Cancelling insurance on inactive accounts

Significant Event Notice (SEN)

April 2019

Cancellation of your Insurance Cover on your superannuation account

From 1 July 2019, recently passed legislation will prevent a trustee of a superannuation fund from offering or maintaining insurance for its members if a superannuation account has been inactive for 16 months or more, unless the member has directed the trustee to maintain the insurance.

An inactive account is an account that has not received a contribution or a rollover amount in the previous 16 months.

Members have the option to keep their insurance cover or cancel it. If your account is deemed inactive and you haven’t notified us of your intention to maintain your insurance by 1 July 2019, your cover will cease without further notice.

Please contact us on 1300 130 780 if you have any questions.

Communications

Individual correspondence to all members with a Low Balance Inactive account via:

  • EDM
  • Post
  • Public website

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