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Important changes and information – February 2018


Published February 2018

A summary of significant product or regulatory changes that may impact your ANZ Smart Choice Super account.

Insurance and fees update

As a member of ANZ Smart Choice Super, you may have received a recent communication regarding important changes and enhancements to your superannuation account. These changes include insurance enhancements that may have an impact on your level of cover and insurance fees, as well as information relating to levies and expense recoveries that are expected to be charged for the 12 months to 30 June 2018.

A Reference Guide is available to help you understand the changes and their impact on your level of cover and fees. A link to the Reference Guide can be found in your letter, or you can download it at anz.com/smartchoice.

If you have any questions or require further information, please call Customer Services on 1800 290 686.

Re-issue of the PDS for the ANZ Smart Choice Super product suite

The above insurance enhancements will be incorporated in the Product Disclosure Statements (PDS) for the ANZ Smart Choice Super suite of products*, and the updated PDS will be reissued on 17 March 2018. 

The PDS will be available to download from anz.com/smartchoice from this date.  

The following documents are being updated:

 

Product
 
Disclosure documents being updated
 
ANZ Smart Choice Super and Pension 

PDS

Additional Information Guide

Electronic Access Terms and Conditions

ANZ Smart Choice Super for employers and their employees 

 

PDS

Additional Information Guide

Fees Guide (Incorporating fees, costs and buy sell spreads)

Insurance Guides – Standard and Tailored Employer Plans

Electronic Access Terms and Conditions

ANZ Smart Choice Super for QBE Management Services Pty Ltd and their employees 

 

PDS

Additional Information Guide

Fees Guide (Incorporating fees, costs and buy sell spreads)

Insurance Guide for QBE Management Services Pty Ltd

Electronic Access Terms and Conditions


*ANZ Smart Choice Super is a suite of products consisting of ANZ Smart Choice Super and Pension, ANZ Smart Choice Super for employers and their employees and ANZ Smart Choice Super for QBE Management Services Pty Ltd and their employees (together “ANZ Smart Choice Super”). ANZ Smart Choice Super and Pension is a retail product issued pursuant to the PDS dated 28 September 2017. ANZ Smart Choice Super for employers and their employees and ANZ Smart Choice Super for QBE Management Services Pty Ltd and their employees are both MySuper compliant employer products issued pursuant to separate PDSs dated 28 September 2017.

Talk to us about superannuation

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ANZ Smart Choice Super is a suite of products consisting of ANZ Smart Choice Super and Pension, ANZ Smart Choice Super for employers and their employees and ANZ Smart Choice Super for QBE Management Services Pty Ltd and their employees (together ‘ANZ Smart Choice Super’). ANZ Smart Choice Super and Pension is a retail product issued pursuant to a Product Disclosure Statement (PDS). ANZ Smart Choice Super for employers and their employees and ANZ Smart Choice Super for QBE Management Services Pty Ltd and their employees are both MySuper compliant employer products issued pursuant to a separate PDS for employer plans and PDS for QBE.

ANZ Smart Choice Super is issued by OnePath Custodians Pty Limited (OnePath Custodians) (ABN 12 008 508 496, AFSL 238346, RSE L0000673), and the ANZ Smart Choice Super and Pension product is distributed by Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522). ANZ is an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). OnePath Custodians is the issuer of ANZ Smart Choice Super but is not a Bank. Except as set out in the relevant Product Disclosure Statement (PDS), this product is not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuer or the capital or performance of any investment. Such investment is subject to investment risk, including possible repayment delays and loss of income and principal invested. Returns can go up and down. Past performance is not indicative of future performance.

ANZ Smart Choice Super and Pension received a Gold rating in SuperRatings’ 2019 product rating in both the Super and Pension categories. ANZ Smart Choice Super for employers and their employees received a Gold rating in SuperRatings’ 2019 MySuper product rating. SuperRatings does not issue, sell, guarantee or underwrite these products. Go to www.superratings.com.au for details of its ratings criteria.

This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. Before acting on this information you should consider whether the information is appropriate for you having regard to your objectives, financial circumstances or objectives. ANZ recommends that you read the ANZ Financial Services Guide, the relevant Product Disclosure Statement, product and other updates which are available by calling Customer Services on 13 12 87, or visiting our website here or here (for employer members), and consider whether the product is right for you before making a decision to acquire or to continue to hold the product. 

Taxation law is complex and this information has been prepared as a guide only and does not represent taxation advice. Please see your tax adviser for independent taxation advice. The information on insurance cover is a summary only of the terms and conditions applying to the insurance cover. To the extent there is any inconsistency with the terms of the insurance cover provided by the insurer, the terms of the insurance policy will prevail. 

Before re-directing your super or moving your money into ANZ Smart Choice Super, you will need to consider whether there are any adverse consequences for you, including exit fees, other loss of benefits (e.g. insurance cover), investment options and performance, functionality, increase in investment risks and where your future employer contributions will be paid.

ANZ does not represent or guarantee that access to ANZ Internet Banking or the ANZ App will be uninterrupted. Temporary service disruptions may occur. ANZ recommends that you read the ANZ App Terms and Conditions available at anz.com and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App. The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them.

In addition to their salary, ANZ staff members may receive monetary or non-monetary benefits depending on the product they are selling or providing advice on. You may request further information from ANZ. Other key features including insurance, available investment options and performance, exit fees and functionality are relevant when choosing a super fund. 

This information may be subject to change. Updated information will be available free of charge by calling Customer Services on 13 12 87.