Enquiries/Feedback
Contact your account manager,
phone 1300 880 588 or
email us
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| Newsletter for employers - March 2009 | |
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Enquiries/Feedback
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Insurance transfer for existing members: special offer extended to end of June AIG have extended the deadline for this special offer . Existing members who wish to transfer insurance cover from another super fund or retail policy need to submit their form so it reaches us by 15 June. Financial planning in uncertain times In these uncertain times, many employers are facing the prospect of downsizing and the hard decision to retrench valued employees. Redundancies are never easy. Employees and employers alike could be looking for support and financial guidance. Employees facing redundancy will have to cope with receiving and managing what could be a large lump sum payment. They will also need to make significant financial decisions with long-lasting consequences in what can often be a confused and emotional state of mind. Many employers look for ways to help their employees through the redundancy process, often by outplacement counselling services to help them find employment. Those same employers may also want to do more by providing employees with expert financial guidance to enable them to objectively plan, recover and then move forward. Advice on:
could make a real difference for employees and employers who have some tough and important decisions to make. For more information on the help that’s available, call us on 1300 880 588 or talk with your financial adviser. If you do not have a financial adviser, contact your Account Manager at the Aon Master Trust. Market information and investor tools One of the great things about our partnership with Russell Investments is the access we have to their market information and investor tools. We’ve taken this a step further by co-branding a number of their publications and posting them on our website. Market Review examines the major issues that have impacted investment markets during the quarter. It also analyses the longer-term trends that have affected performance in the year to date. Market Barometer offers a look forward with the latest insights and valuations from Russell Investments. Tools for sound decision-making can be found in the Insights newsletters and there are also some topical posters you can download. This recent addition allows you to search keywords across all website content (html pages and all PDFs), html pages, or PDF forms. Flight to safety continues amid market volatility and worries over global recession
During the December quarter, the global economic meltdown continued with recessions declared in at least 19 countries and unprecedented levels of volatility in global equity markets. Declining global growth led to commodities and commodity stocks being sold off heavily, and had a flow-on effect on the Australian dollar which declined significantly during the quarter. The Australian equity market had its fifth consecutive negative quarter (-18.5%), with high levels of investor risk aversion resulting in defensive sectors such as gold and healthcare outperforming the broader market. International equity markets also reflected investors’ pessimism with the MSCI World Index down 11.5% in A$ terms. Globally, central banks continued monetary easing policies with the US, UK, Europe and Australia all reducing rates to combat the economic slowdown. While there are undoubtedly risks ahead, it is important to remember that a recovery from the current market conditions will eventuate. To ensure that investors are well placed to take advantage of opportunities as they arise, investors need to ensure that their portfolios are well diversified and consistent with their long term objectives. Source: Russell Market Review January 2009 Reduction in minimum pension payments The Government’s announced decision to halve the annual minimum payment amounts for account-based pensions for 2008–09 became law on 13 March 2009. We are writing to our Pension members about relevant options and what they need to do if they want to reduce their pension payments. More information:
Proof of identity – the recent Victorian bushfires and Queensland floods You may have seen media reports about the problems that some people affected by the recent bushfires and floods are having in producing proof of identity (POI) documents. The Australian Transaction Reports and Analysis Centre (AUSTRAC) has indicated that it will not commence enforcement action against a super fund trustee for breaching the customer identification requirements of the AML/CTF Act where:
This means that payments can be made to affected members who are unable to produce the POI that is normally required. Applications should carry a statement that the member is unable to provide their required POI due to the circumstances noted in a) or b) above. The Aon Master Trust will assess applications on a case-by-case basis. More information: Legislative news Same-sex couples get same rights for super Recent changes to Federal law have made it easier for super funds* to treat same-sex couples and their children in the same way as opposite-sex married and de facto couples and their children. More information: *Super funds are not required to adopt these changes but the Aon master Trust will be doing so. 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), Aon Superannuation Pty Limited (ABN 83 057 982 822, AFSL 237465). 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. © 2009 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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