Industry SuperFunds are renowned for their focus on members. This member-centric approach is reflected in everything we do, from the selection of our staff and trustees to our dedication to education and communication.
Employee representation
Industry SuperFunds have employee and employer representatives on their boards of trustees, with independent expert advisers often appointed to enhance their overall depth of knowledge.
Expert advice
The trustees are supported by expert staff, a number of whom have extensive experience in member services. They visit members at their workplaces to discuss super and aspects of an employee’s particular Industry SuperFund.
Business advisers provide Industry SuperFunds with specialist knowledge of investment, accounting and auditing, legal issues, and probity and so on. These specialists ensure your money is managed to maximise benefit to members. They also ensure the fund meets the requirements of all the regulatory bodies and legislation that cover the management of super. The main authorities are the Australian Tax Office (ATO), the Australian Prudential and Regulatory Authority (APRA) and the Australian Securities and Investment Commission (ASIC).
Call centres
Industry SuperFunds ensure their members can pick up the telephone and talk to a real person about their account and the fund. For the cost of a local call, members can talk to dedicated staff who understand the fund and are happy to answer questions. Most Industry SuperFund call centres are open 8am to 8pm, Monday to Friday.
Newsletters and education
- Member newsletters – regular newsletters explaining the fund and its services, the latest developments in investment markets and any important changes in superannuation legislation help Industry SuperFund members better understand their superannuation benefits and their fund.
- Half-yearly member statements – to help members stay in touch with their superannuation, many Industry SuperFunds send members an account statement every six months.
- Financial education – many Industry SuperFunds encourage their members to learn more about how to make their money work harder for them. From member magazines to online education courses and workplace seminars, funds provide members with ongoing education.
For example, HOSTPLUS offers its members ‘The Barefoot Series on Moneytude’. This free education pack and special website is designed to give fund members lots of information and ideas about financial management.
- Health education and information – some funds also offer their members tailored information about the various health problems people in their industry may face.
Cbus provides its members with brochures about the health issues common amongst people working in the building industry. The Help-A-Mate series covers health problems like depression, diabetes and foot care.
- Other funds such as MTAA and REISuper provide fund members with information about mental health and how to access professional services offering assistance in coping with problems members may be facing.
Internet services
- Online account access – most Industry SuperFunds allow members to check their account balance, download important forms and learn more about their fund via the fund’s website.
- Online transactions – from switching investment options to updating their details, most Industry SuperFunds enable members to conduct secure online transactions, 24 hours a day.
- Online calculators – online calculators can help fund members plan their retirement needs, improve their household budgeting skills and review the impact of extra contributions on their final retirement benefit.