employer update - caresuper · and brisbane. like asset, caresuper is an industry super fund run...
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Welcome
to this special merger edition of
Employer Update which provides
important details of our merger with
CareSuper, and what it means for
employers.
Please take a few minutes to read
through the Update to ensure you are
aware of the administrative changes
that result from the merger.
All Asset members will soon receive
by mail a Significant Event Notice,
which provides full details on what
the merger means for members. This
Notice is also now available on our
website.
We are committed to making the
transition to the new merged fund as
smooth as possible for employers.
If you have any questions regarding
the merger, please contact our Client
Service team on 1800 805 981, or
click on the ‘Merger Information’ link at
www.assetsuper.com.au, or email us
It’s official! Asset and CareSuper are merging
The Trustee Board of Asset is pleased to announce that Asset will merge with CareSuper, effective from 27 October 2012.
After an extensive review and thorough investigation, we strongly believe this merger to be in the best interests of all members. We are excited about the enhanced range of benefits and services that will be made available to Asset members and employers as a result of the merger.
Employers and members will automatically transfer into CareSuper on the merger date retaining their existing employer and member numbers.
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Employer Update| S p e c i a l M e r g e r e d i t i o n | i S S U e 4 0 | S e p t e M b e r 2 0 1 2
It’s official!
Merger at a glance
What does the merger mean?
About CareSuper
Administrative changes effective from 27 October 2012
Familiar people, processes and systems
Need more information?
Contact us
Merger at a glance✔ Asset and CareSuper are merging, effective from
27 October 2012
✔ All Asset members and employers will transfer automatically to CareSuper
✔ Blackout period from 27 October to 19 November – no contributions can be made online during this period
✔ Email, phone and mail contact details will change – update your address book now
✔ October SG payments need to be made by 26 October 2012
B i g g e r a n d s t r o n g e r t o g e t h e r
Why merge?We believe a merger with the right super fund is in the best interests of members and employers. As the super landscape changes, and costs increase, it makes good sense for small and medium-sized funds to merge now in order to continue to be able to deliver member benefits in a cost-effective way. That’s why we have carefully chosen a like-minded, high performing and larger super fund to merge with.
What does the merger mean? For employers
For most employers, it will be business as usual. There will be little change to the way you currently manage your superannuation obligations. You will continue to receive the same personal and local service you’ve come to expect from us and because Asset and CareSuper use the same administrator, Australian Administration Services (AAS), you’ll find little difference when it comes to administrative processing and support.
And, you can rest assured that we’ll be working hard to make the transition easy for you.
For members
We strongly believe the merger is in the best interests of our members.
One fund with more members and assets will be able to offer members more thanks to economies of scale – investment opportunities, improved benefits, a wide range of services and even better value for money.
2
Employer Update
About CareSuperCareSuper was established in 1986 and has a history of strong performance and commitment to member service.
CareSuper has offices in Sydney, Melbourne and Brisbane. Like Asset, CareSuper is an industry super fund run purely for the benefit of its members, and similarly caters for employers in all industries.
Our merger with CareSuper will see the fund grow to:
Around 267,000 members Australia-wide
Over 69,000 participating employers
Over $6.5 billion in funds under management
Like Asset, CareSuper has a real commitment to member education and offers a great range of super tools to help members boost and manage their super.
CareSuper will continue to run education seminars in the workplace for employers. CareSuper also provides regular Employer Updates plus tools and factsheets for employers.
To find out more about CareSuper go to www.caresuper.com.au
Employer Update
B i g g e r a n d s t r o n g e r t o g e t h e r 3
Administrative changes effective from 27 October 2012Contacts From 27 October, the new contact details will be
Freecall: CareSuperLine 1300 360 149
Website: www.caresuper.com.au
Email: [email protected]
Mail: CareSuper Locked Bag 5087 Parramatta NSW 2124
You will need to update your address book and contacts list.
The Asset contact details will continue to operate until 8 pm on 26 October and will automatically redirect to CareSuper from that date for a limited period only.
Your employer number
There is no change to your existing employer number. Your Asset employer number will become your CareSuper number.
Employee details There is no change to your employee/s member number/s. Their existing Asset member number will become their CareSuper member number. New employees wishing to join Asset from 27 October, or joining by default, will become members of CareSuper.
Blackout period To ensure that all member and employer records are transferred to CareSuper, there will be a blackout period of three weeks from 27 October to 19 November. This means that no processing can occur during this period.
Contributions received during this period will be credited to the member’s account as at the date of receipt so employees will NOT be disadvantaged.
Our Client Service team will continue to be available to answer your enquiries during this period. Just call us between 8 am and 8 pm AEST, Monday to Friday, on 1300 360 149.
Online access You will not be able to access your employer account online from 8 pm on 26 October to 19 November 2012 during the blackout period. This means you will not be able to make contributions online, view previous contribution returns or any current returns online during that period.
From 19 November you’ll be able to access your account online again at www.caresuper.com.au using CareSuper’s version of EmployerAccess called EmployerOnline. EmployerOnline has the same look and feel as EmployerAccess, so you’ll find it just as easy to use.
You’ll be able to access EmployerOnline with your old Asset employer number. However, the first time you login you’ll be asked to update your password.
If you have registered for EmployerOnline you will be able to print off statements for any period at your convenience. Please note that you will not have access to old contributions from 27 October 2012. You can download these in Excel format from EmployerAccess prior to the merger date.
Workplace seminars availableIf you or your employees would like further information about the merger, or any aspect of super, our Client Relationship Managers can conduct a tailored seminar in your workplace.
If you’re interested in arranging a workplace seminar, just call our Client Services team.
Paying contributions
Please note that the date for Superannuation Guarantee contributions for October will be
26 October 2012 (moved forward from 28 October) due to the blackout period.
Any contributions paid by you on or after 27 October 2012 need to be made directly to
CareSuper, even if they relate to periods prior to the merger.
Contribution payments will continue to be accepted during the blackout period, but you will be
unable to make contributions online. Any contributions received during the blackout period will be
banked and then processed after 19 November 2012, effective from the date of receipt.
Your CareSuper payment options during this period are:
› Process your super by uploading a contribution file via email. Prior to 27 October, you can
download an Excel version of your current contribution return and by updating the information
within the spreadsheet, you can re-use this same format. Further help will be available online at
www.caresuper.com.au
› Use a Contribution Return form and pay by cheque. Cheques should be made payable to
CareSuper at Locked Bag 5087, Parramatta, NSW, 2124.
You can continue to Bpay® contributions to CareSuper using your existing Asset employer number.
The CareSuper biller code is 929 893. You will be sent your new CareSuper Bpay personal
reference number with your welcome pack from CareSuper in late November 2012. If you need
any assistance with making a Bpay contribution, please call the CareSuperLine on 1300 360 149.
If you currently use ClickSuper or another payroll provider or clearing house to make payments to
multiple super funds, you can continue to do so in the normal manner.
Monthly contribution return
If you make paper-based (not electronic) contributions, you will receive a monthly contribution
return as usual. Your final contribution return from Asset will be mailed to you in late October.
You can use this return to make your payment in November, remembering to make any cheque
payable to CareSuper.
For those that receive paper contribution returns, a paper return will continue to be mailed to you.
Default fund If Asset is nominated in the award(s) or agreement(s) covering your employees as a fund to which
Superannuation Guarantee contributions can be made, this nomination will automatically transfer
to CareSuper as the successor fund.
If you have chosen Asset as your default fund, new employees eligible for Choice of Fund should
be provided with the CareSuper Standard Choice Form, which is available for download at
www.caresuper.com.au
Existing employees who have already completed a Standard Choice Form with Asset do not need
to complete a new form.
Forms and publications
You’ll need to destroy or recycle your Asset publications and replace them with CareSuper forms
and publications.
CareSuper forms and publications will be available from 27 October 2012 for use after the merger.
Please contact CareSuper to order new copies, or contact your Client Relationship Manager.
Further information
You will receive an employer welcome pack from CareSuper which will include a Product
Disclosure Statement, employer guide and more.
Look out for your pack in November.
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Employer Update
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Employer Update
Familiar people, processes and systems
Same personal service
Both Asset and CareSuper have Client Relationship Managers that look after employers and visit members at their workplaces. When the two funds merge the two teams will come together to form an even stronger team, providing members and employers with local, personal services.
While there may be some changes in the account management structure after the merger, you will still have a dedicated Client Relationship Manager who will be your single point of contact. If that person changes from your current contact, you’ll be given plenty of notice of the change and most importantly, you’ll continue to receive personal service from us.
Same administration provider
Australian Administration Services (AAS) is the fund administrator for both Asset and CareSuper and will continue to be the fund administrator after the merger. This will help ensure a smooth integration, allowing you to focus on running your business.
It also means you’ll find CareSuper’s administration processes and systems very familiar. For example, contributions processing, online payment and access to your account, as well as the support you receive from the Client Service team will all be very similar.
Trustee Board representation
From 27 October 2012, four Asset Trustee Directors (pictured) will join the CareSuper Trustee Board – two employer representatives and two employee representatives. This means that Asset members and employers will still be actively represented in the management of the merged fund.
Garry BrackAustralian Federation of
Employers and Industries
Chris ChristodoulouUnions NSW
David MichaelisNSW Business Chamber
Alisha WildeUnions NSW
Do you have employees who are in both funds? Good news for employers who have staff members who are currently members of both Asset and CareSuper. These records will be combined after we merge, so you’ll soon be able to make your contributions for these employees under one employer account.
We’ll let you know more about this after the merger.
Going from gold to platinum
CareSuper has consistently been awarded the highest ratings by independent experts.
SuperRatings, an independent research and rating agency that evaluates funds across the superannuation industry, currently rates Asset Gold. Even better, it rates CareSuper Platinum.
So you and your employees will be moving from a good fund to an even better one.
Source: Ratings and assessment information based on SuperRatings research current as at May 2012. For more about SuperRatings, go to www.superratings.com.au
Asset
A good value for money
superannuation fund strong
in nearly all assessment
areas.
CareSuper
A best value for money
superannuation fund. Well
balanced across all key
assessment criteria.
➲ Need more information? Employers
To find out more visit the Merger Information page on our website at www.assetsuper.com.au. There you’ll find a comprehensive list of merger questions and answers for employers and members.
If you can’t find the answer you’re looking for there, please call our Client Service team on 1800 805 981 or email us at [email protected]
Members
All Asset members will receive a Significant Event Notice which provides details of what is changing, how their super will be invested in CareSuper, their insurance cover in CareSuper, fees and charges, and any action required by them ahead of the merger.
This Notice can also be downloaded from the Merger Information page at www.assetsuper.com.au
Up to 26 October 2012
Freecall: 1800 805 981
Email: [email protected]
Web: www.assetsuper.com.au
Mail: Asset Super
Locked Bag 5088
Parramatta NSW 2124
From 27 October 2012
Freecall: 1300 360 149
Email: [email protected]
Web: www.caresuper.com.au
Mail: CareSuper
Locked Bag 5087
Parramatta NSW 2124
The contact phone numbers, email and postal addresses for Asset will redirect to CareSuper for a limited period only from 27 October 2012.
➲ Contact us
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Employer Update
This document is issued by A.S.S.E.T. Limited (ABN 13 003 257 190) as the trustee of the superannuation fund known as Asset Super (ABN 98 061 665 900) (Fund). The information contained in this document is about the merger of the Fund with the superannuation fund known as CARE Super (ABN 98 172 275 725) (CareSuper) and is general information only. The trustee of CareSuper is CARE Super Pty Ltd (ABN 91 006 670 060). This document has been prepared without taking into account your personal investment objectives, financial situation or needs. It should not be considered as a substitute for reading the CareSuper Product Disclosure Statement (PDS) that sets out in detail information about the services and features of CareSuper. A copy of the PDS can be obtained by calling 1300 360 149. This document is not intended to be, and should not be construed in any way as, investment, legal or financial advice.
Fund: Asset Super. ABN: 98 061 665 900. SFN: 131 944 944.Trustee: A.S.S.E.T. Limited. ABN: 13 003 257 190. AFSL No. 230070
AB/Emp/Update 388.3 08/12 ISS3