Member communication
Both the Act and the Superannuation Industry (Supervision) Act 1993 (the SIS Act) impose significant responsibilities on the Board in relation to communications with Members.
The Board’s Military Superannuation Communication Committee (MSCC) has a key role to ensure the effective and timely provision of quality information and education on superannuation matters to ADF members. Membership of MSCC includes a representative from the DFRDB Authority to recognise the role played by the Board in communications with all ADF Members, including those who are Members of the now closed DFRDB Scheme.
MSCC’s role is to:
- ensure effective liaison between each of the Scheme’s stakeholders
- provide advice on communications matters to the Board
- monitor the quality and effectiveness of the Board’s communication products
- review existing communication products and methods
- monitor, review and make recommendations on the implementation of a superannuation communication strategy for the ADF.
Objectives
For the purposes of reviewing its communications strategy the Board undertook an evaluation of the Scheme and its demographics which confirmed:
- the Scheme is male dominated
- the majority of Contributing Members are in their early to mid 20s, while the predominance of Preserved Benefit Members are in their mid 30’s to 40’s
- the most common form of exit from the Scheme remains resignation after less than ten years service
- although Contributing Member numbers are expected to increase moderately over the next seven years, the number of Preserved Benefit Members are anticipated to approach
100 000 in the same period - although off a smaller base, the pensioner population is expected to reach 10 000 in the next seven years
- electronic means of communication are increasingly becoming relevant as Members of the ADF increasingly gain access to the internet both at work and at home.
Addressing the outcomes from the review, the Board has established its communication objectives to:
- provide Scheme Members with user-friendly, targeted and timely information that increases their knowledge and understanding of MilitarySuper (and DFRDB) and the benefits derived from scheme Membership as well as the value of services provided by and on behalf of the Board
- deliver a communication and education program that employs the use of written and audio visual material and, where legislation allows, the use of email and other electronic methods of communication to Members
- use written, telephonic and electronic communication to:
- have available for the Membership at all times key information about the Scheme
- provide specific information to each Member annually about their stake in the scheme and at six monthly intervals provide a second personal mail out providing Scheme specific information and/or updates on investment strategy and investment performance
- provide tailored information to Members on entry to the Scheme or when considering retirement or resignation.
- keep the Minister well informed on matters relevant to the investment and administration of MilitarySuper and respond in a timely manner to Ministerial requests
- respond to Member-initiated information needs, and assist in their superannuation decisions.
In meeting these objectives the Board, as a minimum is committed to complying with the information disclosure requirements prescribed by the SIS Act but which also comply with the Board’s requirements and obligations as an Australian Financial Services (AFS) license holder.
Performance indicators
The effectiveness of the implementation of the Board’s communication strategy will be evaluated using the following criteria:
- benchmarking of the Board’s communications activities against industry best practice
- the number of requests received for additional information from Members
- the number and subject matter of complaints from Members
- client satisfaction as measured through responses to an annual communication survey
- timely provision of annual Member statements and reports consistent with SIS Act and Financial Services Reform requirements and industry best practice
- the Minister’s satisfaction with the MSB Board’s administration of the Scheme
- costs for each project kept to within the agreed budget
Communication focus
- Continued development of the form and content of the half yearly mail out to Members (Mid-year Update)
- a communication/education program based on the use of audio visual technologies and drawing on the experience of previous video presentations
- increased access to web enabled interactive tools for Member communications
- delivery of a communication/education program to cover the Scheme’s ancillary benefits initiatives
- promotion of the availability of MilitarySuper seminars and increased accessibility to seminars for new entrants to the ADF
- focussed initial Member education at the point of entry into the ADF, consistent with the Board’s obligations as an AFS licence holder
- continue to leverage off the MilitarySuper website for increasing access by Members to interactive sources of information about their Scheme; Membership and benefit entitlements
- communication of the Board’s approach to proposed new Government initiatives.
Counselling and information services
Information about the Scheme is provided to Members over the telephone, in writing, by email, and through presentations at the Department of Defence’s transition seminars at various bases and units throughout Australia. Members may also speak to an information officer on a one-to-one basis in Canberra and at some transition seminars throughout Australia.
During the year, ComSuper presented 51 seminars to a total of 3387 MilitarySuper Members and provided personal counselling for 1021 MilitarySuper Members. The seminars were primarily conducted in conjunction with transition seminars. A further 15 seminars relating to medical discharge were presented to 123 military Members.
Information seminars
The MilitarySuper website continues to provide a convenient channel for Members with a significant increase in information available to those with Internet access.
Most Member contacts are by telephone, with an average of 1715 telephone calls recorded per week compared with 1734 in 2007–08. The Interactive Voice Response (IVR) telephone service recorded 89 205 calls from military (MilitarySuper and DFRDB) Members, compared with 95 572 in 2007–08.
ComSuper staff responded to 8954 emails and 3856 written enquires from military Members, compared with 9138 and 4437 respectively in 2007–08.
The following charts for call volume, email volume and written volume, comparing services used by the military Members, demonstrates a decline in the reliance of these services by the Membership.
Monthly call volume comparisons
Monthly email volume comparisons
Monthly written volume comparisons
Pensioner communications
The Customer Service Centre assists military pensioners to understand their superannuation entitlements and maintain their pension accounts in accordance with the service standards agreed between the Board and ComSuper.
Information officers can be contacted by telephone, letter, facsimile or email. Pensioners with hearing impairments can use a special teletypewriter (TTY) facility. Information officers are available for personal counselling at ComSuper’s office. Pensioners who use the Internet can get general information from the MilitarySuper website.
Top TopWebsite development
Online services are an important component of our business and MilitarySuper continues to enhance and expand its range of online services designed to make access to services easier for Members.
During 2008–09 improvements were made to the secure access areas of the website, namely Member Services Online (MSO) and Pensioner Services Online (PSO). The improvements included providing Members and Pensioners with the ability to view and update personal information and banking details, and improvements to the benefit calculators.
MilitarySuper can provide Members with access numbers to the secure online services areas over the phone once the Member’s identity is confirmed.
The Board remains committed to further enhancing its web facility and the development of online services, recognising the importance of this medium in communicating with all Members of the Scheme.
The following tables and chart provide details of the most commonly accessed pages within the MilitarySuper website, website usage during 2008–09 and illustrate the increasing use of the MilitarySuper website as a primary source of information.
Rank |
Web page |
|---|---|
1 |
Unit Price Growth |
2 |
Unit Price High Growth |
3 |
Unit Price Balanced |
4 |
Unit Price Cash |
5 |
Unit Price Conservative |
6 |
Member Services Online |
7 |
MilitarySuper Book |
8 |
Fact Sheet: About to leave the ADF? |
9 |
Member Investment Choice Booklet |
10 |
Investment |
Year |
Number |
|---|---|
2005-06 |
1,159,783 |
2006-07 |
1,282,753 |
2007-08 |
1 305 590 |
2008-09 |
1 555 242 |
Projects
Member Statements
Corporations law requires the Board to provide each Member of the Scheme with an Annual Member Statement by 31 December each year. The statement provides Members with equity figures and withdrawal benefits at the beginning and end of the financial year.
Statements relating to the 2007–08 year were distributed progressively from the end of September through to the end of October 2008 and the 2009 statements are scheduled to be delivered within the same timeframe.
Annual Reports
A key communication channel from the Board to MilitarySuper Members is through the Annual Report, which is distributed to all Contributing and Preserved Benefit Members. The report provides a summary of the year’s activities and performance of the Fund during the financial year.
In the past MilitarySuper has provided Members the Annual Report with the Annual Member Statement. However, in 2008 the Government through ASIC granted superannuation funds more flexibility around how they communicate with their members in this area. As a result in 2008–09 MilitarySuper was able to provide its Members with access to the Annual Report online as the primary delivery method. Printed copies were available for any Member requiring the document in this form.
Mid Year Update
The Autumn 2009 Mid-Year Update provided Members with information on the effects of the Global Financial Crisis and it’s impact on the investment returns of the MilitarySuper Fund. Also included were details regarding changes to superannuation and the appointment of the new CEO for MilitarySuper.
The Mid-Year Update was also available on the website in a new online magazine format. The format was well received by Members and, in the first month of the magazines’ release on the website, it was accessed 13 629 times.
Pension Update
The first issue of the Pension Update was published in January 2003 and has been released twice a year ever since. Pension Update is aimed at the retired Members of the MilitarySuper Scheme and provides retired Members with details on areas of interest and significant changes that may impact their entitlements. This publication is accompanied by a Consumer Price Index letter advising retired Members of the biannual CPI rate movement and how that translates into their fortnightly pension.
The two issues released in 2008–09 were Issue 12 (July 2008) and Issue 13 (January 2009).
Issue 12 announced a 2.3% increase in CPI for retired Members, upgrades to Pensioner Services Online (PSO), a new look payment summary for the 2007-08 financial year, the restoration of reversionary pensions and other regular articles.
Issue 13 announced another increase of 2.7% for retired Members, information about the medicare levy exemption, new ID requirements for benefit applications and other general information.
Results from a survey of retired Members showed that there was a significant increase in satisfaction ratings of understanding of Pension Update between July 2008 and January 2009 with ratings for understanding reaching 88%; relevance 89% and effectiveness of
presentation 90%.