to be entitled to super contributions.

If you're a contractor, you may still be entitled to super from your employer. You can read more about super contributions for contractors here.

Your employer’s super contributions may be shown on your payslip but often employers will transfer this money to your super fund every 3 months.

Many people have multiple accounts, so it is important to tell your employer about your Future Super account if you want your employer’s contributions to be invested with us on your behalf.

Contributions made by your employer (including salary sacrifice) are taxed at 15%. As this rate is lower than most people’s marginal income tax rate, these contributions are called Concessional Contributions.

Read more about contributions tax here.

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How do I get my employer to pay contributions to Future Super?

When you join Future Super we’ll send you an email which you can forward to your employer. It will have all the details to help them make payments to your account.

If you’re already a member and have just switched jobs, simply pass on our Standard Choice Form and General Compliance Certificate, and direct them to our Employer Hub.

They may need our USI (45 960 194 277 010), ABN (45 960 194 277) and your member number to pay super contributions to your account.

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I’m self-employed. How do I make contributions?

To contribute to your super as a self-employed person, simply:

  1. Submit the online Personal Contribution Form from your Member Portal. This allows our administrators to allocate your payment into your account, as all payments go into the one bank account. Alternatively, you can submit our downloadable Personal Contribution Form.
  2. Transfer the money to us using the bank account or BPAY details in the personal contributions form. You can either pay using BPAY or direct deposit if you're paying from an Australian bank account.

To claim your personal contributions for tax purposes, you need to complete the Notice of intent to claim or vary a deduction for personal super contributions form. You'll need to do this once per financial year for all the contributions during that financial year.

You have one year from the end of the relevant financial year within which to submit your notice of intent.

For more information, this blog article contains a handy guide to making personal contributions to your Future Super account.

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Does Future Super allow salary sacrifice contributions?

Yes. You need to organise salary sacrifice contributions directly with your employer. They will likely pay your salary sacrifice when they make your regular super guarantee contributions.

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How much superannuation is my employer required to pay?

Employer Superannuation Guarantee (SG) contributions are presently 9.5% of a person’s ordinary time earnings (subject to a maximum dollar limit).

Some employers pay more than the minimum 9.5% but its not allowable for employers to pay less than this.

You can read more about employer contributions here.

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Concessional and non-concessional contributions

Non-concessional contributions

Non-concessional contributions are able to be made to your account from your after-tax income and are not taxed when entering the fund.

There is a non-concessional contribution cap of $100,000 per financial year. You can read more here.

Concessional contributions

Concessional contributions are taxed at a 15% rate and are made to your account from pre-tax income. These contributions include those made by employers from your pre-tax income and self-employed people who may wish to make contributions from their pre-tax income and claim a tax deduction for those contributions. Members of other types of employment can also make personal concessional contributions.

The general concessional contributions cap is $25,000 per financial year. You can read more here.

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My employer requires a letter from you stating that you are a complying fund and able to accept employer contributions. What is this?

To be able to pay super contributions on your behalf, your employer may ask you to provide a letter from us stating that we are a complying fund and that we can accept employer contributions. This document is also known as the General Compliance Certificate.

Our General Compliance Certificate contains all the fund details which your employer may need to set up superannuation contribution payments.

This certificate can be found on the Forms page and on the Employer section of our website.

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Why is tax taken from my account?

The super contributions your employer makes from your before-tax income (concessional contributions) are taxed at 15% by the Australian Taxation Office (ATO).

This tax component is displayed in your transaction history as 'Contributions Tax' and is sent to the ATO by Future Super regularly.

Note - If you exceed the concessional contributions cap of $25,000 in a financial year, the excess will be taxed at the top marginal tax rate. Read more about excess contributions tax here.

The super contributions you make after-tax (non-concessional) are not subject to tax unless you exceed the cap of $100,000 in a financial year. If you exceed the cap the excess will be taxed at the top marginal tax rate.

For more information on how super contributions are taxed please see the ATO's website.

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How do I make personal contributions to my account?

You can make additional contributions to your super account by completing the online personal contribution form available in the your Member Online account and then making a payment via direct transfer or BPAY.

Your personal payment details (like your BPAY reference number) will be provided to you once you complete the form.

If you wish to claim your personal contributions for tax purposes, you will need to complete a Notice of intent to claim or vary a deduction for personal super contributions form. You can read more about this here.

Note - An annual contribution cap applies to personal contributions, and if you breach this cap, you may be required to pay additional tax.

For the 2020/21 financial year,  the  contribution caps are $100,000 for non-concessional contributions (contributions made from after-tax income which you do not claim a tax deduction for), and  $25,000 for concessional contributions (taxed contributions), per financial year.

These contribution caps will change on July 1 2021. For more information on contribution caps and the upcoming changes, please refer to this ATO webpage.

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My employer is having trouble contributing to Future Super. What can I do?

First, you may wish to double-check your employer has all the correct details. This includes:

  • Your member number (you find this by logging into your member portal, in your welcome email, or on your member statement)
  • Fund name: Future Super or Future Super Fund
  • ABN: 45 960 194 277
  • USI: 45 960 194 277 010

This information can be found in our Employer Hub.

If your employer is still having trouble contributing to Future Super, they can get in touch with us directly by callings us on 1300 658 422 or emailing us at info@futuresuper.com.au.

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Can I contribute to my super account if I'm over 65?

Your Employer will be able to make Superannuation Guarantee (SG) contributions into your super fund for as long as you remain working and earn more than $450 (before tax) per month.

If you are between 65 - 74 years old and wish to make additional voluntary contributions, you will need to satisfy the work test or work test exemption.

Note - For the 2020-21 financial year onwards, this applies if you are 67–74 years old.

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What is the work test?

You may be required to satisfy the work test if you are between 65-74 years old and wish to make additional contributions to your super. From 2020-21 financial year onwards, this will apply for people between 67-74 years old.

Work test

The work test requires you to be gainfully employed for at least 40 hours during a consecutive 30-day period during each financial year in which the contributions are made.

If you meet the work test, you can make the following types of contributions:

  • Voluntary contributions paid by your employer, such as salary sacrifice contributions
  • Personal contributions made by you
  • Contributions made by someone other than you, such as your spouse.

If you do not satisfy the work test you may still be able to make additional contributions to your super if you meet the work test exemption.

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What is the Downsizer contribution?

If you are aged 65 or over and have recently sold your home, you may be able to make a voluntary super contribution of up to $300,000 from the proceeds of sale.

Downsizer contributions do not count towards contribution caps and you will not need to meet the work test.

However, Downsizer contributions do count toward the $1.6m transfer balance cap for transferring super into the retirement phase.

There are a number of requirements to assess your eligibility for the Downsizer contribution. You can read more about the eligibility requirements on the ATO website here.

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Does my employer have to make super contributions if I'm under 18?

If you are under 18, you generally have to work more than 30 hours per week and earn more than $450 (before tax) per month to be entitled to super contributions.

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What is the work test exemption?

If you are between 65-74 years old and wish to make additional contributions to your super, and do not meet the work test, you may be required to meet the conditions for the work test exemption. From 2020-21 financial year onwards, this will apply for people between 67-74 years old.

The work test exemption allows you to make voluntary contributions for an additional 12-month period from the end of the financial year in which you last met the work test. The work test exemption applies if your super balance is less than $300,000.

You cannot have relied on the work test exemption in a previous financial year.

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How do I submit a notice of intent to claim my personal contribution as a tax deduction?

If you wish to claim your personal contributions as a tax deduction, you need to complete a Notice of intent to claim or vary a deduction for personal super contributions form. You can do this once per financial year for all the contributions during that financial year.

You can submit the form to us by email to info@futuresuper.com.au. Once your notice of intent to claim a tax deduction has been applied to your contribution, we will email you a letter of acknowledgement for the receipt of a valid notice for your tax records.

If you need to vary your notice, please review this information before submitting the form again.

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Do I need my annual member statement to complete my tax return?

No. You will only need confirmation that your personal contribution and your Notice of intent to claim or vary a deduction for personal super contributions has been applied to your account.

You may wish to consult the ATO, an accountant or a financial advisor for appropriate advice on completing your tax return.

Please also refer to the article ‘How do I submit a notice of intent to claim my personal contribution as a tax deduction?’ for more information.

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How do I vary the amount included in a previous Notice of Intent for a personal contribution?

If you want to increase the amount you intend to claim as a deduction, you can do so provided you haven’t completed the tax return for the financial year in which you have made your contributions. You will need to lodge a second notice specifying the additional amount you wish to claim. For question 10 of the Notice of intent to claim or vary a deduction for personal super contributions form, ‘Is this varying an earlier notice?’ in section C, please place an ‘X’ in the ‘No’ box.

If you want to reduce the amount you intend to claim as a deduction, you will need to lodge a variation to your original notice of intent sent to us. The variation replaces a previous valid notice and shows the amount of the contributions which you now want to claim as a tax deduction. For question 10 of the form ‘Is this notice varying an earlier notice?’ in section C, place an ‘X’ in the ‘Yes’ box.

Please note that you can only vary a previous valid notice if we hold the full contribution covered by the previous valid notice, and you are still a member of the fund. We are not able to amend your notice for any contributions made to any previous super fund prior to rolling over your funds with us.

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When should I submit a Notice of Intent for a personal contribution?

If you want to submit a Notice of intent to claim or vary a deduction for personal super contributions form, you must submit this at the earlier of either:

  • Before the end of the day that you lodge your income tax return for the income year in which the personal contributions were made; OR
  • Before the end of the income year following the year in which the contribution was made.
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What’s the deadline to make personal contributions for the 2020/21 financial year?

If you intend to make a personal contribution and have this included in your contributions cap for the 2020/2021 financial year, you will need to do so before 5pm on the 25th of June, to ensure it reaches your account in time.

If you miss the deadline, we can’t guarantee that the contribution will be processed in time to be included in your contributions cap for the 2020/2021 financial year. You can contact us at info@futuresuper.com.au or 1300 658 422 for further assistance.

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What’s the deadline to make personal contributions for the 2020/21 financial year?

If you intend to make a personal contribution and have this included in your contributions cap for the 2020/2021 financial year, you will need to do so before 5pm on the 25th of June, to ensure it reaches your account in time.

If you miss the deadline, we can’t guarantee that the contribution will be processed in time to be included in your contributions cap for the 2020/2021 financial year. You can contact us at info@futuresuper.com.au or 1300 658 422 for further assistance.

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Fees

What is Baby Bump?

Baby Bump is a refund of the annual dollar-based administration fee for the time you are on parental leave, up to a maximum of 12 months (equivalent to $93.60).

We created Baby Bump for two reasons:

  • Employers don't have to pay super when you take parental leave, and
  • Primary carers (who are historically mostly women) are more likely to take parental leave than other carers.

These two factors contribute to the startling gender inequality in super - that, on average, women retire with 42%* less super than men. So Baby Bump is Future Super’s baby step towards making super more fair for our members.

You don't have to be the birth parent to take advantage of our Baby Bump policy however. If you have welcomed a new child into your family and taken parental leave or left work to care for that child, you can apply for the Baby Bump regardless of your gender.

For more information on eligibility and how to apply please see this page.

*See Closing the super gender gap (Philip Clark for ABC 2021)

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I’m on parental leave. What support do you provide?

Future Super supports those on parental leave through a program called Baby Bump. Baby Bump is a refund of all or part of the annual dollar-based administration fee for the time you’re on parental leave or have left work, up to a maximum of 12 months ($93.60).

For more information on eligibility and how to apply please see this article.

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Where can I find out information about fees?

Each of our investment options have different fees. You can find out information about these fees on our website under each investment option. An overview of our investment options can be found here.

For a detailed breakdown of fees, how we apply them and more information on our services, please read the Product Disclosure Statement, Additional Information Booklet and the Financial Services Guide.

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What are my fees paying for?

Like all super funds, Future Super needs to charge fees so that we can run our business and ensure that your money is having the most impact that it can. Fees pay for things like establishing and administering your account, investing your money, running our tech systems, and our wonderful Member Advocacy team.

Our members pay direct fees (also known as dollar-based fees), and percentage-based fees. All of our investment options have a direct administration fee of $1.80 per week, and percentage-based administration and investment fees, indirect costs and buy-sell spreads, that vary depending on which investment option you are invested in. Information about these fees is published on our website under each investment option, and on the investment option overview page.

Individual members may also pay direct activity fees, such as insurance premiums, if they elect to take up an optional benefit provided by the Fund, such as life insurance.

Our members are the most important thing to us, and, as such, it is our intention to reduce our fees over time and as we grow.

For a detailed breakdown of fees, how we apply them and more information on our services, please read the Product Disclosure Statement, Additional Information Booklet and the Financial Services Guide.

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Insurance

Does Future Super offer insurance?

Future Super offers opt-in insurance. You can apply for cover for the following types of insurance:

  • Death
  • Death & TPD, and
  • Income Protection

Death and Death & TPD cover helps provide you or your dependents (as applicable) with a lump sum payment in the event that you die, suffer a terminal illness, or you become totally and permanently disabled (where you have Death and TPD cover).

Income Protection cover helps protect your income in the event you become partially disabled, totally disabled and a sickness or injury causes you to be unable to work and earn an income.

Please read more about our insurance offerings and its terms and conditions by accessing our Insurance Guide, Product Disclosure Statement, Additional Information Booklet and Financial Services Guide.

When you first join Future Super you have 60 days to apply for our Easy Opt-In Default insurance via your Online Member Portal. This option is only available for Death and Death & TPD cover. This will provide a default amount of cover based on your age and type of work (see pages 17-22 of the Insurance Guide for more information). Please note, you will be required to have a balance first, before your Easy Opt-in Insurance begins. If your 60 days have expired, or if you wish to apply for Income Protection, get in touch with us at info@futuresuper.com.au and our friendly team will help you organise a quote!

If you currently hold insurance with a different super fund, you may be eligible to transfer your cover. Email us at info@futuresuper.com.au to find out more.

Note: Insurance is not available for pension account holders.

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How do I apply for Insurance?

There are three ways you can apply for insurance with Future Super!

  • Easy Opt-In Standard Insurance
  • Voluntary Insurance Application
  • Insurance Transfer

When you first join you have 60 days to apply for our Easy Opt-In Standard Insurance via your Online Member Portal. This option is only available for Death and Death & TPD cover. This will provide a default amount of cover based on your age and type of work subject to eligibility.

If you are an existing member whose 60 days has expired or you wish to apply for Income Protection, you can apply through our Voluntary Insurance Application. This method is more lengthy but it does allow you to pick the amount of coverage for Death and Death & TPD that best suits you. With Income Protection, you can apply for a coverage amount of up to 75% of your pre-claim salary with a maximum  benefit period of 2 years (or until age 65 if earlier). You will also need to select an appropriate waiting period. To obtain a quote for Voluntary Cover, please contact info@futuresuper.com.au.

Finally, if you currently have insurance with an existing fund, you may be eligible to transfer this cover. To do this, you will need to fill in the transfer form and provide proof of cover that is no older than 30 days. Please note, your existing cover should be active at the time of transfer. Please contact info@futuresuper.com.au for this form or for more information.

You should read our Insurance Guide, Product Disclosure Statement and Additional Information Booklet before making any decisions relating to insurance with Future Super.

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How are the premiums paid?

Insurance premiums are deducted monthly (in arrears) from the balance of your super. The premiums will be deducted automatically once your cover commences.

Standard cover commences on the later of the date your opt-in request is accepted by the Insurer and the date when your first super contribution (rollover, employer SG contribution or personal contribution) has been received by the Future Super.

For more information, please see our Insurance Guide.

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How do I cancel or alter my insurance cover?

We require written confirmation for all cancellations. You can, at any time, cancel your cover by writing to us at info@futuresuper.com.au and we will send you a confirmation letter when your insurance cover is ceased.

We also require written confirmation if you would like to decrease your cover amount. You can, at any time, decrease your cover by writing to us at info@myfuturesuper.com.au and we will send you a confirmation letter when your new insurance cover is confirmed.

If you would like to increase your cover amount, you will be required to go through the underwriting process. You can send us an email at info@futuresuper.com.au to obtain a quote or an application form.

For more information, please see our Insurance Guide.

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Forms and documents

Do you send out member statements?

We do! We send out member statements annually, however if you need one in the meantime, send us an email at info@myfuturesuper.com.au and we’ll do our best to get an unaudited interim statement to you within 2-3 business days.

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Managing your account

I've changed my name. How do I update my personal details?

To change your name please send us a completed Change of Details form along with a certified copy of ID with your new name to:

Future Super
PO Box 1282
Albury NSW 2640

For more information on how to obtain a certified copy of your ID please see this article.

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How do I update my contact details?

You can update your residential address and mobile number via the Member Portal.

To update your email address, or other contact details, you can give our member advocacy team a call on 1300 658 422 or send us an email at info@futuresuper.com.au.

We will need to verify a few details for security purposes, such as your full name, member number and date of birth.

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Member portal instructions

How do I check up on my account?

You can view your account online anytime via the member portal. You can also call 1300 658 422 or email info@futuresuper.com.au with any questions.

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Where can I find my member statement?

By checking the forms and documents section of your member portal, you will be able to see all previous audited annual member statements. Member statements are audited and distributed after the end of each financial year (after June 30th) and members will be notified once they are available.

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I can't log in to the Member Portal. What do I do?

You can log in using your member number, email or phone number. If you cannot log in on one browser try using a different browser (e.g. Google Chrome, Firefox, etc.).

You can also reset your password on the login page. Through this page, you can also activate your account if it hasn't had a password set.

If you still cannot access your account, send us an email at info@futuresuper.com.au or give us a ring on 1300 658 422.

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Beneficiaries

Who can I nominate as a binding beneficiary?

You can nominate a dependant or your legal personal representative as a binding beneficiary. If you nominate your Legal Personal Representative it is important that you have a valid Will and keep it up-to-date, as the Trustee may pay your death benefit to your estate.

Under superannuation law, your “dependants” include the following:

  • Your spouse (including a qualifying de-facto spouse of the same or opposite sex);
  • Your child (including a child of a spouse);
  • A person in an ‘interdependent relationship’ with you; or
  • Any other person who the Trustee considers was dependent on you for maintenance or support, at the date of your death.

Someone can be in an interdependent relationship with you if: you have a close personal relationship, you live together, one or each of you provides the other with financial support, and one or each of you provides the other with domestic support and personal care. Dependency can also arise where two people have a close personal relationship but don’t live together or provide each other with financial support or personal care because of physical, intellectual or psychiatric disability.

For more, see page 9 of our Additional Information Booklet.

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How do I nominate a beneficiary?

Binding beneficiary

To nominate a binding beneficiary you must complete the Binding Nomination of Beneficiaries Form and send it to us at:

Future Super
PO Box 1282
Albury NSW 2640

Non-binding beneficiary

To nominate a non-binding beneficiary you need to complete the Non-Binding Nomination of Beneficiaries Form. You can return it by email to info@futuresuper.com.au, or send it in hard copy to:

Future Super
PO Box 1282
Albury NSW 2640

Once it is processed it will appear in the 'view beneficiaries' section of your Member Portal.

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What is a beneficiary?

A beneficiary is someone you want to receive the money in your super account if you die. You can make a binding or non-binding nomination.

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Difference between binding and non-binding nominations

A binding death benefit nomination is a written direction made by you to the Trustee that sets out the dependants and/or legal personal representative, as decided by you, who are to receive your benefit in the event of your death. So long as the binding death benefit nomination is valid, the Trustee is bound to follow it.

A non-binding death benefit nomination is a written request made by you that suggests to the Trustee the beneficiaries that may receive your benefit in the event of your death. The Trustee has the final say as to who should receive your death benefits. The Trustee will consider your nomination but is not bound to follow it. The Trustee has the discretion to pay to any one or more of your dependant(s) or legal personal representative(s) or a combination of both.

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Withdrawing from your super

How can I certify my ID?

To certify your ID, you will need to scan and print a copy of photo ID, like your passport or drivers licence. You will then need to get the copy certified by an authorised person.

Please see the following list of people who can certify your ID:

  • Police Officer
  • A Registered Justice of the Peace
  • A permanent Postal Services Officer with 2 or more years of continuous service who is employed in an office supplying postal services to the public
  • An authorised representative of an Australian financial services license having 2 or more years of continuous service with one or more licensees
  • A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership
  • A registrar or a deputy registrar of a court
  • A Notary Public Officer or a Commissioner of Declarations

You must have the copy of your identification document(s) certified as being a true copy of the original document(s). The person who is authorised to certify documents must sight the original and the copy to make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping 'certified true copy of the original' followed by their signature, printed name, occupation, contact number and date.

Please also note the certification has to be on the same page as the copy of the document, for example it cannot be on the back of the document.

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What is my preservation age?

You can find out your preservation age here.

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What is a condition of release?

To withdraw some or all of your superannuation, you will need to satisfy a condition of release.

To satisfy a condition of release, you will need to have either:

  • reached your preservation age and retired
  • left a job since reaching age 60 or;
  • reached age 65 (even if you haven't retired)

Generally you will need to have reached your preservation age before satisfying a condition of release. There are a limited exceptions, including:

  • permanent incapacity
  • temporary incapacity
  • severe financial hardship
  • compassionate grounds
  • terminal medical condition
  • First home super saver scheme (FHSSS)
  • Departing Australia Superannuation Payment (DASP)

If you believe that any of the above apply to you, please see our section on early release of super.

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Can I access my super early?

Superannuation is designed to help you save for retirement, however, there are some limited circumstances where you may be able to access your super early.

For more information, please see the ATO website.

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How do I access my super due to financial hardship?

If you are finding that you are unable to meet immediate family living expenses, and you have outstanding debts, you may be able to access some of your super due to severe financial hardship.

For more information about eligibility and how to apply, please see our information sheet here.

For information about accessing your super early, please click here.

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When can I access my super?

Super is intended to fund your retirement, so you can generally only access it once you have retired from working and have met a condition of release. To satisfy a condition of release you will need to meet one of the following:

  • Reach preservation age and retire permanently from the workforce
  • Leave your employer after turning 60
  • Be 65 or older

There are some additional conditions that allow for early release of super.

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Can I access my super under the First Home Super Saver scheme?

We do participate in the First Home Super Saver Scheme. This means that voluntary contributions made after 1 July 2017 may be released from 1 July 2018. Members can save up to $15,000 per year in this way and can withdraw a maximum of $30,000.

You can make personal contributions by arranging a salary sacrifice arrangement with your employer, or by making personal contributions via your member portal. Please note that the amount you are eligible to withdraw is assessed by the ATO and any questions about applying for FHSS should be directed to them.

Please see this link to the ATO's website for more information.

Please note, Super Guarantee (SG), Spouse Contributions and Government co-contributions cannot be released under this scheme.

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Pension

What is an Account-Based Pension?

An Account-Based Pension is a simple, single account for those who have met a condition of release and will no longer be making contributions to their super. You can receive flexible payments (subject to age-based minimums) on a timeline that suits you, and make lump sum withdrawals at any time.

Please read our Product Disclosure Statement and other important documents before deciding to open a pension fund.

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How much do I need to start a pension account?

A pension account needs an initial minimum investment of $20,000. This initial investment can be rolled over from your current super account, pension account or personal bank account. It’s important to remember that you can’t make further contributions once your pension account has been established.

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At what age can I start a pension?

To open a pension account you will need to satisfy a condition of release.

To satisfy a condition of release, you will need to have:

  • reached your preservation age and retired; OR
  • left a job since reaching age 60; OR
  • reached age 65 (even if you haven't retired); OR
  • permanent incapacity

For more information about opening a pension, please read our Product Disclosure Statement.

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Is there a minimum amount I need to withdraw each year from my pension?

Yes! Please see the below minimum annual pension payments. For more information about opening a pension, please read our Pension Product Disclosure Statement.

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How do I join Future Super’s pension fund?

To set up a pension account you can submit a paper pension application form.

For all the important information needed to make an informed decision about joining the Future Super Pension Plan please read our Pension Product Disclosure Statement.

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How does a pension work?

A Future Super pension account allows you to draw a regular income from your retirement savings while investing them in line with your values.

You can choose to get monthly, quarterly, half-yearly or annual payments and you can usually choose how much you receive (within the mandated minimums outlined in the Pension Product Disclosure Statement).

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General

How can I call you while I'm overseas?

If you are overseas and need to call us, you can reach us on  +61 2 6181 0500.

Our contact hours are:

Monday to Friday - 9:30 am to 4:30 pm (AEST)

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How does super work for temporary residents of Australia?

If you have worked in Australia as a temporary resident and you have permanently left the country, you may be eligible to claim the super benefit you have accumulated while working here, less any tax. The payment is called a Departing Australia Superannuation Payment (DASP). A DASP can be claimed if:

  • You visit Australia on an eligible temporary resident visa; and
  • Your visa ceases to be in effect (it has expired or been cancelled); and
  • You leave Australia.

For more information about DASP, visit the ATO website here.

How to claim my super benefit

If you are a temporary resident and you permanently leave Australia, you have six months to claim your super benefit. If you do not claim it within this time it will be transferred to the Australian Taxation Office (ATO) as unclaimed money. If that happens, you will need to contact the ATO to claim it. For more information, visit the ATO website at www.ato.gov.au/super.

IMPORTANT:
If you are a former temporary resident whose superannuation benefits is transferred to the ATO as unclaimed money, you will not be notified of this or receive an exit statement after the transfers occurs. We will rely on relief provided by the Australian Securities & Investments Commission (ASIC) Class Order [CO 09/437] which says, in effect, that superannuation trustees are not obliged to meet certain disclosure requirements in relation to non-residents that have ceased to hold an interest in the fund as a result of the payment of unclaimed superannuation to the Commissioner of Taxation. If you require any further information, contact us on 1300 658 422.

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What is your ABN and USI?

Our Unique Super Identifier (USI) is 45 960 194 277 010

Our ABN is 45 960 194 277

Please see our Employer Hub for other information your employer may need.

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Employers

What is a clearing house?

A superannuation clearing house is an electronic gateway that allows you to make all your super contributions for all your employees in one single payment. Using a clearing house is a SuperStream compliant way to pay super contributions.

The ATO’s SuperStream certified product register contains a list of commercial clearing houses available.

Alternatively, if you have 19 or fewer employees, or a turnover of less than $10 million a year, you can use the free Small Business Superannuation Clearing House (SBSCH).

Source: Australian Taxation Office, YouTube

Read more about how to access the Small Business Super Clearing House (SBSCH) Service on the ATO website here.

Please check out our Employers page to access our clearing house details.

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Can I see what employee contributions I made on your website?

No. Please email our Member Advocacy team at info@futuresuper.com.au if you require further information about the payments you have made.

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Can I pay multiple employees’ super contributions in one payment?

Yes, however this varies depending on how you make your payment.

If you make the payment via BPAY, we will require all the correct remittance information to be submitted electronically in order to be able to correctly allocate the funds to each person. If you are paying the contributions directly to us, please submit one Notice of Payment form for each employee.

If you are paying via a clearing house, you just need to send the contribution information for all your employees together with your electronic payment to the clearing house, and the clearing house does the rest.

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Can I pay employees’ super contributions by cheque?

We do not accept contributions via cheque as these are not SuperStream compliant. Please contact us if you are having difficulties making a payment on behalf of your employee.

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Can I sign my employees up to Future Super?

No. Future Super is a choice fund. Every member must choose to join the fund.

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Can I make employer contributions outside of a clearinghouse?

In the event that you can't make a payment to your employee through a clearinghouse, you can submit an employer contribution using direct deposit and our payment confirmation form. Follow these steps:

  1. Contact us at info@futuresuper.com.au and request our direct deposit bank details to make your employer contribution to.
  2. Fill in our Notice of Payment form with the details of the contribution.
  3. Make a payment of the same amount as on the form to the account provided. Please also ensure the same payment reference is used.
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How much super do I need to pay?

Generally, Australian employers are required by Government legislation to make superannuation contributions for employees who are paid $450 or more before tax in a calendar month.  It doesn’t matter whether the employee is full time, part time or casual, or if they are a temporary resident of Australia.

The minimum you must pay is called the Super Guarantee (SG) and this is currently 9.5% of the employee’s wages.

You can read more about how much super you need to pay on the ATO website here.

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How do I pay super contributions?

There are some rules around how employers must pay super:

  • Super Guarantee (SG) contributions must be paid at least four times a year, by the quarterly due dates.
  • Contributions must be paid and reported electronically in a standard format, ensuring you meet SuperStream requirements.
  • Super payments must go to a complying super fund and most employees can choose their own fund.
  • There may be penalties for late super guarantee contribution payments or if no super contribution payments are made when they are legally owed to employees.

You can read more about paying super and your obligations as an employer on the ATO’s website here.

Our preferred method of payment is via a clearing house as this is the most SuperStream compliant method and ensures we have all the information required to allocate member contributions correctly.

A clearing house can also make paying super much easier as it allows you to make contributions for multiple employees and across various super funds in one payment.

If you use a payroll software, you may wish to ask your system provider if it is SuperStream compliant. Some payroll systems cover both information and payments, but some cover information only and you may need to pay super contributions to each super fund separately. Even if you are already paying super contributions by EFT or BPAY, you may not be reporting your SuperStream data electronically in a standard format.

You can use the ATO’s SuperStream certified product register to check if your payroll software is compliant or find another SuperStream compliant solution.

The ATO also has a handy Step-by-Step Guide for ensuring you are paying super contributions compliantly.

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What is SuperStream?

SuperStream is an electronic gateway which streamlines the way employers make super contributions for their employees. All employers should be paying super contributions in a SuperStream compliant way.

The only exceptions for non-compliance are:

  • Self-employed people or sole traders paying their own super contributions.
  • If the employer is a director or employee of their own incorporated business and the business pays super to their Self-Managed Superannuation Fund (SMSF). However, super contributions to any super fund other than the director or employee’s own SMSF and for all other employees do need to be SuperStream compliant.

To be SuperStream compliant, contributions and identifying data must be sent electronically. The money and information are transferred between the employers, superannuation funds, service providers and the Australian Taxation Office (ATO).

The ATO has a handy Step-by-Step Guide for ensuring you are paying super contributions in a SuperStream compliant way.

Source: Australian Taxation Office, YouTube

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What information do I need to pay employer contributions via a clearing house?

To set up contribution payments for a Future Super member in a clearing house, you will just need the following:

Fund name: Future Super or Future Super Fund

ABN: 45 960 194 277

USI: 45 960 194 277 010

Member number (request this from the employee)

The below video tutorial demonstrates how to set up a payment instruction from the Small Business Superannuation Clearing House (SBSCH).

Source: Services Australia, YouTube

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Oops! I've overpaid employer contributions. How can I request a refund?

If you have made an error and require a refund for overpaid contributions, we will require a valid hardcopy statutory declaration containing:

  • The member’s name and member number
  • Details of the original payment, including contribution type
  • Brief explanation of the error
  • The amount to be refunded
  • The bank details for refund payment

Please post your completed statutory declaration to:

Future Super
PO Box 1282
Albury NSW 2640

Please note that we cannot refund these payments without receiving a valid statutory declaration.

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Common issues when paying by clearing house

Where do I find all the payment information?

You can find our fund information on our website here.

You can request the member number from your employee. You can also request they complete a Standard Choice Form.

Why would my contributions be returned?

If you have had a contribution amount returned to you, it’s possible that some of the fund or member information was incorrect. It may also be due to the member account being inactive.

You may wish to check the fund and member details you have are correct. If all the details are correct, you can reach out to our helpful team on 1300 658 422 or email us at info@futuresuper.com.au.

Small Business Superannuation Clearing House (SBSCH) Troubleshooting

If you experience an issue within the SBSCH, you can find a list of troubleshooting resolutions here.

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Advisor information

What are Future Super’s recent returns?

Returns for our investment options can be found on the returns page of our website.

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Where is my statement located?

You'll find your annual Future Super member statement within your member portal. To access this, simply head over to the Forms and Documents section. You'll find your member statement located at the bottom under the heading "statements".

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Join Future Super

^ By providing your email address, you consent and authorise us to send you communications or information, including information required by law, via email or similar technologies. Your details will never be passed onto a third party other than in accordance with our Privacy Policy. You can elect to receive communications by post at any time by contacting Future Super on 1300 658 422 or via email at info@myfuturesuper.com.au or in writing at GPO Box 1858, Sydney, NSW 2001.