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| Newsletter for advisers - September 2008 | |
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Enquiries/Feedback
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Product and service enhancements Profiles for all options in our new investment menu are now available online. Please note that options marked with an asterisk are open for investment from October 2008. We’ve used the move to Russell Investment Group as an opportunity to revamp the way we present our investment profiles. With less words and more graphics, we hope you find them more client-friendly and practical. If you have any feedback, please let us know. You may also find this investment changes factsheet useful. Looking for our insurance scales, rates, definitions or occupation ratings? Everything you need is now available online.
We’ve also made our insurance quote calculator more adviser-friendly by including a link to the occupation ratings guide. Window of opportunity for existing members to transfer insurance Existing members have until the end of the year if they want to transfer their insurance cover to the Aon Master Trust. This facility is normally available only to members who have joined the Aon Master Trust within the past 60 days. Following feedback we received from advisers, AIG have extended this facility to existing members provided the member meets the eligibility criteria noted on the Individual insurance transfer questionnaire, including but not limited to:
This special offer for existing members is only available to the end of this year – applications using the Individual insurance transfer questionnaire need to be received by AIG by 31 December 2008. Members leaving Corporate Super: auto transfer to Personal Super Members who leave a participating employer now have a convenient way to organise their super – transferring from Aon Master Trust Corporate Super to Personal Super. And we’ve made it easy for them by making the transfer automatic – no rollover to organise and no withdrawal or entry fee on transfer. If they are insured under the standard AIG policy, they’ll also have the same amount of death and total and permanent disablement insurance cover as they had in Corporate Super (no health evidence required). If we hear that a member is leaving employment, we’ll write to them with more information about the automatic transfer and its timing. Benefit statements are going out Members will receive their annual benefit statements in the next week or so. Despite all the news of investment market woes, some members may still be unprepared for this year’s results. The downturn which has dominated investment markets for the past year has affected returns right across the investment landscape and will be reflected in the account balances of super fund members, including members of the Aon Master Trust. Some members may be quite distressed by the ‘loss’ they see in their benefit statement. It’s important for most members to keep short-term negative impacts in perspective and to resist ‘the itch to switch’. In the August issue of Directions for members the lead story ‘Keeping cool when the heat is on’ reinforces key messages for super fund members such as the long-term nature of most members’ investment and the fact that it is generally agreed that markets do recover. Recent market events are outlined in Directions for members and detailed in the quarterly market update at aonmastertrust.com.au Automatic transfers from terminating options As you know, developing the new investment menu requires us to terminate a number of investment options – this will happen on 16 September 2008. We have written to members affected by these terminations, outlining the background to the terminations, the automatic transfer of their assets to other option(s) and the opportunity to make an alternative choice if they wish. A sample of the letter has been sent to each adviser with a list of their clients who received the letter. Please let us know if you did not receive this information.Special notice – processing freeze 16 September to 8 October The transitions to Pillar (our new administration services provider) and Russell Investment Group will require us to suspend the processing of member detail changes (such as address and beneficiary changes) and cashflow transactions between 16 September and 8 October 2008. This freeze will ensure the stability of member and account data during the transition phase and will apply to all changes and transactions, including online. Normal processing/online services will resume on 8 October. During the freeze period, we will be able to provide approximate benefit quotations as at 15 September. We regret any inconvenience that the suspension of these services may cause and we appreciate your understanding. The move to our new administration services provider, Pillar, means new login details for users of our online services. The Aon Adviser Team will be in touch with you shortly about your new login. Bank account and address changes The move to Pillar means the Aon Master Trust will also have a new bank account number for contribution payments as well as new email and postal addresses (with re-directions until the end of the year). New banking and address details will be available on the website from mid-September and we will also write to you directly to ensure you have the information you need. For feedback, questions or more information…
Disclaimer The information in this document is general in nature. Your personal objectives, needs or general situations were not taken into account when preparing this information. You should consider the appropriateness of any general advice before acting on it, having regard to your own objectives, financial situation and needs. If the information relates to a financial product, you should obtain and consider the relevant Product Disclosure Statement before making any decision to purchase that financial product. Depending on the terms of the particular plan, the Trustee may receive remuneration in respect of the superannuation interests that it issues. For providing personal advice that results in the issue of an interest in the Aon Master Trust, Aon Consulting Pty Limited may receive remuneration from the Trustee. Employees and directors of Aon Consulting Pty Limited are remunerated by way of salary, but may receive bonuses based on the quality and amount of services provided. This document has been prepared by Aon Consulting Pty Limited (ABN 48 002 288 646, AFSL 236667) a related body corporate of the trustee of the Aon Master Trust (ABN 68 964 712 340,RSE R1000566), Aon Superannuation Pty Limited (ABN 83 057 982 822, AFSL 237465, RSE L0000437). This is a relationship that might reasonably be expected to be capable of influencing Aon Consulting Pty Limited when the company provides financial advice to clients in respect of the Aon Master Trust. © 2008 This work is copyright. Apart from any use permitted under the Copyright Act 1968, no part may be reproduced by any process nor may any other exclusive right be exercised without the permission of Aon Consulting Pty Limited.
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