MilitarySuper
AFSL: 238395 - ABN: 50 925 523 120 - Board ABN: 72 406 779 248
About Your Statement Guide
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About your 2008-09 preserved member statement
- Your details
- Important information
- Your share in the fund
- Ancillary benefits
- Member benefit balance summary
- Productivity benefit balance summary
- Ancillary benefit balance summary
- Total balance summary
- Superannuation surcharge
- Transaction summary
- Fees and costs
Your details
Check your personal details carefully and call 1300 006 727 if they are incorrect. Quote your reference number when contacting MilitarySuper.
- Tax File Number provided
- If you have not supplied your Tax File Number, any concessional contributions received may be taxed at the highest marginal rate. This will appear on your Transaction Summary under “No TFN Contributions Tax”.
Important information
- Death benefits
- If you die after leaving the Defence Force and before receiving your preserved Employer Benefit, your eligible dependants (or your estate, if you have no eligible dependants) are entitled to any Member Benefit, plus any Ancillary Benefit, plus your preserved Employer Benefit. Depending on the circumstances, this benefit can be taken as a lump sum, a pension, or a combination of both. This benefit may be reduced by an adjustment to recover any accrued surcharge debt. The amount paid to each eligible dependant is based on the type of eligible dependant (eg spouse, child, orphan) and the number of eligible dependants. No fees or charges are deducted from your account in providing this benefit to you. Further details are available by contacting MilitarySuper.
- Disability benefits
- If the Trustee assesses you as totally and permanently incapacitated (ie that you are unlikely ever to be able to work again in employment you are reasonably qualified for) you are entitled to the total equity held for you in MilitarySuper, payable as a lump sum. No fees or charges are deducted from your account in providing this benefit to you. Further details are available by contacting MilitarySuper. Please note: Any payment received will be subject to Pay As You Go (PAYG) taxation.
Your share in the fund
- Withdrawals
- Withdrawals in the financial year from your Preserved Member Benefit are shown here.
- Total Member Benefit (if applicable)
- Investment choice applies to your Preserved Member Benefit. If you wish to change your investment option for your Preserved Member or Ancillary Benefit, please read the booklet called “Your Guide to Investment Choice” and complete a Member Investment Choice (MIC1) form.
- Employer Benefit (consisting of Productivity Benefit plus employer share)
- This is the funded component of your Employer Benefit which is preserved in MilitarySuper. It represents the 3% contribution made by the Department of Defence (after tax and net investment earnings) while you were a Contributing Member.
- Employer share
- The Employer Share is the larger part of your benefit and is fully paid for by the Australian Government. Any preserved Employer Share is adjusted annually with the Consumer Price Index (CPI) – the rate applied for the 2008–2009 year was 2.5%. Your Employer Share is not impacted by investment returns.
Ancillary benefits
- Ancillary benefits
- Ancillary Contributions can only be made while a member of the Australian Defence Force. Ancillary Benefits include a range of voluntary contributions or transfers that you made to MilitarySuper for yourself or on behalf of your spouse. There are six types of Ancillary Contributions offered by MilitarySuper. These are: Government Co‑contributions, Salary Sacrifice, Transfer In Amounts, Spouse Contributions, Additional Personal Contributions and Super Guarantee. For more information, please refer to the Product Disclosure Statement.
You will receive separate advice from MilitarySuper detailing the amount of Spouse Contributions that you have made. Please present this advice to the Australian Taxation Office to claim any possible rebate in conjunction with your taxation return.
- Super guarantee (received from the ATO/Department of Defence)
- From Department of Defence
Ordinary Time Earnings (OTE) encompass a wider range of payments than salary for superannuation purposes.
Superannuation Guarantee (SG) legislation: employers are required to contribute 9% of OTE to superannuation. The employer contributions (notionally 18%, 23% or 28% based on length of service) exceeds 9% based on salary for superannuation purposes, not OTE. The minimum 9% SG employer contribution may not be achieved for some members who are in receipt of certain allowances and bonuses (earnings in excess of $38 180 per quarter are not included). SG top up payments are made quarterly: eligibility one quarter does not guarantee eligibility for the next or any other quarter. For any enquiries relating to eligibility and how your entitlement is calculated, please see your pay unit representative. - From Australian Taxation Office
These amounts are superannuation payments from your previous employer(s) that the Australian Taxation Office has on forwarded to MilitarySuper. Further information is available at www.ato.gov.au.
Member benefit balance summary
- Investment option
- You can choose from five investment strategies for the investment of any Preserved Member Benefit.
- Balance
- The value of any Preserved Member, Productivity and Ancillary Benefits are determined by multiplying your total number of units by the unit price.
Productivity benefit balance summary
- Unit Price
- You can look up the latest unit prices
Ancillary benefit balance summary
- Ancillary benefit balance summary
- For current MilitarySuper Members, Ancillary Contributions (other than Spouse Contributions) are invested in the same strategy or combination of strategies as your compulsory Member Contributions.
If no choice is made, Ancillary Contributions are invested in the default Growth strategy.
Total balance summary
- Unrestricted non-preserved benefit
- Unrestricted non-preserved benefits are comprised of personal contributions made prior to
1 July 1999 plus any ancillary amounts transferred to MilitarySuper as Unrestricted non-preserved amounts.To access:
- That portion of any Unrestricted non-preserved amount comprising transfer values as cash, the scheme rules require that you must have reached your preservation age and discharged from the Defence Force.
- Your Unrestricted non-preserved benefits comprising your pre 1999 – Member Benefit component as cash, you must have discharged from the Defence Force; or
- Any Unrestricted non-preserved amounts may be rolled over to another regulated Superannuation Fund at any time. If your Unrestricted non-preserved Benefit forms part of an amount you transferred into MilitarySuper, the entire transfer amount must be rolled out. Subject to the rules of the rollover fund you may be able to access any Unrestricted non-preserved amount as cash.
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Restricted non-preserved benefit
- The Restricted non-preserved component of your benefit is comprised of your pre-1 July 1999 Member Benefit (if any). The Restricted non-preserved benefits must remain in MilitarySuper until you discharge. Once you have discharged, your pre-1 July 1999 Member Benefit becomes Unrestricted non-preserved.
- Preserved benefit
- The Preserved component of your benefit is comprised of your Employer Benefit, post‑30 June 1999 Member Benefit and Ancillary Benefits. These benefits must remain preserved in the superannuation environment (with the Employer Benefit remaining in MilitarySuper) until you reach your preservation age and retire from the workforce, or you are able to satisfy another condition of release.
- Total
- This is your Total Benefit and includes Ancillary Benefits (if any).
Superannuation surcharge
- Surcharge debt at 30/06/09
- This is your total Surcharge Debt, as reported at 30 June 2009. Any Surcharge Debt can be paid in part or full progressively during your period of membership. Any surcharge debt amount outstanding at the time benefits are claimed will be recovered at that time.
Any Surcharge Debt amount remaining at the end of a financial year will be charged interest at the 10-year Treasury bond rate of 5.52%. See the Superannuation Contributions Surcharge (PDF [an error occurred while processing this directive]) Fact Sheet for more information.
- Other management costs
- This approximate amount has been deducted from your investment and includes all the other management costs that were not paid directly out of your account. These costs are deducted before unit prices
are declared.
This amount represents fees and charges, other than administration, that are not directly charged to your account. These costs are deducted from the Scheme’s assets before unit prices are declared. The Other Management Costs disclosed on your Statement are an estimate only.
Transaction summary
Your Member Contributions, along with your Employer Funded Productivity Contributions, are used to purchase units in MilitarySuper. The value of each unit reflects the value of the underlying assets and changes daily. Your Transaction Summary shows the contributions made and any variation in your investment strategy. Ancillary transactions are also listed here.Fees and costs
There are no administration fees and charges payable by you. All fees and charges associated with the administration of the scheme are paid by the Department of Defence.- Total fees you paid
- This approximate amount includes all the fees and costs which affected your investment during the period. This is the total of Fees and Charges ($0) and Other Management Costs.