New supplementary product guide and changes from 1 July 2010
1 July 2010
Today we have issued a new super supplementary product guide (PDS), which outlines a number of changes to Australian Ethical Super. The following is a summary of the changes that will affect new and existing investors:
Changes for individuals and pre-retirees/retirees
- name changes to the existing investment
strategies:
- Income Strategy to Defensive
- Balanced Strategy to Balanced
- Large Companies Share Strategy to Growth
- Equities Strategy to Smaller Companies
- World Strategy to International Shares
- introduction of buy-sell spreads
- annual member fee increase to $51.25 per annum
- increase to indirect costs
- new insurance arrangements
- for individuals, new payment methods for super contributions, including the introduction of BPAY
- for pre-retirees/retirees, updated pension payment limits by the Australian Government.
Changes for employers
- new product guide application forms for employers
- updated forms for existing employers
- new payment methods for employee contributions, including Medicare’s new Clearing House service.
More details are found in the supplementary product guide.
