You can stay with us even if you change jobs! If your new employer is a registered employer, you can tell them you would like to stay with us!

What happens if my new employer isn’t a registered employer?

If you resign or leave one of our registered employers, you can still remain a member of Health Super. Your account will remain hard at work in accordance with your investment choice or the Lifecycle strategy.

If you’ve started a new job, and your new employer is not registered with us – you can still request they make super contributions to your account (if the new employer is subject to Choice of Fund requirements, they generally have to comply with your request).

Your new employer is also welcome to apply to become a registered employer.

Changing jobs might also be a good time to review and possibly consolidate your super accounts. If you’ve changed jobs many times, you may have collected a number of super accounts, each with fees, costs and potentially hefty insurance premiums as well. consolidating your accounts into your Health Super account could save you money and hassle!

What about redundancy?

In today’s economic climate, it’s an unfortunate reality that redundancies happen every single day.

Would you know what to do in this situation?

It’s likely to be a stressful and difficult time for both you and your family. With job uncertainty and the financial and lifestyle decisions that you will need to make, the last thing you’re likely to be thinking about is how your super will be affected.

It may provide some comfort to know that leaving your job doesn’t mean that you have to leave us, but there are some other things that you shouldn’t put off. After all, you don’t want to pay unnecessary tax on your redundancy package.

Make sure you understand all the options available to you and how they can impact your super. We recommend talking to a qualified financial planner to assist you in making such important decisions.

Breakdown of a typical redundancy package

Along with a specific redundancy payment, your package could include payments for some or all of the following:

• unused rostered days off
• unused sick leave
• amounts in lieu of notice
• gratuity (golden handshake)
• unused annual leave
• unused long service leave.

Some of these amounts will be tax-free; others will be taxable at varying rates.

If you want to know more about redundancy and the relevant tax implications, visit the ATO website or call 13 10 20.

Health Super Financial Services Pty Ltd (trading as Health Super Financial Planning) ABN 37 096 452 318, AFSL No. 240019 is a wholly owned subsidiary of Health Super Pty Ltd (the Trustee of Health Super). Health Super Pty Ltd pays Health Super Financial Planning (HSFP) half of the annual 1% account keeping fee charged for Health Super’s Pension products. Health Super Pty Ltd also pays a variable monthly amount to HSFP to conduct member seminars. Health Super is not a representative of HSFP and receives no commission when making a referral to this service.