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FREQUENTLY ASKED QUESTIONS

FAQs for employers

Why would an employer choose the Aon Master Trust?
Why choose the Aon Master Trust for your employees?
How do I join the Aon Master Trust as an employer?
Who do I have to make contributions for?
How much do I have to contribute?
How do I pay my contributions?
When do I have to pay contributions?
Can my employees make salary sacrifice contributions?

FAQs for members

How do I become a member of the Aon Master Trust?
How do I make voluntary contributions?
How do I check on my contributions?
What superannuation contribution does my employer have to pay?
Can I bring my other super into the Aon Master Trust?
What choices do I have as a member of the Aon Master Trust?
Can I change my investment choices?
Can I change my insurance choices?
How much super do I need?
How do I change my personal details?
Am I required to provide ID for transactions in the Aon Master Trust?
How do I get my photo ID certified for super benefit payments/transfers or for pension income payments?
When is my superannuation benefit payable?
What happens with my super if I leave my employer?
Where can I go for financial advice?
Withdrawals and rolling out

 

 

FAQs for employers

Why would an employer choose the Aon Master Trust?

When you join the Aon Master Trust you will benefit from our:

  • MySuper authorisation which allows the Aon Master Trust to be your default super fund.
  • flexible benefit options and investment choice - providing your employees with a range of options designed to suit their individual needs
  • easy data management - we can link your payroll system to our administration system for the efficient transfer of contribution and member details and no changes to your pay systems are required
  • independence - we are not an investment manager or life insurance company, we can place our investments and insurance with specialists that satisfy our standards on performance, efficiency and service
  • Aon support - our group of consulting professionals are dedicated to servicing your needs and finding solutions to problems.

Why choose the Aon Master Trust for your employees?

When your employees join the Aon Master Trust they are presented with:

  • choice and flexibility - they can choose from over 30 managed investment options and a direct investment option, insurance cover for death, total and permanent disability insurance and income protection and flexible contribution arrangements
  • competitive fees and premiums - the Aon Master Trust has a clear and competitive fee structure. As the employer you negotiate how much, and what, gets charged to your employees
  • portability - when your employee leaves they have the option to have their benefit transferred to a retained division in your corporate plan, where they can continue to enjoy the benefits offered by the Aon Master Trust
  • financial planning - access to our intra-fund advice team who can provide members with advice on their superannuation investments, contributions, insurance and overall retirement adequacy. They can contact us for this service or speak with their financial adviser for more detailed advice.

How do I join the Aon Master Trust as an employer?

As an employer you can join in three easy steps:

Step 1 An authorised officer of the company needs to complete the Aon Master Trust application agreement.
Step 2 Then join your employees by completing new members advice and schedule (in PDF or Excel format).
Step 3 Send the completed Aon Master Trust application agreement and the Aon Master Trust new members advice and schedule to:

Aon Master Trust
Aon Consulting Pty Limited
PO Box 1949
Wollongong NSW 2500

The new members advice and schedule in Excel format can be emailed to contactaon@pillar.com.au

Who do I have to make contributions for?

To meet Superannuation Guarantee (SG) legislation requirements you must make contributions for all employees who are aged 18 or over who earn more than $450 per month gross (including overtime). You do not need to pay Superannuation Guarantee for employees who are under the age of 18 who work 30 hours or less per week.

ATO's SG decision-making tool

Some Federal or State awards, industrial agreements or employee enterprise agreements may require employers to pay super for employees in other circumstances. If you are unsure of your obligations or requirements, contact your industrial adviser or contact the Aon Master Trust.

How much do I have to contribute?

There are no maximum or minimum contributions required by the Aon Master Trust. In general, the level of contributions that an employer must make to avoid the Superannuation Guarantee Charge for employees is 9.5%.

How do I pay my contributions?

You can make contribution payments by BPAY®, cheque or EFT. The Contributions summary and schedule , which you need to complete and send to us when you make a payment, includes payee details.

Your Account Manager can give you information on your contribution payment options.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

When do I have to pay contributions?

Contributions deducted from an employee's pay must be paid to the nominated superannuation fund within 28 days of the end of the month in which they were deducted. This is a legal requirement and failure to do this may make you subject to a fine.

Employers are required to make Superannuation Guarantee (SG) payments at least quarterly.

Superannuation guarantee quarter
Cut-off date for SG contributions
1 July - 30 September
28 October
1 October - 31 December
28 January
1 January - 31 March
28 April
1 April - 30 June
28 July

If SG contributions are not paid by the cut-off dates employers must lodge a superannuation guarantee statement and pay the superannuation guarantee charge. The charge cannot be claimed as a tax deduction by the employer.

For more information about SG visit the Tax Office's website at ato.gov.au/super or call them on 13 10 20.

Can my employees make salary sacrifice contributions?

In the Aon Master Trust your employees can make a contribution from their pay before it is taxed.

You can claim deductions on these contributions for employees aged under 75 (and 75 or over if contributions are required by an award).

 

FAQs for members

How do I become a member of the Aon Master Trust?

Corporate Super - Essentials is for you if you are an employee of an employer who participates in the Aon Master Trust.

Personal Super - Essentials is for you if you are self-employed or just want to join as an individual.

Pension - Essentials offers an income stream for retirees as well as those wishing to transition to retirement.

How do I make voluntary contributions?

You can make voluntary contributions from your after-tax salary (non-concessional contributions) or by salary sacrifice from your before-tax salary (concessional contributions). If you wish to make regular contributions from your pay, your employer may be able to set up a regular payroll deduction.

The Aon Master Trust offers a number of convenient ways for you to make after-tax contributions to your account. These include BPAY®, EFT, cheque, and (if you are a Personal Super member) direct debit from a bank account. See the Contributions factsheet for more information.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

How do I check on my contributions?

You can check your contribution online through aonmastertrust.com.au or call us on 1300 880 588. We also send you an annual benefit statement confirming the contributions we have received on your behalf.

What superannuation contribution does my employer have to pay?

Employers are required to pay contributions into a complying super fund for most of their employees. The Superannuation Guarantee (Administration) Act sets out a minimum contribution level that employers have to pay. That level is 9.5% of your pay.

Can I bring my other super into the Aon Master Trust?

Yes. It makes sense to consolidate your super in one place. You could save on fees and you'll find it easier to keep track of your super. You'll have less super paperwork to deal with too.

What choices do I have as a member of the Aon Master Trust?

When you join the Aon Master Trust you are presented with a range of options designed to suit your individual needs, including:

  • over 30 managed investment options and a direct investment option to choose from - mix and match to suit your investor profile
  • a choice of insurance options for death and disability - suitable cover to maintain your or your dependants lifestyle
  • flexible personal contribution options so you can top-up your super to suit your lifestyle changes and priorities.

Can I change my investment choices?

Yes. You can change your managed option choices by completing a Switching managed investment options form and forwarding it to us. There is no charge for making a switch. You can also change your investment options online - you'll need to log in. Direct investment option changes must be made online.

Can I change my insurance choices?

Yes. Insurance forms are available on our member forms page.

How much super do I need?

The answer is different for everyone. Your super is part of your financial plan for the future. How much you need depends on your personal situation, how much income you want to have in retirement, and your other sources of income. You may want to talk to an independent financial planner about a financial plan to suit you.

How do I change my personal details?

You can change your address, contact details and beneficiaries online (you'll need to log in) or complete a Change member details form.

Am I required to provide ID for transactions in the Aon Master Trust?

Yes, rules within the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 require that Aon Master Trust members provide a form of identification when they :

  • request a transfer, rollover or a benefit payment
  • make an application to set up an Aon Master Trust Pension.

The preferred form of identification is a copy of a photo ID such as a driver's licence or passport details page. For more information on ID rules see the information below and our factsheet Identification (ID) rules and certification of documents.

How do I get a copy of my photo ID certified for super benefit payments/transfers or for pension income payments?

See our factsheet Identification (ID) rules and certification of documents.

When is my superannuation benefit payable?

The Government's preservation legislation helps you finance your retirement. Your superannuation benefit is payable in cash or pension form once you have retired and reached your preservation age (between ages 55 and 60 depending on when you were born).

Your super may be accessed earlier if you:

  • become totally and permanently disabled or die
  • are a temporary resident leaving Australia permanently for overseas (conditions apply)
  • obtain release on severe financial hardship or compassionate grounds

You may have an unrestricted non-preserved benefit if you had super before 1 July 1999. You can cash this out when you leave your employer.

What happens with my super if I leave my employer?

See Leaving your employer factsheet.

Where can I go for financial advice?

A financial adviser can help you with your super, tax, investment and insurance needs. If you don't have a financial adviser but would like to be put in touch with one, call us on 1300 880 588.

Withdrawals and rolling out

Before withdrawing or rolling your super out of the Aon Master Trust, it's in your best interest to consider your options and the impact that leaving may have on your insurance cover and retirement savings.

  • Leaving the Aon Master Trust means losing value-for-money insurance cover for death, total and permanent disablement and income protection. Other super funds may not offer the type or levels of cover you need and you may have to provide evidence of health.
  • Have you done a comparison to see how other super arrangements stack up against the Aon Master Trust?
  • Cashing out your super (if you're eligible) may sound great but, if you spend it all now, you'll probably find it very hard to catch up later on. If you're under age 60, you may have to pay tax on part or all of the amount you cash out.

Things to think about

If you're leaving your employer, starting a new job, about to retire or looking at self-managed super, A great place for your super - wherever you go is recommended reading. It outlines how the Aon Master Trust can continue working hard for you and your super now and into retirement.

You might also want to get some expert financial advice. If you don't have an adviser, we can put you in touch with one and there's no charge for your initial meeting. Call us on 1300 880 588 or email contactaon@pillar.com.au to get started.

Please contact us for details on how to withdraw your super benefit or roll it over to another super fund.

 

 

 

 

 

 

 

 

 

 

 

 

 
 
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