NGS Super Blog

Scholarship Award winners: past, present and future!

Wed, 16 May 2012 10:55:33 +1000

NGS Super members from across the country have the chance to further develop their careers, improve educational outcomes for students and advance the quality of the education and mutual finance sectors thanks to a $30,000 NGS Super Scholarship Awards program. Winners can use the scholarships to complete a study tour, professional development course or project of their choice.

Our 2011 winners

Our 2011 winners chose a diverse range of projects including tours aimed at improving outcomes for students at risk of leaving school early, improving access to music education and developing plans for an ageing workforce.

Sue Knight is Deputy Principal at a South Australian education centre for young women who are parenting or expecting a child and who wish to continue their education. Ms Knight and her team of five teachers chose to undertake a study tour of Ballarat Secondary College which runs the “Link Up Program” for young mothers as well as “The Pavilion”, designed for young people at risk of leaving school at La Trobe College in Preston, Melbourne. She said knowledge gained from these established programs would help her team to “support our most vulnerable young people to pursue their aspirations”.

Joshua Mackenzie, a first year teacher at Tiwi College in the Northern Territory, will take two professional development courses – “The Rock and Water” and “Play is the Way” – designed to increase student engagement and retention at his remote school.

Nola Norris, ICT Integration Co-ordinator and Assistant IT Manager at Macarthur Anglican School in NSW, has been awarded an ancillary scholarship to further her doctoral research on how people with Asperger syndrome think and learn. “No research to date has investigated firsthand accounts of gifted people with AS about their thinking and learning,” Ms Norris said. “The NGS Super scholarship will allow me to gather data from a wider selection of participants than would otherwise be possible.”

Nola's poster presentation at the Westin Boston Waterfront Hotel.

Patrick Devery, Curriculum Coordinator at St Mary's Cathedral College in NSW and General Manager of the NSW School Band Festival, chose to visit the Midwest Clinic for Music Educators in Chicago, USA, and complete a one-week internship with Northeastern Music, Pennsylvania. Mr Devery will use the experience to help establish the Sydney Music Education Conference and to “further the cause of instrumental programs in schools throughout NSW”.

Matthew Esterman, who teaches history and English at Brigidine College, NSW, will travel to the UK to meet with the founders of the “TeachMeet” professional development movement. Mr Easterman hopes to further his skills in networking, event management and communication to help maintain an ongoing professional development network for teachers in Sydney.

James Daws, Human Resources Director at Pembroke School in South Australia, will travel to Helsinki to study the Finnish National Program on “Ageing Workers” and the “Finn-Age-Respect for Ageing Programme”. “I am hopeful the study tour will lead to the development of sustainable age-friendly policies in Human Resources,” Mr Daws said. “I think it is wonderful that NGS Super has developed a scholarship program that highlights a cross-section of important educational needs in the independent school sector.”

You can find detailed information – including our 2010 winners’ stories – available on Awards and competitions page on the NGS Super website here.

The progress of our 2011 Scholarship Award winners will be available shortly on the NGS Super website.

You can apply online here for the 2012 Scholarship Awards. Entries close on Saturday, 30 June 2012 – so don’t miss out! We wish you the best of luck!

Self-Managed Super Funds - The New Garden Shed

Tue, 01 May 2012 09:30:32 +1000

Self-Managed Super Funds (SMSFs) have grown in popularity because many people prefer to choose their own investments and thus have greater control of their retirement savings. The idea may certainly be appealing to many and may be the best option for some, but the true cost of establishing and maintaining an SMSF can be misrepresented by agents who receive a significant payment for their services.

The core question is: are tax agents and/ or financial planners who recommend setting up a Self-Managed Super Fund acting in the best interests of their client? Or, are they simply looking after themselves?

If you are considering establishing an SMSF, the following legal requirements must be met: an SMSF trust deed, documentation regarding the appointment of trustees and declarations, ATO lodgement to become a regulated SMSF, a Tax File Number, an Australian Business Number, a sample investment strategy, resolutions and minutes of meeting to establish an SMSF as well as new bank and broker accounts. Once these hurdles are overcome, you must decide whether you would prefer a corporate trustee or an individual trustee as each category has different rules. Your investment strategy must reflect risk management and diversification to ensure you maxamise member returns so that you can pay the benefits as members retire as well as paying the actual cost of running the Self-Managed Super Fund. A trustee of an SMSF must also ensure compliance with the "in-house assets" rule and the requirement that investments must be made and maintained at arms-length or reflective of true market value and the "sole purpose" test.

As a trustee of an SMSF, you will have to lodge an annual return to the ATO which reports income tax, super regulatory information, member contributions as well as a payment of the supervisory levy.

Of course all of the above can be done by your tax agent or financial advisor – for a price.

And that is precisely why the SMSF sector is growing at a rapid rate. The fees and commissions charged by advisers and tax agents provide a strong incentive for them to promote these products.

So the real questions become: Do I need a new shed or do I want to stay in the big shed? Or put another way, will the benefits of an SMSF outweigh the fees and charges paid to tax agents and/or financial advisers? Am I better off using the investment options already available in my current fund? And finally, am I competent at selecting investments and balancing asset allocations for the short, medium and long-term or do I want the professionals to do it for me?

It is a given that some individuals like to "tinker" in the shed, but when retirement savings are at stake it becomes a much more important matter.

So if you are considering an SMSF, it is important to crunch the numbers. Be sure you ask the right questions to find out how much the promoter of this product will be paid and be clear about the annual running fees. Think about the investment options in your current fund and the ability you have to mix them to suit your risk tolerance – the range is there from Shares to Cash. And finally, check the fees your industry fund charges to determine if it would be prudent to set up a Self-Managed Super Fund.

Bernard O’Connor NGS Super Company Secretary/ Manager Member Services

Please read our fact sheet on self-managed super funds here.

We are committed to member education

Thu, 26 Apr 2012 11:04:32 +1000

We believe that members who have a good understanding of financial matters make better decisions about their retirement savings. As a Fund, we are committed to member education and provide a wide variety of educational tools, programs and resources to members:

Online learning – “NGS MoneyCoach” is a learning platform which includes a series of interactive, multimedia modules for self-paced learning about every aspect of personal finances
Our calculators – if maths isn't your favourite subject, never mind. You're about to score top marks. Our range of calculators can answer all sorts of super questions: from the difference extra contributions can make over time, to see how much super you are set to have when you retire. You can check them out here
NGS College – where learning about super is fun! Take the tour of our college and just see for yourself - an interactive learning centre that helps educate members on how to make the right choices when it comes to managing their superannuation
NGS SuperFind - Think you might have some lost super? You can use our new online tool “SuperFind” to track it down and roll it into your NGS Super account
Regular communication – members receive twice-yearly statements, as well as our member magazine MoneyWise. If you are over 50, then you will receive our magazine RetireWise as well. We also regularly communicate with members by email to let them know about the latest news from the Fund.
NGS Super Scholarship Awards - up to six $5,000 scholarships will be provided to NGS Super members working in teaching, management or ancillary staff positions per year
Free workplace presentations –If you and your colleagues want to learn more about super, hear from our dedicated Client Relationship Managers who visit schools and workplaces. You can contact your state Client Relationship Manager to organise a free workplace presentation. These presentations are conducted at no cost
NGS Financial Planning – financial planners are available to discuss your personal objectives so that your financial and lifestyle goals are achieved. You can request a financial planning appointment online here.

You can connect with us on all of our social media platforms. Stay up to date with the latest Fund information and industry updates. You can connect with us on Facebook, Twitter and Youtube.

From SuperFriend to Social Media

Thu, 22 Mar 2012 15:45:34 +1100

At NGS Super, we want to help our members to have the best future possible – and this is not limited to just their financial future.

Our long-term partnership with SuperFriend enables us to provide information and resources to members that will assist with their health and wellbeing.

Over the years, NGS Super has worked closely with SuperFriend to provide members and employers with a series of articles that deliver effective strategies to help maintain emotional wellbeing.

Late last year we launched our social media campaign where we aimed to provide a new platform to engage with our members. We currently have active Facebook, Twitter and YouTube accounts as well as a regular blog. Our desire was to add value for our members by sharing industry updates, tips, articles, video updates, in addition to being able to create a community where our members can engage on a social level. You can read our top ten reasons why NGS Super chose to embrace social media.

We are delighted to support SuperFriend and share their helpful articles, tips and videos about mental health, and primarily use our social media platforms to communicate this information to members. Receiving some of the highest click-through rates of any posts, this information has been extremely popular and well received by members. In this digital age, it seems people are more comfortable reading information online, rather than talking about it in person. That’s why we feel it’s extremely important to provide easily accessible information about mental health and personal wellbeing to our members via social media.

NGS Super is also taking part in a Mental Health and Wellbeing workplace pilot project involving schools in Victoria. There has been considerable support from each school and it is likely this project will be rolled out more broadly in the coming months.

The program includes workshops, reflection sessions, case studies and online peer support programs. It has been designed to address a range of different life-changing events by providing effective and best-practice information and resources to assist people coping with significant change.

Through this project we hope to achieve a better understanding of how people cope with change, to recognise the link between mental health and life-changing events and to be able to provide advice, knowledge and skills to help people manage these stressful life challenges. By providing additional information to teachers we hope that they will be able to share their knowledge and experiences with their students.

Free Super Seminars - Get a fresh viewpoint on your super

Tue, 06 Mar 2012 10:22:57 +1100

Update your thinking and discover new ideas

Retirement may be a long way off for you, or it may be just a few years away. But one thing is for sure, it’s something we all have to consider. Come and hear some super ideas about saving more effectively for the future. The plans you put in place today can have a great impact on your lifestyle choices in the years ahead.

Our seminars are free. There's no pressure and no obligation.

NGS Super holds a variety of seminars each year. An overview of each is below:

Transition and planning for retirement seminar
Learn how to use a Transition to Retirement pension to supplement your income and maintain your lifestyle while working part-time. A transition to retirement pension can also be used as a strategy to build wealth and minimise tax as you approach retirement.

Furthermore, we discuss how much yearly income you will need in retirement and provide strategies to make your retirement as comfortable as possible.

Wealth creation seminar
Want to start to build your wealth? In this seminar, we provide strategies so that your money can finally start working for you. We discuss a range of investment ideas such as gearing, debt recycling, risk management and estate planning. We also let you know how to source sound and ethical financial advice.

Centrelink seminar
Want to learn more about Centrelink benefits? The Centrelink Financial Information Service holds a range of financial education seminars aimed at:

people nearing retirement who want to know how to prepare
retirees who want to understand their pension and their options.

Centrelink seminars focus on understanding transition and retirement income streams, the age pension, asset and income tests, concession cards, qualifying age and other entitlements for people who are not of age pension age.

Upcoming seminars:

Transition and Planning for Retirement Seminar
Wednesday, 14 March 2012
Chiefly Wollongong (NSW)

Centrelink Seminar
Thursday, 15 March 2012
Adelaide Pavillion (SA)

Transition and Planning for Retirement Seminar
Wednesday, 28 March 2012
Armidale Ex Services Memorial Club (NSW)

Transition and Planning for Retirement Seminar
Wednesday, 18 April 2012
The York – Phillip Suite, Sydney (NSW)

For more information and to reserve your place click here.

Register online here

Active vs. passive investing - what does it mean?

Mon, 30 Jan 2012 13:57:54 +1100

NGS Super takes the responsibility of managing your money very seriously and we believe that an active style of investment management enhances member returns.

Active investment management means that our professional investment managers are making judgements about market movements and acting on those judgements by buying or selling parts of the investment portfolio across a range of asset classes. This provides investment managers with the opportunity to use their judgement to out-perform the market which is often referred to as “the index”.

In contrast, passive investment management relies only on market movements for returns and aims to achieve a return that replicates the average market return for a particular index, such as the ASX300. This means that a passive manager is not making the same sorts of decisions about timing or selection of investments as an active manager. A passive manager simply mirrors the weightings of the companies in a selected index.

The Fund has an actively managed investment portfolio as we believe this will better position us to deliver our investment objective (CPI +3% over rolling five year periods for the Diversified Option) on a reasonably consistent basis.

Free workplace presentations!

Tue, 17 Jan 2012 17:11:24 +1100

As part of NGS Super’s educative approach to superannuation, we offer presentations or individual appointments at your workplace designed to teach employees about their finances and give them an opportunity to ask questions about their superannuation.

We understand that super may seem complex, but speaking to an NGS Super representative one-on-one or as a group, can make super easy and engaging. Although retirement may seem like a distant thought, doing a few small things now can make a world of difference to your lifestyle when you retire.

You have the opportunity to customise the presentation to suit the needs of all employees. Topics that we can include are:

superannuation contribution rules – limits on how much you can contribute to super
market volatility and investment options
personal insurance cover
government co-contributions
contribution splitting
taxation of superannuation
retirement income streams and transition to retirement strategies
spouse accounts
NGS Super fund update

For individual appointments, we can offer professional general financial advice which is relevant to the member in different stages of their lives.

NGS Super is passionate about member education therefore we provide these services at no cost. If you are interested in having an NGS Super representative visit your workplace, please contact the Client Relationship Manager in your state.

Approaching retirement…financial advice is highly recommended

Mon, 19 Dec 2011 04:18:07 +1100

It is a sobering reality that most people do not know how much money they will need to ensure a comfortable retirement. Making good decisions about how to best manage your money will assist you to build wealth and will determine whether you achieve your short and longer-term savings goals. Whilst it obviously matters how much money you have – it’s how you put your money to work that can make all the difference.

The key is to start saving for your retirement much earlier and to contribute to your super throughout your working life. The effects of compounding returns will also ensure that your super balance will continue to grow and your money will continue to work hard for you. But how much should you contribute to meet your future objectives? This is where financial planning can help.

What value can be gained from getting advice?

Financial planning is about building a framework so that you can meet your needs now and in the future. Good advice is all about strategy and will ensure you are making the most of your financial situation. This will also give you a sense of control and, more importantly, peace of mind.

On the flip side, not getting good advice may lead to missed opportunities. You may be paying too much tax or not claiming benefits for which you are eligible. Another risk is not having adequate insurance cover for you and your family.

At NGS Financial Planning, getting sound financial advice is easy. As an industry super fund, our costs are low, our fees are fixed and we pay no commissions to financial planners. Your initial consultation with NGS Financial Planning is free, even if you are not a member of the Fund.

For more information please click here.

NGS Super's community participation

Mon, 12 Dec 2011 00:24:57 +1100

NGS Super is the super fund dedicated to education and community-focussed organisations. We take pride in community participation and we sponsor two causes that are very special to us: the Mother’s Day Classic and the Marine Discovery Centre in South Australia.

The Mothers Day Classic

The Mother's Day Classic is a national walk/run that raises money for breast cancer research. Established by the Women in Super – a national network of women working in the superannuation and finance industries, the Classic has become Australia's largest community event with over 100,000 participants in 2010 and more than $10.8 million raised for the National Breast Cancer Foundation, a not for profit organisation that promotes and supports research into breast cancer prevention and treatment.

The initiative was inspired by the knowledge that research is gradually improving the survival rate of the one in nine women who will be diagnosed with breast cancer by the age of 85.

We support the Classic by sponsoring the event as a National Silver Sponsor. In addition, NGS Super also sponsors the award for the largest school team in South Australia.

You can get involved by registering to walk or run in ten major cities and various regional centres across Australia or volunteer and help out on the day at an event near you. To find out more click here.

The Marine Discovery Centre

We are also a sponsor of the Marine Discovery Centre in South Australia - an award-winning centre which fosters an appreciation and understanding of marine life through aquatic education programs for primary school children and visitors.

The Marine Discovery Centre is Adelaide's most popular school excursion and community visit site, educating over 6,500 people each year. The centre plays an invaluable role in promoting conservation and oceanic sustainability.

We are proud to partner with the Marine Discovery Centre and to provide ongoing support to their environmental initiatives.

Why don’t you watch the video tour of the Marine Discovery Centre!

NGS Super offers an array of products and services - here are just a few!

Thu, 01 Dec 2011 03:50:06 +1100

We do more than just grow our member’s superannuation until retirement. We offer a range of value-for-money products and services. Here are just a few that you may not be aware of.

Financial Planning

Insurance

One of the great benefits of being a member of NGS Super is our affordable insurance cover. In 2009 and 2010 we won Money magazine’s Best of the Best Award for “Best Value Insurance in Super.”

As a member, personal insurance is automatically included as standard with your NGS Super account for eligible members. But as your life changes with new financial commitments, like a mortgage and school fees, so should your level of cover. You can apply to increase your cover at any time, or choose to opt out of insurance cover.

Pensions

A time of exciting possibilities and rich new experiences. It's all a question of getting organised with your finances.

The NGS Super Pension is structured to help you convert your superannuation savings into an income stream with possible tax and Centrelink advantages.

The NGS Super Pension is available either as an account-based pension (for retirees and people aged 65 and over who are still working) or as a transition to retirement pension (for people between their preservation age and age 65 who are still working). If you start a transition to retirement pension, it automatically becomes an account-based pension when you turn 65, retire or terminate employment after age 60.

For more information about any of these services please call our Customer Service Team on 1300 133 177 between 8am and 8pm (EST) Monday to Friday.

Financial literacy for your students – the program you are after is here!

Sun, 27 Nov 2011 23:26:38 +1100

NGS Super continually thinks about ways in which we can help the education industry and our members. Not only do we support the sector through initiatives such as the Scholarship Awards, but we are also committed to providing members with the financial information and tools they need – even in the classroom!

We understand that financial literacy is extremely important for schools and their students. With this in mind, NGS Super has partnered with EnRich Kids to provide a valuable and comprehensive teaching resource.

This resource includes two distinct financial literacy “Big Win” programs – one designed for children in middle to upper primary school and the other for students in secondary education. With an emphasis on fun, financial learning for students, this dual resource includes a series of games, activities, work sheets and assessment tools including a facilitators guide providing step-by-step teaching instructions from the planning to the presentation stage.

Furthermore, the programs have been mapped to the curriculum in each state and territory – so they can be used in the classroom immediately! Endorsed by the federal government, the “Big Win” programs appear on the Australian Government’s Understanding Money website (www.understandingmoney.gov.au).

We have 50 complementary copies to give away to our members. So, if you would like a copy of this financial literacy teaching resource, please email shorwood@ngssuper.com.au

Learn more about NGS Super

Thu, 17 Nov 2011 23:23:36 +1100

It is NGS Super’s mission to engage with our members and employers. We endeavour to make a positive difference to the financial well-being of members through their working life and in retirement. To this end, we wanted to create a short video that would capture the essence of the Fund, who we are and what we strive to achieve.

To watch the video click here

We sat down and spoke to some of our staff including our CEO, Anthony Rodwell-Ball about what NGS Super provides for our members and our driving corporate philosophy.

We also wanted to hear from our members and employers including one of our Scholarship Award winners and a participant from our Women’s Forum to ascertain their thoughts and experiences with the Fund.

“NGS Super has always been focused on its members and on providing the best possible retirement by means of sound investment returns, good quality financial education and by being committed to member product and service.” Anthony Rodwell-Ball, CEO of NGS Super.

We aim to be more than just a super fund. We do more than just grow our members’ superannuation until retirement. We take pride in the additional services we provide at NGS Super including low cost, award winning insurance, financial planning services and learning tools and resources.

We hope by watching this video, not only will you learn more about us, but see our dedication to members and our pursuit of continuous improvement and innovation.

Scholarship Award Success

Wed, 02 Nov 2011 03:34:09 +1100

Each year NGS Super supports the education sector by providing up to six professional development scholarships worth $5000 each! These scholarships allow successful applicants to complete a study tour, professional development course or project in Australia or overseas. The scholarship aims to further our members' education and skills, providing significant growth to the individual and contribution to their employer and the education sector at large.

In 2011, NGS Super received a record number of 111 applications from all around Australia. The winning applications were selected by NGS Super’s panel of Directors. The standard this year was extremely high, and winners selected stood out by fulfilling the requirements of the selection process to an exceptionally high standard. To read more about the winners for 2011, click here.

NGS Super has also been delighted to hear about the progress of those who won the Scholarships in 2010. They have made amazing contributions to their schools and sector. Read about their projects and see photos here.

We look forward to running the Scholarship Awards again in 2012. Entries can be submitted from 1 January to 30 June 2012 and we encourage you to apply. For more information about the Awards, click here.

We are in the “top ten” once again!

Thu, 27 Oct 2011 04:32:39 +1100

NGS Super has created strong internal values that have seen the Fund go from strength to strength - we are dedicated to our members, committed to looking after their money and we are never complacent but strive for continuous improvement.

By adhering to these principles, we have ensured the Fund has maintained its exciting position as being listed in SuperRatings’ “top ten” funds in Australia for 2012. This is not the first time that NGS Super has made it into the “top ten” funds in the country. SuperRatings is an independent ratings agency that looks at over 450 different criteria to determine the country’s top ten super funds - so being within this elite group is a sign that our strategy, attention to member feedback and commitment to provide value for members is at the forefront of our corporate ethos.

For over six years, the Fund has also been awarded with annual medals from the two largest and most respected independent rating agencies. Chant West has awarded us with their highest “5 Apples” quality rating (for both super and pension), and SuperRatings has awarded us with their highest platinum rating which places us in the top 15% of all funds based on value for money. Over the years we have also received numerous awards for our insurance, member communications and pension product.

For more information about our product and service offerings, please read the NGS Super Benefits fact sheet.

How is your retirement shaping up?

Mon, 17 Oct 2011 01:30:39 +1100

Do you have enough for your retirement?

There are many people who are over 65 years old and are still in the workforce. Some enjoy their jobs and are happy to keep working but others simply don’t have enough money to comfortably retire. The video below – The Today Show segment with Ross Greenwood – outlines the problems that Australian’s are facing with their super. But – don’t worry – we can help!

http://video.au.msn.com/watch/video/australia-faces-retirement-crisis/x4mx1gx

If you are approaching retirement, you may be interested to know how much money your retirement will cost, and if you are short, what you can do to meet your objectives.

So how much do you need in retirement? The ASFA Retirement Standard provides an approximation of how much you need to live on when you retire depending on whether you would like a comfortable or modest lifestyle and whether you are single or a couple. To check out these balances, click here.

Secondly, it is useful to look at NGS Super’s Future Super calculator. This shows how your super is growing and your approximate balance at retirement if you continue to earn your current income. If you are short, you can give your super a boost by contributing to your super on an ongoing basis which really adds up over time. NGS Super’s Extra Contributions calculator demonstrates how adding extra to your super can really impact your final balance at retirement.

Need some extra guidance? Financial planning can help!

We understand that planning for your retirement might seem daunting but seeing a financial planner can make a big difference. NGS Financial Planning can assist you to determine your goals and make a plan that suits your individual needs.

As an industry super fund, we do not pay commissions to anyone and our financial planners operate on a fee-for-service basis. To find out more about this service or to make an appointment, please call 1300 133 177.

Our top ten reasons for launching a social media strategy

Mon, 10 Oct 2011 04:20:40 +1100

Top 10 reasons why NGS Super is embracing social media to engage with our members

We believe social media can make us an even better super fund by allowing us to listen, react and build relationships faster and more efficiently than ever before.

It’s a new form of communication that Australians have embraced with a passion and we believe we should be using Social Media channels every day to engage and chat to our members about everything from our products and services to improvements we could make with how we go about our business.

We want our members to know and be a part of the NGS Super story. What has social media shown us? That people like to - be involved with companies they know and trust. We want to introduce you to the voices behind the logo so you get a feel for the personality and values that define NGS Super,encouraging you to feel a part of the Fund.

We know that people don’t want to talk with companies, they want to talk with people. We want to have a relationship with our members. We want our members to know who we are and how we can help them.

We want to create an NGS Super community. By making our customer service staff and team of experts available, we can reach out to members and employers and share information, form new connections, allow community participants to meet one another, and create a deeper and more meaningful dialogue by increasing the number of voices.

We want you to be able to get answers faster. Need help figuring out the best tool or product to help you manage your superannuation? Have a question about insurance, financial planning or other services? By using social media channels such as Facebook, Twitter and YouTube, we can use our network of experts who can answer your questions and point you to resources faster than you can find them yourself. Social media lets you do more, faster.

We want to highlight our products and services. Social media offers an additional avenue to show off and talk about our products and services in a friendly and informal way. We can provide helpful information, tools and resources to assist you in managing your superannuation as well as offering handy tips and videos.

We want to be the best we can be for our members. Our members will be able to give us valuable feedback on our products, services and tell us what works, what doesn’t and what they want more of, so we can provide more of what interests them and enhance the value they receive from the Fund..

We want to add value for our members by sharing information, offering additional resources and services, sponsoring activities within our industries and exceeding all expectations.

We want to connect with people and organisations that can add value to NGS Super. When you make yourself part of the conversation, you make your brand part of the story and people notice. We want to forge worthwhile relationships with other professional organisations to add value to the information, products and services we can provide to our members and employers.