1. Changing employment?
The Russell SuperSolution Personal Division allows you to keep the same superannuation fund when you change jobs. The table below highlights the features of the Russell SuperSolution Personal Division.
- What should you know
- What will change
- Personal Division features at a glance
What you should know when you leave the Employer Division
Leaving your job will usually bring significant change to your life. One thing that won’t need to change is the super fund you’re with*. Russell SuperSolution is designed to go everywhere with you, right through your working life and beyond into your retirement years – so you will only ever need one superannuation account.
If you are a member of the Russell SuperSolution Employer Division, once you leave your current employer, your superannuation benefits or account(s) and any insurance arrangements will automatically transfer to the Personal Division of Russell SuperSolution.
Under your current employer’s superannuation arrangement, you may be benefiting from fee rebates. In addition, your employer may be paying part or all of your administration fees and standard insurance premiums.
What will change once you leave your employer and move to the Personal Division
Fees
You will be paying all on-going fees (which may previously have been paid by, or subsidised by, your employer). These fees include investment management fees, calculated as a percentage fee that varies depending on the investment choice selected. For example, a percentage fee of 0.65% applies to your account balance if your super is invested in the Russell Portfolios® Balanced Portfolio.
However, as a valued member, you will not be charged regular fund administration fees for the first 90 days your super is in the Personal Division. These fees will only begin to apply on and from the 91st day after your transfer.
Insurance
Your insurance level will automatically transfer across to the Personal Division and the insurance premium will be payable by you going forward. The premium could be higher than the premium you (or your employer) are currently paying. However, you have the option to stop your insurance cover at any time.
For more information on fees, insurance or features of the Personal Division, download a copy of the current Product Disclosure Statement (PDS) from our website or call our Helpline on 1800 555 667. Otherwise you will be sent a Personal Division PDS on transfer when you leave your current employer.
Russell SuperSolution Personal Division
Features at a glance
Entry Fees |
Nil | |
Termination Fee |
Nil | |
Withdrawal Fee |
$99.50 (indexed annually with AWOTE) | |
Investment Switching Fees |
Nil | |
| Investment Switching Frequency | Daily (but remember super is a long-term investment and should be invested according to your long-term strategy) | |
Investment Choices |
25 different investment options available | |
Annual Member Fee |
$81.90 (indexed annually with AWOTE) | |
Administration Fee |
First $100,000 of your account Next $150,000 Next $250,000 Assets over $500,000 |
0.70% p.a. 0.55% p.a. 0.40% p.a. 0.00% p.a. |
Annual Investment Management Fee |
Please refer to the Russell SuperSolution Personal Division Product Disclosure Statement | |
Telephone Helpline |
1800 555 667 (7 days a week for recorded and personal information) |
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Website |
www.russell.com.au View your benefits, unit prices, get the latest news, and use the interactive modelling tools to plan your retirement |
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Pension Options |
A number of different pension options are now available including Allocated Penions, Term Allocated Pensions and Transition to Retirement Pensions | |
Financial planning assistance |
Get general help over the phone, or ask for a referral to a selected network of financial advisers | |
*You will need to check with your future employer to make sure you have Super Choice.
Issued by Total Risk Management Pty Limited ABN 62 008 644 353, AFSL 238790, RSE L0000260, ("TRM"). This fact sheet provides general information only. This information has not been prepared having regard to your objectives, financial situation or needs. Before making an investment decision, you need to consider whether this information is appropriate to your objectives, financial situation and needs. The information has been compiled from sources considered to be reliable, but is not guaranteed. Any examples shown are purely hypothetical and have been included for demonstrational purposes only. Past performance is not indicative of future performance. An invitation to apply to join the Russell SuperSolution is made by TRM in a Product Disclosure Statement ("PDS"). Any potential investor should consider the latest PDS in deciding whether to acquire, or to continue to hold, an investment in Russell SuperSolution. The PDS is currently available by phoning 1800 555 667 or by visiting www.russell.com.au. TRM is a member of the Russell Investment Group of companies. The Russell Investment Group or its associates, officers or employees may have interests in the financial products referred to on this website by acting in various roles including broker or adviser, and may receive fees, brokerage or commissions for acting in these capacities. In addition, the Russell Investment Group or its associates, officers or employees may buy or sell the financial products as principal or agent.