Members FAQ

There are limits that cap the amount you can contribute. These are defined for both concessional and non-concessional contributions.

Concessional contributions cap

Concessional contributions include:

• employer contributions (including salary sacrifice)
• contributions by a self-employed person claimed as a tax deduction.

For the 2010-11 financial year, the concessional contributions cap is $25,000 for those under the age of 50. If you are 50 or over, the concessional contributions cap for the 2010-11 financial year is $50,000.

Usually taxed at 15%, concessional contributions above the concessional cap attract an excess contributions tax of an additional 31.5%. Contributions above the concessional cap also count towards your non-concessional cap.

If you have more than one super fund, concessional contributions made to all your funds count towards a single cap. Age is based on the last day of the financial year (i.e. 30 June), so if you turn 50 before the end of the financial year, the higher cap applies.

Non-concessional contributions cap

Non-concessional contributions include personal contributions for which you do not claim as an income tax deduction (after tax contributions).

For the 2010-11 financial year, the non-concessional contributions cap is $150,000.

Usually subject to 0% tax, non-concessional contributions above the non-concessional cap are taxed at 46.5%.

You are able to 'bring forward' two years of non-concessional contributions and make a lump sum contribution of up to $450,000 in one financial year, if you are 65 or under at any time during that financial year. So if you contribute $450,000 in the 2010/2011 financial year you cannot make further after tax contributions until the 2013/2014 financial year.

Yes. Just because you have left your employer does not mean you have to transfer your money out of RecruitmentSuper. Most employees can now choose which fund their employer super contributions will be invested in. If you are eligible to choose your super fund, your employer will give you a Standard Choice Form within 28 days of starting work. Read our guide to changing jobs, or contact us for more information.

If you were an eligible employee when you joined RecruitmentSuper, you probably have AutoCover. This automatically provides death and total and permanent disablement (TPD) insurance cover in case illness or injury permanently prevents you from working, or if you die.

If you do not have AutoCover you can apply for insurance benefits by completing the Insurance Application form. If eligible, you can also apply for income protection insurance.

Want to know more?

You can check your insurance status by logging into Member Online Services, read more about eligibility and your insurance options in the insurance section, or contact us with any questions.

In most cases, you can now choose which fund your employer super guarantee contributions will be invested in.

Choice gives you control and makes it easier to keep your super together when changing jobs or industries. For more detail, see choice of super fund.

If you die, your death benefit (super account balance and any insurance benefit) is normally paid to your dependants or your estate.

You can nominate your beneficiaries - who are the people you want to receive your benefit if you die. There are restrictions on whom you can nominate and legislation governs the decisions RecruitmentSuper makes when we pay your benefits.

RecruitmentSuper accepts both binding and non-binding nominations.

Find out more about the types of nomination, who can be your beneficiaries and how to tell us who they are on our Beneficiaries page.

You don't have to make a choice of super fund, but it is a great way of keeping your super together when changing jobs.

If you are eligible to choose your super fund, your employer will give you a Standard Choice Form within 28 days of starting work. If you don't make a choice, or you choose a fund that cannot accept your employer's contributions, then your employer will make contributions to the default fund detailed on the Standard Choice Form.

The default fund is one that is selected by your employer for employees who do not make a choice.

For more detail, see our Choice of super fund page.

Tax on contributions

Contributions fall into two categories with respect to tax.

Concessional contributions include employer and salary sacrifice contributions. These are taxed at a rate of 15%.

Non-concessional contributions include personal contributions for which you do not claim as an income tax deduction. These amounts are not taxed when paid into super, because tax has already been paid on them.

Tax on withdrawals

Withdrawals are generally tax-free for those aged 60 and over.

If you are under 60, super is made up of taxable and tax-free components.

TIP: To find out about the taxable and tax-free proportions in your super, login to Member Online Services, choose the 'Create a Quote' from the 'Account Summary' menu, and then click on the 'Components' tab in the middle of the screen.

On withdrawal, tax-free components are not taxed and the taxable component is taxed at a rate of:

• 21.5% for those under 55
• 0% for the first $150,000, and then 16.5% for the balance for those aged between 55 and 59 years.

Tax on investment earnings

While your super is with RecruitmentSuper it is invested. Investment earnings are taxed at a maximum rate of 15% but the tax is often much lower than this due to tax credits and tax effective income that may be earned within the investment options. This tax is deducted and accounted for before unit prices and crediting rates are declared.

It can be off-putting dealing with the forms for super transfers, but RecruitmentSuper offers some great options to help bring all your super into your RecruitmentSuper account.

TIP: All transfer requests need to be signed and accompanied by certified proof of your identity.

Our online consolidation form will gather all the information required and populate the government form, ready for you to print, sign and return.

You can also download and print a Transfer in Form to complete manually.

Alternatively, if you want a hand, simply contact your local Member Services Consultant to set up a one-on-one consultation or to receive some guidance over the phone.

If you've changed your name or your address a few times, you may have a trail of super funds looking for you. There's a strong chance that you have lost or unclaimed super.

The Australian Taxation Office (ATO) keeps a Lost Members Register to help reunite you with your entitlements. Containing a list of 'lost' and 'inactive' accounts, the register can be searched for possible matches with your information.

Find out how on our lost super page, or contact the ATO.

Information about retirement options is in the Retirement section. Or simply contact your local Member Services Consultant to set up a one-on-one consultation or receive some basic orientation over the phone.

You can get a quote on the amount to be paid on a full-withdrawal from your account from Member Online Services. Simply login and choose the 'Create a Quote' from the 'Account Summary' menu.

The quote provided is an estimate at today's date. It will vary, up or down, in line with market fluctuations, future contributions, administration fees and insurance premiums where applicable.

You can also get a quote over the phone by contacting our Customer Service Centre on 1300 304 000.

You can make changes to some of your personal details by using our online electronic access facility - Member Online Services. Alternatively a Change of Member Details form can be completed and sent to us.

If you're unable to download the form, contact us to have the form mailed to you.

You can register online, or contact our Customer Service Centre on 1300 304 000.

To register online, go to Member Online Services, click on 'register' and then enter your name, date of birth, and postcode to match the details in our systems.

You will also need to accept the Terms and Conditions to access the service.

To register over the phone, you will need to prove your identity and then you will be given a password to use with your Member Number to login.

To switch investment options, simply login to Member Online Services or complete the Investment Choice Form and post it in to us. You can switch your Options at any time. There is no charge for switching options.

See the Investment choice page for more information about the choices available to you before you make a switch.

Withdrawal fee of $35 is deducted from your account when your withdrawal is processed or your account is closed.

Your super is money put aside during your working life for use in retirement. Access to super is restricted until you reach preservation age, or meet a limited range of other conditions, such as financial hardship, compassionate grounds requirements, or leaving Australia permanently.

More detailed information about accessing your super is available from this website.

Extra contribution payments can be made by BPAY, direct credit, cheque or money order. For more information, read our guide to additional contributions, or contact us on 1300 304 000.

To join RecruitmentSuper you don't need to do anything! Generally, your employer will provide us with your details when they pay your first super contribution to RecruitmentSuper. You will be sent a Welcome Pack and an account will be set up in your name.

If you haven't received your Welcome Pack, or if you have any questions about your new membership, contact our Customer Service Centre on 1300 304 000.