KEEPING INSURANCE AFFORDABLE

From 1 October 2020, our death and Total and Permanent Disablement (TPD) cover premium rates and rebate are changing. This means the net cost you will pay for your cover will be either the same or a little lower.

1. Premium rates are going up

Following a regular review, our Insurer has increased the death and TPD premium rates for ANZ Staff Super members by 8%. 

2. Our rebate on death and TPD premiums is increasing from 40% to 45%

As an ANZ Staff Super member, the premium rates you pay are reduced by a rebate. The Trustee has reviewed our reserving levels and decided to increase the rebate on death and TPD premiums from 40% to 45%. This increase will offset the increase in premium rates and helps keep our insurance affordable for you, our members.

Insurance premiums from 1 October 2020

The new death and TPD insurance premium rates (before allowing for the rebate) that apply from 1 October 2020 are set out below.

Insurance premiums for Employee Section & Employee Section C members

 * Before allowing for the 45% rebate on these premiums.

Insurance premiums for Personal Section and Partner Section members

* Before allowing for the 45% rebate on these premiums.

We’re here just for you

ANZ Staff Super is run only to benefit members.  Our competitive premiums and the 45% rebate on death and TPD premiums is further evidence of the great value we provide our members. 

MORE INFORMATION

You can access a copy of the Product Disclosure Statements and In Detail booklets for your membership section at www.anzstaffsuper.com or by calling us on 1800 000 086. Updated versions incorporating these changes will be available from 1 October 2020. 

IMPORTANT NOTICE

In preparing this document, the Trustee has not taken into account the investment objectives, financial situation and particular needs (“financial circumstances”) of any person. Accordingly, before acting on the advice contained in this document, you should assess whether the advice is appropriate in light of your own financial circumstances and consider contacting your financial adviser. Interests in the ANZ Australian Staff Superannuation Scheme ABN 83 810 127 567 RSE 1000863 (“the Scheme” or “ANZ Staff Super”) are issued by ANZ Staff Superannuation (Australia) Pty Limited ABN 92 006 680 664 AFSL 238268 RSEL L0000543 (the “Trustee” of the Scheme). You should consider the relevant Product Disclosure Statement at www.anzstaffsuper.com before making a decision in relation to your superannuation.

Insurance cover is provided by OnePath Life Limited ABN 33 209 657 176 AFSL 238341 and subject to the terms and conditions of the insurance policy issued to ANZ Staff Superannuation (Australia) Pty Limited by OnePath Life Limited (the “policy”). Where information is summarised in a brochure, information guide, or document other than the policy itself, it does not represent a complete description of the insurance cover provided. The policy represents the concluded agreement between the Trustee and OnePath Life Limited and, in the event of any inconsistency with this notice, the terms of the policy prevail. You can contact ANZ Staff Super on 1800 000 086 if you would like a copy of the policy.

Issued by ANZ Staff Superannuation (Australia) Pty Limited ABN 92 006 664 AFSL 238268 as Trustee for the ANZ Australian Staff Superannuation Scheme ABN 83 810 127 567.  September 2020