Russell Investment Group has once again been awarded the top rank in the prestigious Lonsec Multi-Manager Review – reinforcing Russell’s ongoing dominance in multi-manager investing locally and worldwide.
This is the second year in a row that independent research house Lonsec has assessed multi-managers in Australia and the second year in a row that we’ve been the only multi-manager provider to be awarded the “Highly Recommended” rating.
Coming to Russell SuperSolution soon
TPD cover in the Personal Division – Total and Permanent Disability (TPD) cover will be available to members of the Personal Division from 1 June 2006. If you’re already in the Personal Division, you will be able to apply (subject to the insurer’s assessment of your health) for a level of cover to suit your personal circumstances at a weekly cost of $1.00 per ‘unit’ of cover. The cost of cover will be deducted from your account balance monthly. TPD benefits are determined by the number of units you hold and your age next birthday. Here are some examples of levels of cover available at different ages with one unit of cover.
TPD benefit payable at different ages if you have one unit of cover
(1 unit = $1 per week)*
Age 30
Age 35
Age 40
Age 45
Age 50
Age 55
$113,000
$107,000
$83,000
$55,000
$35,000
$23,000
*Applies in the Russell SuperSolution Personal Division from 1 June 2006
If you are in an employer-sponsored fund within Russell SuperSolution and you leave that employer, or you choose another fund for future contributions, your account balance will generally transfer into the Personal Division (your PDS will advise if different arrangements apply). If you are transferred to the Personal Division from 1 June 2006, your existing TPD benefit will be rounded up to the next whole number of units of cover. If any special terms apply to your TPD benefit in the Employer Division, these will be carried over to the Personal Division. However, you may not be covered for a period if your insurance cover ceases before you’re transferred to the Personal Division (e.g. if there’s a delay in us being notified you’ve left). So if you’re leaving your employer, call the Helpline to ensure your cover doesn’t lapse. Of course, if you don’t want TPD cover in the Personal Division, you will have the option to cancel it.
Non-Lapsing Nominations – Regular beneficiary nominations do not bind a trustee to pay death benefits to the person(s) you nominate – the trustee retains discretion to pay death benefits to whom it considers the most appropriate beneficiaries at the time of death. If you want to direct rather than just guide the trustee in paying your Russell SuperSolution death benefit, you will, from 1 June 2006, be able to make non-lapsing nominations. Such nominations allow you to control, within certain parameters, who receives your death benefit. As long as your non-lapsing nomination remains valid under superannuation law, the nomination will not lapse, unless it is replaced with another valid nomination. Non-lapsing nominations can sometimes remain valid despite changes to your personal life – so if you marry, divorce, remarry, have children or experience some other significant life event, you should revisit your non-lapsing nomination(s) and make changes if appropriate.
Transition to retirement pensions – Members who have reached or surpassed their preservation age, are close to retirement and still working may want to start accessing their super as they transition to retirement. We’ll be introducing a new pension option this May in the Russell SuperSolution Pension Division to enable members to do just that.
Achieve is issued by Russell Investment Management Limited (RIM), ABN 53 068 338 974, AFSL 247185. In preparing this information we haven’t taken into account your own personal circumstances, including what you want and need for your financial future. It is important for you to consider these matters and also to obtain and read the relevant PDS before you decide whether to acquire or to continue to hold a product. Go to www.yoursupersolution.com.au to download a PDS. Interests in Russell SuperSolution are issued by Total Risk Management Pty Ltd.
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