1 July 2010

Updates to the Member PDS and Pension PDS effective from 1 July 2010

Members should note that updates have been made to the Member PDS (issued 1 July 2009) and Pension PDS (issued 1 July 2009) from 1 July 2010.

For full details on the updates to the Member PDS (issued 1 July 2009) please click here

For full details on the updates to the Pension PDS (issued 1 July 2009) please click here 

1 June 2010

MTAA Super Member Supplementary PDS and amendment to Insurance Handbook

A Member Supplementary PDS and Insurance amendment were issued on 1 June 2010 to make changes to the Member Handbook and Insurance Handbook which were both issued on 1 July 2009.

These changes reflect the new matching insurance cover rules which are effective from 1 June 2010.  From 1 June 2010, the application period of 30 days will no longer apply and members will be able to submit an application to match their other insurance cover at any time.  The underwriting requirements members need to meet have been simplified and all questions will be answered by every applicant.

For a copy of the Member Supplementary PDS click here.

A copy of the Insurance amendment is available by clicking here.

9 April 2010

Crediting Rate Adjustment

The Trustee has recently been made aware of valuation information that has impacted on the performance of the Target Return Portfolio (TRP) for the period from October 2009 to February 2010. In accordance with Trustee policies the crediting rates for this period have been recalculated to take into account this revised information.

In the interests of member equity and to reflect the current position of the Fund, the Trustee has resolved to retrospectively apply the adjusted rates for all current members. If you are invested in an investment option with exposure to the TRP (Balanced, Conservative, Growth or Target Return Options) this will mean that your account balance is lower that it would have appeared using the previously declared rates. Information regarding the original crediting rates, the adjusted rates and the difference in each of the crediting rates as at 9 April 2010 can be downloaded here.
                                                                                                      
You should be aware that Fund members are not bearing the cost of the adjustment.

Click here for more information on the Fund’s valuation policy and crediting rate process.

1 April 2010

Half Yearly Update

MTAA Super has recently learned from its administration service provider, SuperPartners, that some Half Yearly Updates contain incorrect calculations of account estimates for the period to 31 December 2009.  If you have an incorrect update, it will be replaced shortly with a corrected one. In the meantime all members can log onto SuperSite to view their account details and current account balance estimate.  If you don't have access to SuperSite please call 1300 362 415 to obtain a PIN or simply ask for your account balance estimate.

The Half Yearly Report is available online and will also be posted to members from April 2010.

1 April 2010

• the new strategic asset allocation, effective from 1 April 2010, for the Balanced Option
• the new strategic asset allocations, effective from 1 November 2009, for the Conservative Option, Growth Option, Target Return Option, International Shares Option and Diversified Fixed Interest Option
• changes to the objective of the International Shares Option
• updated crediting rates for each investment option
• updated investment management costs for each investment option
• an explanation as to how application moneys and rollover amounts are dealt with when a person applies to join the Fund.

For a copy of the Member Supplementary PDS click here.

A copy of the Pension Supplementary PDS is available by clicking here.

26 march 2010

Notice to members

On Saturday 20 March 2010 two articles were published in the Weekend edition of Fairfax Publications: Sydney Morning Herald, the Melbourne Age, the Brisbane Times and WA Today, which contained a number of adverse inferences including a statement calling into question the viability of MTAA Super.  This is totally false and the Trustee has sought a retraction from Fairfax and an apology. 

MTAA Super is not in danger of closure.  MTAA Super would like to take this opportunity to advise you of a decision taken by the Trustee of MTAA Superannuation to server its Service Agreement with MTAA Ltd for the provision of Secretariat services. 

For full details click here. 

To view letters from prominent industry bodies click here.

2009 Member Updates