The Oracle Superannuation Plan allows you to provide your spouse with superannuation benefits through the Plan.
Open a Spouse Account and choosing your spouse contributions
As an Employee member you can choose to start making spouse contributions at any time and these contributions will count towards your spouse's non-concessional contribution cap. These contributions are paid into a Spouse Account in your spouse's name.
To set up a Spouse Account or change spouse contributions, both of you must complete this form:
As an Employee member you can change your spouse contributions. The new contribution amount will be deducted in the next pay period after the form has been processed.
Splitting your contributions with your spouse
As an Employee member you can split some of your concessional accumulation-style superannuation contributions with your spouse once each financial year. To split your contributions with your spouse, download the form below:
Choosing an investment option
As a Spouse member you will have access to the same five investment choices as other members. You can change your investment option on the first day of each month.
As a Spouse member you can:
1. Change how your future spouse contributions are invested. This change is available from the first day of each month at no cost.
2. Change how your current account balances are invested. A switching fee applies each time you change how your account balances are invested.
3. Change how both your current account balance and future contributions are invested. A switching fee applies each time you change how your Spouse Account balance is invested.
To choose an investment option, your spouse needs to complete this form:
Rolling money into the Plan
As a Spouse member you can choose to roll over money into the Plan at any time after an account has been opened in your name, and an initial contribution has been made. To do this you need to complete a rollover form:
Choosing your insurance
As a Spouse member you can choose to take out life insurance in the Plan at any time. You can then vary the insurance level on 1 June each year. Fees apply for insurance cover as detailed in the Product Disclosure Statement.
To apply for insurance for the first time, you need to complete the My Spouse form and Application for Insurance form:
The insurance company will review the application and may ask for more information. The insurer reserves the right to refuse or grant insurance cover, based on this information.
Once you have been accepted for life insurance cover, you can change the level of insurance cover at 1 June each year.
To apply to increase the level of cover, you need to complete both a My Spouse form and an Application for Insurance form and return both to the Plan Administrator.
To reduce or stop the insurance cover, you should send a letter addressed to the "Trustee of Oracle Superannuation Plan" through the Plan Administrator.
Remember, you and your spouse must ensure there are sufficient funds in your Spouse Account to cover the monthly insurance fees. If there are insufficient funds in your Spouse Account to meet the monthly fee, your insurance cover will end.