Firstly, you don't need to do anything if you wish to remain a member of IPE Super. Unless you choose another super fund, you will remain a member of the Fund.
The benefits of this Fund
Members of the Fund are provided with many flexible features and benefits. Some of the key features you may want to keep in mind are:
* You can make your own voluntary contributions, from either your before or after-tax salary.
* You can choose from eight investment options for your super (or a combination of these options).
* Most employees are provided with a basic level of insurance cover for death and TPD automatically (conditions apply).
* Employees under age 65 can apply for extra insurance cover (conditions apply).
* When you leave the Company, your insurance cover (i.e. death and TPD) continues automatically in the Fund's Retained Benefits section.
* You can roll over super from other funds into the Fund.
* You can change your investment choice at any time.
* You can contribute on behalf of your spouse. Your spouse may also be able to apply for life insurance cover through the Fund.
* You have access to a Policy Committee who are all IPL employees. They liaise closely with the Trustee and represent your interests in the running of the Fund.
* The Trustee regularly monitors the performance of the Fund's investment managers.
* You have access to the Fund's website to see how your super is performing and make or change some of your super choices.
Tips for comparing funds
You can choose to have your super contributions made to another eligible super fund. Start by comparing the features and benefits offered by other super funds with those you receive from IPE Super. For example:
* Check the administration and other fees charged by each fund.
* Check if the funds offer investment choice. If so, review the investment options, recent investment earnings (after tax, fees and charges have been deducted), long-term performance and fee levels.
* Understand how any insurance works, including the type and level of cover and how much it costs, as well as any conditions or restrictions that may apply and whether you need to provide health evidence.
* Consider seeking advice about your choice from a licensed financial adviser.
Choosing a new fund
You can choose the complying superannuation fund or retirement savings account to which the Company will make future employer contributions. You can change your choice once every 12 months.
To advise IPL of your chosen fund you need to complete the Standard Choice Form:
Take care when completing the Standard Choice Form and note that there may be several documents that you may need to supply to your employer before your change of super funds can be effected.