My Super What it means to you Warringal Financial Services Is the - - PowerPoint PPT Presentation
My Super What it means to you Warringal Financial Services Is the trading name of NICA Group Pty Ltd Authorised Representative of GWM Adviser Services Limited ABN 96 002 071 749 Australian Financial Services Licensee registered office Level 1,
My Super
What it means to you
TRUST
Award-winning administration, high level of employer support, leading edge investment management, comprehensive insurance
Combined with our depth in corporate superannuation, MasterKey Business Super gives you and your clients the confidence MLC is the right choice
SECURITY
125 years’ experience
We’re one of Australia’s most trusted and awarded wealth managers
AWARD-WINNING SERVICE CONFIDENCE
MLC is the wealth management division of National Australia Bank making us a trusted and secure option for employers
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MySuper
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WHAT IS IT? WHAT DOES IT DO? HOW DOES IT WORK?
MySuper changes how default super works. It provides members with simple and cost effective default superannuation. Through standardised product features that enable members and employers to compare products more easily.
Core criteria in focus
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Single diversified or lifecycle investment strategy All members have access to the same
Only certain permitted fees and they must be consistently applied* All superannuation funds must provide Death and TPD insurance to members on an opt-out basis The government has deemed MySuper to pay no commissions
*Employer discounts can still apply to the administration fees Your MySuper offer includes:
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KEY PILLARS
A simple and easy MySuper design A single diversified MySuper investment option which maximises retirement
A MySuper Lifestage insurance design to ensure members are protected should the worst happen A member advice service to ensure members are making informed choices supported by advice
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A simple and easy MySuper design
An offer designed to make it easy for members to engage with their super and for employers to satisfy their obligations. By not creating a new product – instead embedding a new investment
Business Super Minimal impact - no need for members to change their account number or move from
Existing members retain the same account and the way they deal with us won’t change For existing members* and new members. Existing balances and arrangements can be grandfathered until 2017
* Existing members who have not elected an alternate investment option (other than the current default) and new members will have MySuper established as their new default.MySuper
NO FUSS MINIMISE CHANGE DEFAULT OPTION HOW?
Still SuperEzy
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The way members and employers deal with their Business Super accounts will not change. Paying contributions, adding new members and updating member details will continue through our clearing house, SuperEzy.
THE STATISTICS
A single diversified MySuper investment option
Investment professionals recognise that single diversified products can produce better retirement outcomes*. Current lifecycle products are simplistic, one-size fits all
apathy.
THE SOLUTION
A single diversified
70/30 portfolio for
greater comparability and also out performs a simple lifecycle
By offering a single diversified investment strategy, the aim is to help maximise the retirement outcomes for members and drive engagement through informed choice MLC doesn’t rely on “age banding” which can crystalise losses or gains. Instead it supports the value of advice and empowers clients to become more engaged with their super.
Active management
MLC’s investment approach keeps true to their active management beliefs.
More on MySuper investment option
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You have an expert asset manager working on each aspect of your investment – at all times.
Better peace of mind for you
Value For Money
Whilst ‘active management’ is provided cost levels are kept down by using passive and active investment strategies.
Only indexing where it makes sense
Exposure To Growth
A 70/30 fund to provide the right exposure to growth with the right level of downside protection.
As we’re living longer, you will need exposure to growth assets for longer.
Did you know?
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At age 60
The right investment option depends on a number of factors - not just your age You have probably got around 25 years to live Our approach is to encourage advice, and depending on your circumstances a better strategy for this time period is likely to be
70:30
Not 30:70 as would be the case with a standard lifecycle option
MLC MySuper investment solution will be managed by JANA. They are one of Australia's leading and most successful investment consultants – trusted to invest and advise on over $220bn in global investments
Introducing JANA
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The success and growth of JANA has been driven by the quality of their research, innovation and thought leadership
Investment Approach
Over 7 years
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top 10 balanced funds
Over 3 years
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top 10 balanced funds
Over 5 years
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top 10 balanced funds
JANA has a proven track record. Their strategic advice has helped clients to outperform through all market cycles.
Consistent Outperformance
Source: Chant West Multi-Manager Quarterly (31 Dec 2012)15
JANA is currently the investment adviser to:
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top 10 balanced funds
THE STATISTICS
Source: Rice Warner Underinsurance in Australia Report, 2012.16
A MySuper Lifestage insurance design
It’s widely accepted that there is an underinsurance problem in Australia.
Unlike investments, there’s a widely accepted correlation between insurance needs and age.
THE SOLUTION
Introducing the
The median level of life insurance only meets
needs. An insurance model that provides the best level of cover - at the times you need it most.
MLC Lifestage insurance
Designed to maximises retirement outcomes and insurance protection – at any age.
More on MLC Lifestage Insurance
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Higher levels of TPD when you’re young and lower Death cover. It peaks at 35 where members have high debt and dependents at home. And gradually declines as dependents reach maturity, mortgages are repaid and as retirement income becomes more of a focus.
It’s intelligent cover to reflect needs but is it right for you?
MLC will also retain their full range and wide variety of insurance choice for both members and employers.
Death TPD Did you know?
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Being underinsured is a serious problem
We see too many cases where insurance payouts are simply not enough to support members.
A 46 y.o. single father paid a $46K total and permanent disablement benefit from his $2 p.w. insurance.
This will not even cover the cost of household and
costs, let alone provide an income
Basic cover members will be automatically upgraded with the ability to opt-out. Standard rates for new members will have premiums based on new MySuper compliant and gender based rates MLC Lifestage removes the risk of not providing adequate cover and will be offered as the new insurance design for all new members. In the spirit of choice and flexibility existing designs will be maintained if requested
For Employers For Members
More on MLC Lifestage Insurance
*These will be age, occupation and gender based, and cannot include commissions. All existing insurance options will remain available or be improved; giving members the flexibility to meet their specific needs. Existing tailored rates will continue less commissions Let’s make the transition simple
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To protect existing benefits, all current insurance arrangements for existing members will remain in place with:
Existing benefit designs Premium rate basis Servicing arrangements* Terms and conditions
*Including the service of the Plan adviser THE STATISTICS
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A member advice service
What’s recognised as the largest industry ‘satisfaction gap’? Access to quality advice
Advice is the best way to improve member engagement with their superannuation and ultimately improve retirement outcomes*.
OUR SOLUTION
EXPERT
All MySuper members get access to the same features, benefits and services We’ve embedded advice into our MySuper offer and we encourage members to contact us to seek further personal advice on their needs Our member advice service incorporates online and phone-based tools We will provide clients with the right level of advice, at the right time, in the most cost effective way for members
Our phone based advice team is a call away for simple requests Including any limited advice provided, along with suggested implementation steps
More on our member advice service
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Online tools that allow members to adjust various levers to understand the impact on their super*
More tools More phone support More knowledge to make informed choices and decisions More advice
Advice matters
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KPMG Research shows that individuals with a financial adviser
saved
more per annum*.
*After the cost of the initial plan
more in retirement for the average 30 year old.
This equated to
MySuper?
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Trust
Award winning service
Security
Confidence
A simple and easy MySuper design
A MySuper Lifestage insurance design to ensure members are protected should the worst happen
A single diversified MySuper investment option which maximises retirement outcomes
A member advice service to ensure members are making informed choices supported by advice
So what are my choices
Login to mlc.com.au and follow the prompts or complete the MySuper choices form or call us Login to mlc.com.au and select Investment Switch or call us Contact us to discuss your options 03 9459 2966 www.warringalfs.com.au Your future SG contributions will go into the LifeStage Option and your existing balance will remain where it is
doing anything
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The design of cover you currently hold within your super fund –Basic or Tailored – will determine the cover you are offered Refer to your individual correspondence & contact us to discuss your options
I have
Complete your MySuper choices form before 7 November 2013 Complete your MySuper choices form before 7 November 2013 Anytime N/A
Deadlines Apply
automatically
current super balance invested in your current investment option
Insurance or death only insurance can keep their current insurance
insurance
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Our Contact Details
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(03) 9459 2966 www.warringalfs.com.au
General Advice Warning
tailored to your personal circumstances. Please seek personal advice prior to acting on this information.
and read the Product Disclosure Statement (PDS) relating to that product.
legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way.
companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this document.