There are some important changes to your super that you should be aware of. We’ve highlighted some of the changes below but you should read the relevant Member Notice below to understand what it means for your super:
From 1 July 2019 the current $75 exit fee and the $110 Family Law Valuation/Account splitting fees will be removed. Fees for members with an account balance less than $6,000 will be capped.
Since 1 July 2016 the comprehensive insurance cover package provided to Mercy Super members has not been subject to any increases to insurance premium rates or changes to the important terms and conditions.
Following a recent review, there are a number of changes which will be made from 1 July 2019 to ensure insurance benefits for our members can continue to be provided cost-effectively. These include:
Importantly, the premiums for Death and Total & Permanent Disablement cover will remain unchanged.
A number of changes have been introduced by the Federal Government’s Protecting Your Super legislative package aimed at ensuring members’ superannuation balances are not unnecessarily eroded.
We exist solely to look after you as part of our membership community.
If you’re not sure about the changes to your Mercy Super account just contact us.