On 1 July 2019, the Government will introduce new laws designed to make sure that you do not pay unnecessary fees and insurance premiums related to your Superannuation.

We recommend that all members check their Superannuation policy in order to determine if you’re account includes purchased insurance (for example, disability or injury) units.

If you’re Superannuation account does include insurance and if you or your employer have not made a contribution for the last 16 months you will be impacted by the changes! The new laws will result in your Superannuation insurance being cancelled.

The easiest way to find out if the new laws affect you is to make sure that you read any letters, emails or SMS messages that you have received from your superannuation fund.

For those of you that have not received any communication from your super fund regarding this matter, the HWU recommends that you contact your super fund and make inquiries. Your Superannuation fund may have attempted to send letters to an old address or email account that you no longer use.

This is another message from the HWU keeping our members informed of important information and changes to laws that will impact you.

 

Kamal Bekhazi 

Senior Research & Project Officer