sound like you?

Got a question or situation to do with super that you need a little help with? We’ve come up with a list of frequently asked questions and common scenarios, to help you understand more about your Health Super investment.

click on the link that sounds like you

• I know nothing about super
• I want to be a member
• I want to transfer my super into Health Super
• I'm self-employed
• I'm changing jobs
• I'm leaving my job - can I take my super as a lump sum?
• I'm working and have over 20 years to go before retirement
• I'm taking a break from work
• I'm planning for my retirement
• I've recently retired

 

 

I know nothing about super

Congratulations, you have already taken the first step to learning more about super!
There are many useful hints and tips about super that will help you grow your knowledge, skills and confidence. You can start by:

• carefully reading the information (statements, newsletters and brochures) your super fund sends you
• thinking about how you want to live in retirement, TODAY
• attending a Health Super retirement seminar to find out more
• getting your financial future in order by speaking to a Financial Planner and getting tailored advice that suits you
• using our superannuation calculator to check if you’re on-track to achieving your retirement goals
• looking at your investment choice options. Remember, even after you retire you’ll still need to invest your super so that it lasts
• speaking to your Health Super Account Manager in the workplace. You can make an appointment through your Human Resources department

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I want to become a Health Super member

Thanks for thinking about joining Health Super. To find out more about the benefits of being a member click here.

To join, simply follow the simple 3-step process:

1. Check with your Human Resources or Payroll Manager that your employer is a Registered Health Super Employer.
2. If your employer is a Registered Employer, just advise them that you want to join Health Super.
3. Complete the required form.

For more information about joining click here.

If your employer is not registered with Health Super advise them that it’s an easy process to register. All they need to do is call 1800 133 050.

General advice warning
This advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. You should also obtain and consider a current Product Disclosure Statement (PDS) relating to the financial product before making any decisions about whether to join the Health Super Fund. To obtain a PDS please contact Health Super on 1800 331 719 or download the Product Disclosure Statement. 

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I want to transfer my super into Health Super

Start saving today and transfer your other accounts into one Health Super account.

Click here to find out more information about rolling your money into your Health Super account.

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I'm self-employed

If you are already a Health Super member, and are now working for yourself, you may be able to claim a deduction for contributions you make to your Health Super account and may also qualify for the Government Co-Contribution.

For more information about claiming the self-employed deductions click here.

important: The 1 July 2007 changes to superannuation will affect the types of contributions you can make. Download Health Super’s Budget fact sheet, or visit www.ato.gov.au/bettersuper for more information about the proposed changes.

 

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I'm changing jobs… can I still keep my Health Super account?

Yes, you can still keep your Health Super account. Leaving your current job does not mean you have to leave Health Super. If your new employer is a Registered Health Super Employer, simply tell them you would like to stay with Health Super!

what happens when you leave a Registered Health Super Employer?

If you resign or leave a Registered Health Super Employer, you remain a member of the Health Super Fund. Fees, preservation and contribution rules applying to your Health Super account remain the same. Your Health Super account will remain hard at work in accordance with your current Member Investment Choice option (or the Lifecycle Default Strategy).

If you have since started a new job, and your new employer is not a Registered Health Super Employer – you can ask your new employer to make super contributions to your Health Super account.

Your new employer is also welcome to join Health Super as a Registered Employer, and enjoy all the benefits of being with Health Super.

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I'm leaving my current job - can I take my super as a lump sum?

under 55 years of age?

If you are under age 55 and not gainfully employed and your account balance is less than $200, you are eligible to receive your super entitlement as a lump sum payment, tax free

If your account balance is over $200, you cannot access your super until you satisfy a condition of release such as reaching your preservation age and permanently retiring.

over 55 years of age?

If you are over age 55, you can start to receive your super entitlement as:
 
(1) a Health Super Pension product, or 
(2) as a lump sum payment, or

a combination of both.

(1) Health Super Pension Product: You can purchase a Health Super Pension product with all or part of your super entitlement, as long as you have a minimum balance of $10,000.

Health Super Pensions provide a flexible retirement income stream and offer:

• tax-free investment earnings
• flexible payments
• the ability to alter the frequency of your payments
• tax concessions, such as rebates that may apply to Pensions
• the ability to make lump sum withdrawals at any time (subject to limitations with Transition to Retirement Pension products)
• investment choice options 

To find out more about Health Super’s Pension products, download a Pension Product Disclosure Statement, or call the Superline 1800 331 719 and arrange to speak with a Retirement Services consultant - free of charge.

(2) lump sum payments
You may choose to receive part or all of your super entitlement as a lump sum payment. If so, we will forward you a payment letter, with your account balance and payment options, together with the relevant forms to be completed.

Remember, if you choose to take your super as a lump sum payment, you maybe required to pay withdrawal tax.

If you have not already done so, you may be asked to supply Certified Identification.

important: The 1 July 2007 changes to superannuation impacted the treatment of Pension products, please refer to our Budget fact sheet, or go to www.ato.gov.au/bettersuper

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I'm working and have over 20 years to go before retirement

Putting away a little today could pay off tomorrow in a big way. Whether you’re just starting out in the health care profession, or you’ve established yourself in the industry, your retirement is probably the last thing on your mind.

So you may not realise it, but you may now be in the best position to make the most out of your super. Click here to see how starting earlier rather than later, can make a big difference.

Why not see how much money you could have in retirement, with our superannuation projections calculator.

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I'm taking a break from work

Maybe you’re taking time out for children, or just taking a career break. Whatever your reason, you’re obviously aware of the financial impact in terms of lost salary, but have you considered the impact on your superannuation balance?

To build for your retirement and help catch up for some of the missed contributions while you’re not working, you could consider:

• putting extra money into your super with after-tax contributions
• once you’re back at work, consider salary sacrificing (pre-tax) into super
• you could meet with a financial adviser to start planning your future

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I'm planning for my retirement

After years of working, we all deserve an enjoyable retirement. Think about travelling to exotic places, relaxing with friends and spoiling your grandchildren on the weekends.

Here are some useful hints and tools to get you started. You can:

• check out the Government’s super changes and the new opportunities they offer. Download a Budget fact sheet
• attend a Health Super retirement planning seminar to find out more
• consider consolidating your super accounts
• get your financial future in order by speaking to a Financial Planner
• use our superannuation calculator to check if you’re on track to achieving your retirement goals
• find out what a Health Super Pension could mean for you
• consider topping up your super
• reviewing your investment choice options. Remember, even after you retire, you’ll still need to invest your super so that it lasts

Check out the Health Super Pension Product Disclosure Statement to find out more about retirement saving options.

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I've recently retired

Even if you have retired, your money can still continue to grow if you leave it in the tax-advantaged environment of super. In fact, you may need to continue to invest your super for many years to come.

Here’s how:

• check out the Government’s super changes and the new opportunities they offer. Download a Budget fact sheet
• attend a Health Super retirement seminar to find out more
• get your financial future in order by speaking to a Financial Planner;
• use a superannuation calculator to check if you’re on track to achieving your retirement goals
• find out what a Health Super Pension could mean for you
• look at your investment choice options. Remember, even after you retire, you’ll still need to invest your super so that it lasts 

 

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