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Click on these questions for the full picture
What types of contributions can you make to NGS
Super?
Why do you have automatic insurance cover on your
account?
How do you increase/decrease/cancel insurance?
Does NGS Super offer Contribution Splitting?
If you are working in Australia on a working visa, how
do you claim your super?
Does NGS comply with UK Pension scheme
requirements?
How do you give your partner/friend/financial advisor
access to your account information?
How do you switch investment choice?
If you have money in other funds, can you roll them
over into NGS and how do you it?
What is a unit price?
What fees do you incur on your account?
How can you get Financial Advice?
What happens to your account when you leave an
employer?
What do you do if your employer is not making
contributions?
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What types of contributions can you make to NGS Super?
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After-tax (Member) contributions: you have the option to make regular personal
contributions, deducted from your post tax earnings up to the legislated limit. This can be
arranged as a regular payroll deduction through your employer payroll area. By topping-up from your
after-tax income you may also be entitled to the Government co-contribution.
Lump Sum Contributions: you can also make a lump sum payment up to allowable
limits at any time. By simply attaching a cheque, made payable to NGS Super with a covering letter,
or by downloading and completing a
Lump Sum Payment Form.
Before tax (Salary Sacrifice) contributions: with the prior approval of your
Employer, you can make regular contributions on a before-tax or salary sacrifice basis. Depending
on your individual situation, salary sacrificing into super may save you tax. This can be arranged
through your payroll or by downloading and completing a
Voluntary Contributions Form
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Why do you have automatic insurance cover on your account?
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The Trustee views insurance as an important benefit for members and your
dependants. If you become permanently disabled or die, your NGS Super Death and Total and Permanent
Disablement insurance cover can provide you, your dependants or estate with a lump sum payment. If
you have to stop work because of an illness or injury, our Income Protection (IP) may provide you
with a monthly income to assist with your living expenses until you are able to return to work.
Cover is not compulsory and you may elect to reduce or decline your cover at any time.
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How do you increase/decrease/cancel insurance?
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If you wish to apply for new or increased cover, as well as reduce or
cancel your cover altogether, you will need to complete an
Insurance Variation Form. You will also need to provide additional health
information for an increase in cover.
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Does NGS Super offer Contribution Splitting?
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NGS Super does offer contribution splitting to members. You
can request your contributions to be split by completing the
Contributions Splitting Form.
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If you are working in Australia on a working visa, how do you claim your
super?
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People who entered Australia on an eligible temporary resident visa and who
later permanently leave Australia may claim any super they have accumulated. This provision does
not apply to Australian and New Zealand citizens, even if they were the holder of an eligible
temporary visa. For more details and to download an application form visit the ATO website at
www.ato.gov.au/super
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Does NGS comply with UK Pension scheme requirements?
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The UK HM Revenue and Customs have approved NGS Super as a Qualifying Recognised Overseas
Pension Scheme (QROPS).
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How do you give your partner/friend/financial advisor access to your
account information?
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To provide information to another party, NGS Super requires written
authority, which remains valid for 12 months.
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How do you switch investment choice?
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By completing an
Investment Portfolio Switching Form you can elect to change the investment
option of your current account balance and/or for all future contributions, rollovers and
transfers. You are entitled to one free investment switch each financial year. Any additional
switch will incur a fee, currently $30. You will also incur the buy/sell spread which applies when
you purchase units in any investment option.
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If you have money in other funds, can you roll them over into NGS and
how do you it?
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As a member, you are able to transfer other superannuation benefits into
your account with NGS Super. Rolling over superannuation accounts may help you keep track of
your money and may save you extra fees. By completing a
Transfer Authority Form and returning it to NGS Super, it allows you to
transfer any inactive accounts into NGS Super.
While NGS Super does not charge you an entry fee for transferring your money in, you should
check whether your other fund(s) charge you an exit fee.
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What is a unit price?
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Your contributions, rollovers and transfers are used to purchase investment
units, which represents a portion of the funds underlying investments in your particular investment
option.
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What fees do you incur on your account?
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The fund charges a maximum administration fee of $1.25 per week ($65.00 per
annum). Percentage based investment management fees are passed onto members by way of an adjustment
to unit prices. Investment switching and withdrawal fees, currently $30, only apply in limit
circumstances. All fees and charges are listed on pages 27 to 29 of the
Product Disclosure Statement.
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How can you get Financial Advice?
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NGS Super members can access one hour of free financial planning
consultation as part of your membership each year. To take advantage of this no obligation free
financial planning consultation, just call the number below in the state where you live, or you
wish to attend, and arrange an appointment.
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All states
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Mercer Wealth Solutions
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1300 883 318
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SA
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Industry Fund Financial Planning (IFFP)
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1300 138 848
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What happens to your account when you leave an employer?
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If you leave employment, your benefit can remain with NGS Super. It will
continue to be updated with investment returns and you will be provided with regular updates. If
you are changing jobs to an employer who also contributes to NGS Super, simply provide your
membership details to your new employer. Employers outside the education industry may also join NGS
Super.
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What do you do if your employer is not making contributions?
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A:
An employer has obligations under the Super Guarantee (SG) legislation to
submit SG payments at least quarterly. However, there may be occasions when an employer is not
obliged to contribute, for example if an employee earns less than $450 in a month. Employers who
fail to comply with SG requirements, may incur a super guarantee charge, which includes SG
payments, lost earnings and administration charge(s). If you have not received contributions
into your account, please contact your employer. You can also contact the ATO on 13 10 20 for
further information.
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