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Service outage: weekend of 8 October 2011 Please note that systems maintenance scheduled for Saturday 8 October 2011 will require us to turn off all servers. This will affect our online services which will be unavailable between 7am and 7pm on that day. These services may also be unavailable on Sunday 9 October if additional maintenance time is required. Website unavailable 8-11pm on 28 September 2011 - 27.9.11 Please note that, due to server maintenance scheduled for Wednesday 28 September 2011, the Aon Master Trust website will be unavailable between 8:00pm and 11:00pm on that day. Processing hold 1 - 5 July 2011 inclusive - 1.6.11 Please note that transaction processing will be put on hold between Friday 1 July 2011 and Tuesday 5 July 2011 (inclusive), allowing us to test, check and audit final unit prices. This rigorous process is an essential step in determining members' super account balances for 30 June 2011 benefit statements. This hold applies to all transaction requests, including contributions, rollovers, investment switches, benefit quotations* and payments and online services. Transaction requests received after Thursday 30 June will be processed as quickly as possible, in order of date received, once processing resumes. We process within time limits that conform to standards maintained by the trustee, using the price applicable on the date of processing. Contributions and rollovers As you'll appreciate, the end of financial year is a very busy time and so we encourage you to get your contributions and rollovers to us by Friday 24 June 2011. This will help us ensure that your account is up to date for 30 June 2011 benefit statement purposes. Benefit payments and investment switches To allow us to process any benefit payment and investment switch requests so that they appear on the 30 June 2011 benefit statements, we must receive such requests by Friday 24 June 2011. If you have any queries about these timelines, please call us on 1300 880 588. * We will be able to provide an approximate benefit quotation as at 30 June 2011 only (please call us on 1300 880 588 or email us to request a quotation). Please note that essential systems maintenance is still taking place and requires us to continue to place a hold on all processing until further notice. Processing will resume once maintenance has been completed. You can submit updates (including investment changes and member updates) using the online service, however no processing will take place. Updates submitted will be held and processed as soon as possible on completion of the maintenance. Important: If you request a benefit quotation it will be generated using unit prices as at 23 May 2011 until the maintenance is completed. We apologise for any inconvenience. Outage to continue into Tuesday 24 May 2011 - 23.5.11 Essential systems maintenance being carried out today (see notice below) will require up to an additional 24 hours. This means that there will be no processing of any nature (including contributions, benefit payments and investment switches) today and tomorrow (Tuesday 24 May). Our online services will also be unavailable on both days. Normal processing and services will resume on Wednesday 25 May 2011. Processing/service outage: Monday 23 May 2011 - 18.5.11 Please note that essential systems maintenance scheduled for Monday 23 May 2011 will require us to turn off all servers and infrastructure. This means that there will be no processing of any nature (including contributions, benefit payments and investment switches) on that day, and our online services will be unavailable. Normal processing and services will resume on Tuesday 24 May 2011. Service outage: Saturday 5 March 2011 - 3.3.11 Please note that systems maintenance scheduled for Saturday 5 March 2011 will require us to turn off all servers and infrastructure. This will affect our online and phone services which will be unavailable between 8:00am and 5:00pm on that day. Service outage: weekend of 8 January 2011 - 5.1.11 Please note that systems maintenance scheduled for Saturday 8 January 2011 will require us to turn off all servers and infrastructure. This will affect our online and phone services which will be unavailable between 7am and 7pm on that day. These services may also be unavailable on Sunday 9 January if additional maintenance time is required. Holiday schedule - enquiries and transactions Enquiries Please note that Aon offices will be closed from Friday 24 December to Monday 3 January inclusive. However, if you have any enquiries about your super over the Christmas/New Year period, our contact centre (1300 880 588 or email) will be operating as follows:
Transactions If you are requesting a transaction on your super account and want it to be processed by the end of December, please ensure we receive your request (together with any required documentation) by 20 December to allow for processing time. Service outage: weekend of 27 November 2010 - 22.11.10 Please note that systems maintenance scheduled for Saturday 27 November 2010 will require us to turn off all servers and infrastructure. This will affect our online services which will be unavailable between 7am and 7pm on that day. These services may also be unavailable on Sunday 28 November if additional maintenance time is required. Service outage: weekend of Saturday 13 November 2010 - 12.11.10 Please note that systems maintenance scheduled for Saturday 13 November 2010 will require us to turn off all servers and infrastructure. This will affect our online services which will be unavailable between 7am and 7pm on that day. These services may also be unavailable on Sunday 14 November if additional maintenance time is required. For the fifth year running, Aon Master Trust Corporate Super has been awarded the highest possible rating - Platinum - by independent agency SuperRatings. This places us in the top 15% of all superannuation funds/trusts in Australia and also earns us SuperRatings' 5 year Platinum Performance rating. In their analysis, SuperRatings recognises Corporate Super as a best value for money superannuation fund and a premium performer in the areas of insurance cover, insurance costs, and administration. The Aon Master Trust has also retained its 5 Heron Quality Stars - the highest rating awarded by independent research firm, The Heron Partnership. 2010 annual report now available online If you would like a printed copy of this annual report (free of charge) please call us on 1300 880 588 or email us. Service outage: weekend of Saturday 25 September 2010 - 16.9.10 Please note that systems maintenance scheduled for Saturday 25 September 2010 will require us to turn off all servers and infrastructure. This will affect our phone enquiry and online services which will be unavailable between 8am and 5pm on that day. These services may also be unavailable on Sunday 26 September if additional maintenance time is required. Contributions and rollovers in lead up to 30 June As you'll appreciate, the end of financial year is a very busy time and so we encourage you to get your contributions and rollovers to us by Friday 25 June. This will help us ensure that your account is up to date for 30 June 2010 benefit statement purposes. The member fee will increase in line with Average Weekly Ordinary Time Earnings at 1 July 2010. This will mean your annual member fee will increase from $66.50 to $70.32. Details of all fees will be set out in the 1 July 2010 Product Disclosure Statements. Non-standard member fees that have been negotiated with individual employers will not be increased until the expiry date of the fee guarantee. Members of these funds will be notified separately of any changes to fees. Processing freeze 1 July to 6 July 2010 inclusive - 11.5.10 Please note that transaction processing will be put on hold between Thursday 1 July 2010 and Tuesday 6 July 2010 (inclusive), allowing us to test, check and audit final unit prices. This rigorous process is an essential step in determining members' super account balances for 30 June 2010 benefit statements. This hold applies to all transaction requests, including contributions, rollovers, investment switches, benefit quotations* and payments and online services. Transaction requests received after Wednesday 30 June will be processed as quickly as possible, in order of date received, once processing resumes. We process within time limits that conform to standards maintained by the trustee, using the price applicable on the date of processing. Contributions and rollovers As you'll appreciate, the end of financial year is a very busy time and so we encourage you to get your contributions and rollovers to us by Friday 25 June. This will help us ensure that your account is up to date for 30 June 2010 benefit statement purposes. Benefit payments and investment switches To allow us to process any benefit payment and investment switch requests so that they appear on the 30 June 2010 benefit statements, we must receive such requests by 25 June 2010. If you have any queries about these timelines, please call us on 1300 880 588. * We will be able to provide an approximate benefit quotation as at 30 June 2010 only (please call us on 1300 880 588 or email us to request a quotation). Henry Tax Review: Positive aspects for super Releasing the Henry Review (Australia’s Future Tax System) on 2 May 2010, the Government has reconfirmed superannuation's central role in personal and national savings. Key measures in the Government's response to the review, which has many positives for super and the adequacy of income in retirement, include:
See the Government's factsheets for more information. Online service outage Sunday 28 February 2010 Our online systems will be undergoing routine maintenance on Sunday 28 February from 10.30 am to 12.30 pm. Online account access will not be available during this time. We apologise for any inconvenience. Russell signs up to UN PRI - 19.10.2009
The United Nations Principles for Responsible Investment (UN PRI) aim to help investors consider environmental, social and governance (ESG) factors in their investment decision-making. Aon Consulting Worldwide is a signatory to the UN PRI and the Aon Master Trust asks investment service providers to integrate ESG factors into their research and analysis. Russell Investments, one of our service providers, became a UN PRI signatory in September 2009. 'Russell became a UN PRI signatory in recognition of the increasingly widespread client demand for strategic advice and solutions that take into account ESG considerations,' said president and CEO Andrew Doman. 'These are issues that impact not only our clients' investment portfolios and long-term financial security, but also the business and personal communities in which our clients live and work around the world.' While recognising the importance of ESG factors, the Aon Master Trust bases its selection, retention, and redemption decisions primarily on the potential economic benefits to our members. Our ethical investment option, Australian Shares – Socially Responsible, uses positive and negative screens for ESG factors. Online service outage 10-11 October 2009 Our online systems will be undergoing routine maintenance on Saturday 10 October and Sunday 11 October 2009. You will not be able to access your member account online during this time. We apologise for the inconvenience. Full functionality will be available to members from 6:00am on Monday 12 October 2009. AIG Life re-brands as AIA - 1.9.2009
Our group life insurer, AIG Life, has announced its change of brand to AIA, reflecting its brand alignment with the rest of the AIA Group across the Asia region. The company has also changed its name to AIA Australia Limited. The re-brand means a change to AIG Life's name and brand (including logo, signage and the appearance of its website and material). AIA has confirmed that the re-brand has no impact on pricing, terms or conditions for current rate guarantees in place with clients. Business operations and capital investment in service improvement initiatives are also unaffected. AIA Group CEO and President, Mark Wilson said, "This important re-branding will unify our business activities under one strong pan-Asian identity. Our new refreshed visual identity is an iconic statement of AIA as a leading contemporary Asian brand, while continuing to demonstrate the heritage and financial strength our customers trust." There is no obligation on the Aon Master Trust to reissue its Product Disclosure Statements as a result of the brand change. We will, of course, reflect the AIA brand as and when we update our disclosure, marketing and communication material. www.aia.com.au Russell's new Head of Investment Consulting - 31.8.2009 Our investment management partner, Russell, has announced the appointment of Greg Liddell as its new Head of Investment Consulting for Australia. According to Russell's media release, this announcement "reinforces Russell's move to focus even greater energy and expertise on managing the evolving investment challenges faced by the world's most sophisticated institutional investors." Aon Master Trust index fund manager – move to Vanguard - 29.7.2009 The Aon Master Trust has appointed Vanguard Investments Australia Ltd as index fund manager, replacing State Street Global Advisors (SSgA). Why the transfer? SSgA's securities lending practices include a level of risk in their index trusts (as reflected in recent increases in sell spreads) that, in the trustee's view, has become inappropriate for the Aon Master Trust. Vanguard has a very limited and very conservative approach to lending securities which is better aligned with the Aon Master Trust's risk objectives. Vanguard – a pioneer in index funds Vanguard was founded in 1975 in Valley Forge, Pennsylvania. Since establishing the first indexed mutual fund in the US in 1976, the Vanguard Group has grown into one of the world's largest and most respected investment management companies. Vanguard now has global presence with offices in the US, Melbourne, Sydney, Brussels, Tokyo and Singapore and has been offering index funds in the Australian market for over 10 years. Vanguard uses partial replication (ie investment in a representative sample of securities in an index) to produce return and risk characteristics in line with the target index. Partial replication is more cost-effective than full replication (investment in all securities in an index) and is necessary in some asset classes in which the index includes illiquid securities. Vanguard also maintains an informative and practical website. The site gives investors and advisers access to a wide range of material, including Vanguard's profile and investment approach, option factsheets, performance data, news, market reviews and education on managed funds. How does the transfer affect Aon Master Trust options that invest in index funds? There has been a minor revision to:
See our option profiles for details. There is no change to the options' objectives, strategic asset allocations, management fees, risk profiles or suggested minimum timeframes. Transfer method and timing The Australian investments were transferred from SSgA to Vanguard in June 2009. The majority of these were transferred 'in specie' which is often the most cost and time-effective way to transfer assets. With in specie transfers, assets are not converted into cash to purchase other assets. This avoids broking and other costs that would apply if assets were being sold and bought. The international investments will be transferred gradually over a number of months in cash amounts determined by SSgA's restrictions on redemptions*. Increased costs and the small size of the monthly redemptions preclude in specie transfer of these assets. * SSgA currently limits redemptions to $2.5 million per month from any fund. Our Pension is a real (5) star! Independent research firm, The Heron Partnership, has awarded the Aon Master Trust Pension 5 Heron Quality Stars in their 2009/10 ratings. This is Heron's first rating of pension products so we're delighted to see the Aon Master Trust Pension receiving the highest award right off the bat. Aon Master Trust Corporate and Personal Super have once again been awarded 5 Heron Quality Stars. For the 2009/10 year, Heron assessed 85 pension products and more than 180 superannuation products. Their assessment covered five areas of importance: Super products
Pension products
This award recognises each of the Aon Master Trust's products as 'an outstanding product with a great depth of features and hence flexibility.' Transaction processing has resumed on 14 July 2009 The transaction processing freeze which started on 30 June has now been lifted. The processing of transaction requests resumed on 14 July with requests being processed as quickly as possible and in order of date received. Online services are operating as normal. Please call us on 1300 880 588 if you have any queries. Pension payment election for 2009/2010 Election letters will be sent in July Following feedback from a number of members last year, we are deferring the issue of pension election letters for 2009/2010 until after 1 July 2009 account balances are confirmed. We expect these letters to go out in the third week of July. Why the change? Past practice has been to issue election letters by early June, with an estimate of the member's account balance at 1 July. While this approach had worked well previously, the extraordinary volatility in investment markets last year meant that many pensioners based their election on an estimate that was quite different from the actual balance that eventuated at 1 July. Given market volatility, we are issuing election letters for 2009/2010 as soon as our annual benefits review has confirmed account balances. This will enable members to make their payment election based on their actual balance at 1 July 2009 rather than on an estimate. Payments in 2009/2010 The first payment will be made on 15 July 2009 based on the member's election for 2008/2009. As soon as we receive the member's election for 2009/2010, subsequent payments will be adjusted to ensure the drawdown for the financial year reflects that election. If you have any questions about payment election letters, please call us on 1300 880 588 or email contactaon@pillar.com.au. For financial advice on pension payment amounts, please contact your adviser. If you do not have an adviser but would like to be put in touch with one, call us on 1300 880 588. Contributions & rollovers in lead up to 30 June For contributions and rollovers to be reflected on the 30 June 2009 statements, they must reach us together with the required documentation by 30 June. If they reach us after 30 June, they will be held in our bank account during the processing freeze (see separate news item) and used to purchase units on the day we process them. If sending contributions by post, please allow sufficient postage time for your contributions to reach us no later than the morning of 30 June 2009. Our postal address is: Aon Master Trust
If you wish to make a contribution by electronic means or deposit a cheque or money directly to the Trust's bank account, please call us on 1300 880 588 for instructions on how you can do this. Processing freeze – 30 June to 14 July 2009 Please note that transaction processing will be suspended between 30 June and 14 July 2009. This will allow us to test, check and audit final unit prices - an essential step in ensuring that your 30 June 2009 benefit statement reflects the true financial position of your investment holdings. The freeze applies to all transaction requests, including contributions, rollovers, benefit quotations*, benefit payments**, investment switches**, and online services. * Benefit quotations - during the freeze period, we will be able to provide an approximate benefit quotation as at 29 June 2009 only (please call us on 1300 880 588 or email us to request a quotation). ** Benefit payments and investment switches - transaction requests for benefit payments or investment switches (including all required supporting documentation) need to be received by 26 June in order to be processed by 30 June. Any transaction requests received after 26 June will be processed as quickly as possible, in order of date received, once the freeze is lifted. Please call us on 1300 880 588 if you have any queries. We're a Heron high-flyer (again) The Aon Master Trust has once again received 5 Heron Quality Stars - the highest rating awarded by independent research firm, The Heron Partnership. For the 2009 year, the firm assessed more than 150 superannuation products, covering about 130 features of each super product categorised under five areas of importance:
This award recognises the Aon Master Trust as 'an outstanding product with a great depth of features and hence flexibility.' 2008 annual report now available online This is the first year we've gone eco with the annual report - making it available online instead of in print. If you would like a printed copy of this annual report (free of charge) please call us on 1300 880 588 or email us. Pillar to start processing from 8 October 2008 The transition of member and account data to Pillar is now complete. As anticipated, Pillar can start processing member detail changes and cashflow transaction requests from 8 October 2008. Requests will be processed in date order. We are, however, experiencing a few days delay in transitioning our online services to the Pillar platform. For information or transactions that you would normally access online, please call 1300 880 588 or email contactaon@pillar.com.au for assistance. New contact and banking details - 1 October 2008 The move to Pillar (our new administration services provider) means that we have new postal and email addresses and a new bank account starting today - 1 October 2008. New addresses If you need to get in touch with us please use the details shown below. Re-directions will be in place until 31 January 2009 so, if you use the 'old' details during the re-direction period, any enquiries you make will still get where they need to go. New postal address New email address New fax number (updated at 29 Oct 08) Phone number
New banking details for electronic funds transfer (EFT) payments Members and employers who make contributions or other payments to the Aon Master Trust by EFT should now use the new banking details. Please contact us on 1300 880 588 or email contactaon@pillar.com.au for the new details and information you need to provide with your EFT payments. Our 'old' account (with Macquarie Bank) will continue to accept EFT payments for a limited time. Those payments will be transferred (at no cost to you) to our new bank account. If you do make an EFT payment to the 'old' account, Pillar will contact you to remind you of the new banking details. Direct debit payments If you have a direct debit agreement in place, there is nothing you need to do. The agreement will transfer automatically to our new bank. Cheque payments If you are making a payment by cheque, please make the cheque payable to 'Aon Master Trust' and send it to our new postal address: Aon Master Trust
Today's events in financial markets (30 Sep 2008) The US congress has today rejected the taxpayer-funded rescue plan for the financial system. This has caused severe market downturns in the US and globally, and is the latest in a series of almost daily twists and turns in the marketplace. While we expect ongoing turbulence in the short term, our view during this difficult time for investors remains unchanged:
Aon Master Trust processing freeze 16 September to 8 October 2008 The current transaction processing freeze was planned several months ago as a critical part of our transitions to Pillar (new administration services provider) and Russell Investment Group (investment management). The transitions and freeze have been communicated to members, employers and advisers through our website, online services and newsletters. Regrettably, the freeze has coincided with this most recent market turmoil. While we recognise and understand the frustration that some of our members may be experiencing at the present time, the moves to Pillar and Russell are part of our strategy to continue offering innovative superannuation and pension solutions to all members. Please note that the processing of transaction requests will resume on Wednesday 8 Special notice - processing freeze 16 September to 8 October The transitions to Pillar (our new administration services provider) and Russell Investment Group (appointed to manage most of the Aon Master Trust's investments) will require us to suspend the processing of member detail changes (such as address and beneficiary changes) and cashflow transactions between 16 September and 8 October 2008. This freeze will ensure the stability of member and account data during the transition phase and will apply to all changes and transactions, including on-line. Normal processing/online services will resume on 8 October. Contributions and cashflow instructions
Contributions submitted (with all supporting documents) by 10 September will be processed and loaded before the suspension. Any contributions or cashflow instructions received after 10 September will begin to be processed in date order from 8 October. Benefit quotation requests
During the freeze period, we will be able to provide an approximate benefit quotation as at 15 September (please call us on 1300 880 588 or email us to request a quotation). We regret any inconvenience that the suspension of these services may cause and we appreciate your understanding. Please call us on 1300 880 588 if you have any queries. We’re streamlining investment choice Aon has recently made the decision to appoint global investment specialist, Russell Investment Group, to manage most of the Aon Master Trust’s investments via its range of multi-manager funds. Along with the transition to Russell, we are making a number of changes to our investments. Key changes include:
These investment changes were outlined in the May 2008 Directions newsletter and are explained in more detail in the factsheets Corporate Super & Personal Super – investment changes 2008 and Pension – investment changes 2008. Following last year’s successful introduction of minimum level default cover, the trustee has negotiated the next phase of insurance enhancements for Aon Master Trust members.
For more information, see Insurance enhancements – 2008. Special notice – temporary suspension of transaction processing Transaction processing will be suspended between 27 June and 21 July 2008. This freeze period is required to allow the testing, checking and audit of final unit prices – an essential step in determining members’ super account balances at 30 June 2008. The freeze period applies to all transactions, including:
We regret any inconvenience that this suspension may cause and appreciate your patience. Please call us on 1300 880 588 if you have any queries. * During the freeze period, we will be able to provide an approximate benefit quotation as at 29 June 2008 only (please call us on 1300 880 588 or email us to request a quotation). As noted in Directions we're making a number of improvements in the Aon Master Trust. In doing so, we have been able to keep any impact on membership fees to an absolute minimum. The trustee has approved an increase in the membership fee from the current $60 to $63 a year (an increase of less than 6 cents a week). This rise is in line with increases in Average Weekly Ordinary Time Earnings and will apply from 1 July 2008. Details of all fees will be set out in the 1 July 2008 product disclosure statements which will be available on the website or by calling us on 1300 880 558. Note: Non-standard membership fees that have been negotiated with individual employers will not be increased without the agreement of those individual employers. Members of these funds will be notified separately of any changes to fees. Aon Consulting Australia appoints Russell Investments to manage Aon Master Trust's assets (PDF) Special notice: Temporary suspension of cashflow processing as unit pricing moves to BNP The Aon Master Trust uses daily unit prices to process member transactions including investment switches and benefit payments. Receiving on-time and accurate daily unit prices is therefore a critical part of our member service delivery. BNP Paribas Fund Services Australasia Pty Ltd was appointed custodian of the Aon Master Trust's assets during 2007. The trustee is expanding the scope of this partnership, appointing BNP to also provide unit pricing services. BNP's ability to meet our unit pricing needs has been the key driver behind moving this key service to a specialised provider. The move to BNP will bring:
Suspension of cashflow processing - UPDATE While this change will not affect you on a day to day basis, we will need to suspend cashflow processing for several days. Cashflow processing will be suspended 22 – 24 April 2008. Contributions submitted (with all supporting documents) by 16 April will be processed and loaded before the suspension. Any contributions or cashflow instructions received after 16 April will be processed from 25 April. Aon to outsource super admin services (PDF) Aon to outsource super admin services (PDF) 15.2.08 Investment market peaks and troughs Investment markets were volatile in the December quarter, producing a slight negative return for both Australian and overseas shares for the quarter. Despite a slight recovery in early January, both Australian and overseas markets have fallen substantially since the start of the year. While you may find this downturn unsettling, it follows several years of very good returns, particularly for the Australian share market. Investment markets necessarily have peaks and troughs which usually correct themselves over time. Super is a long-term investment for most people, so you’re likely to have a number of peaks and troughs to weather along the way. If you have invested for the long term in investments that may be volatile, you should think carefully before switching out of them after a brief downturn – try to avoid snap decisions and short-term fixes. It’s also important to have a long-term investment strategy that’s right for you. You may choose a high risk/high return or lower risk/lower return strategy, but it is important that you pick a risk/return profile that you are comfortable with and one that is appropriate for your circumstances. If you think your investment strategy is no longer right for you, the Aon Master Trust has over 40 options for you to choose from, with a wide range of risk/return profiles. See the Product Disclosure Statement for details of these options, and our factsheets Introduction to asset classes and Understanding investment risk for more general investment information. You may also wish to seek some financial advice before making an investment decision. New identification (ID) requirements New rules that came in with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 mean that super fund members must now provide certified ID when making certain transactions on their super account. See our factsheet for more information on the ID rules and document certification process. Dream machine — will your super give you the income you'll want in retirement? The latest addition to our online calculators – the retirement income calculator – will tell you if the super you’ve built up by the time you retire will give you the level of income you’d like to have. You can test many different scenarios by entering the age at which you’d like to retire, your desired level of retirement income, your salary, super contributions and investment returns – even the rate of inflation. The calculator takes account of fund fees and insurance premiums and, if you’re planning to take time out from work, you can ask it to factor in a career break. 2007 annual report now available (PDF) 2007 annual report now available (PDF) 3.12.07 Supplement to 2007 annual report for Tier 3 investors (PDF) Supplement to 2007 annual report for Tier 3 investors (PDF) 3.12.07 This new Budget Calculator will help you manage your money This new Budget Calculator will help you manage your money. 22.8.07 Special notice - temporary suspension of some services We are currently upgrading our administration system to accommodate the Government's 1 July 2007 legislative and tax changes. Please note that we will be suspending some of our services as we complete this upgrade. Benefit quotes and benefit payment requests Processing of requests received between 1 July and 23 July 2007 will be suspended. Processing will resume on 24 July with the Better Super tax laws applying to all benefit quotes and payments. Requests received by 27 June will be processed using current tax laws provided the information supplied is complete and correct. During the suspension period, we will be able to provide benefit quotations as at 30 June 2007 (please call us on 1300 880 588 or email us to request a quotation). Investment switch requests Processing of requests received between 27 June and 23 July 2007 will be suspended and will resume on 24 July. Requests received before 27 June will be processed as normal provided the information supplied is complete and correct. Contributions and rollovers Processing of contributions and rollovers received between 29 June and 23 July 2007 will be suspended and will resume on 24 July. During the suspension period, investment earnings on these contributions/rollovers will continue to move with changes in the underlying unit price for your chosen investment option(s). Contributions and rollovers received before 29 June will be processed as normal provided the information supplied is complete and correct. Online services You can continue to use our online service to update personal details such as your contact details and beneficiaries. Online services that relate to your account (eg transaction history, benefit quotes, investments) will be unavailable between 1 July and 23 July and will resume on 24 July 2007. Aon regrets any inconvenience this disruption may cause and appreciates your patience as we make these important changes. Aon Master Trust addresses under-insurance with new default insurance cover (PDF) Aon Master Trust addresses under-insurance with new default insurance cover (PDF) 25.6.07 Improvements and changes to insurance and investments Following a recent review of the Aon Master Trust’s insurance arrangements and investment menu, a number of improvements and changes are being made. A better fit – improved insurance in Corporate Super and Personal Super Discounted premiums and an age-based minimum level of insurance cover will allow eligible members to automatically have at least a minimum, but reasonable, level of cover at value-for-money rates – a big improvement for members with very little or no cover at all. The minimum is $200,000 reducing from age 42 to nil at age 65 and is for death and total and permanent disablement in Corporate Super* (from 1 July 2007) and death-only in Personal Super (applies only to existing eligible members as at 30 June 2007). Members can opt out of the minimum cover if they wish. These, and other insurance improvements and changes, are outlined in Directions for members. For more detail on premiums and the minimum cover and eligibility, see the relevant factsheet:
* If employers have a special arrangement such as an insurer other than AIG, employer-paid insurance premiums, or cover for defined benefit members, the minimum level of cover will not apply. Investments
The investment changes in Corporate Super and Personal Super are outlined in Directions for members and explained in more detail in the factsheet Investment changes and improvements. Allocated pensioners have received a separate factsheet explaining these changes. Aon Master Trust retains AIG Life (PDF) Aon Master Trust retains AIG Life (PDF) 6.6.07 Federal budget 2007 (PDF) 08.5.07 On 2 April 2007, the Government issued new regulations that affect the splitting of personal after-tax contributions. Under the new regulations, a member cannot split (with their spouse) any personal after-tax contributions made on or after 6 April 2007. Personal after-tax contributions made before 6 April 2007 are still splittable and the timing for making a split request (ie at any time in the following financial year) remains the same. The abolition of Reasonable Benefit Limits from 1 July 2007, combined with the removal of tax on superannuation benefits taken over age 60, could make contribution splitting less attractive. Concessional (employer, salary sacrifice and personal deductible) contributions will continue to be splittable, but from 1 July 2007, the maximum amount of concessional contributions that can be split is the lesser of:
Simplified Super reforms passed by the Senate The Simplified Superannuation reforms proposed in the May 2006 Federal Budget and subsequent refinements to the proposals have been passed by the Senate. This means there will be a number of changes in super from 1 July 2007. Some of these reforms may affect how individuals plan for their financial future. If you're thinking about your super, it's more important than ever to talk to a licensed financial adviser about how the changes might affect you. If you don't already have a financial adviser, but would like to be put in touch with one, call us on 1800 880 588. Aon Master Trust scores 5-star rating again (PDF) Aon Master Trust scores 5-star rating again(PDF) 12.2.07 Aon Master Trust goes platinum (PDF) Aon Master Trust goes platinum (PDF) 21.12.06 Member fee – a modest increase The trustee is committed to keeping member fees as low as possible. However, as noted in Directions, higher compliance and administrative costs in the Aon Master Trust have resulted in a modest $1.00 per month increase in the standard member fee – from $48 per annum to $60 per annum. This is the first fee increase in more than five years and will be effective:
Non-standard member fees that have been negotiated with individual employers will not be increased before the employer’s current agreement with the Trust expires. Members of these funds would be notified separately of any changes to fees. Annual statements mailed and online guide launched Annual benefit statements mailed New-style annual benefit statements have been mailed week ending 20 October 2006 to members’ nominated addresses. A copy of each member’s printed statement (PDF) is also available online (password required). Members of funds with arrangements that require variations to statements, for example the inclusion of defined benefits, will have statements issued in November. If you have any questions regarding statements, please call us on 1300 880 588 or email us. Online guide The statements comply with new legislation and contain significantly more information than previous statements. To help members understand the statements we have launched an online guide. In addition to the statement, members will have received a special edition of Directions that also explains the new features in the statement. Online transactional statements For the latest details of all account transactions, including contributions and fees, and estimated benefits, members can produce reports for as many periods as they require by logging in and going to Your Account/Transaction History. If members have forgotten their Username and Password, or they’d prefer us to mail the information to them, they can call us on 1300 880 588. Investment performance is also available online
for the year
ended 30 June 2006 and for the most
recent period. 2006/07 Federal Budget: an update (PDF) 2006/07 Federal Budget: an update (PDF) 5.10.06 Aon Master Trust appoints two independent directors (PDF) Aon Master Trust appoints two independent directors (PDF) 27.9.06 Transaction reports and 2006 benefit statements Transaction reports Up-to-date details of all account transactions, including contributions and fees, as well as estimated benefits are now available through our online service. Members can produce reports for as many periods as they require by logging in and going to Your Account/Transaction History. If members have forgotten their Username and Password, or they’d prefer us to mail the information to them, they can call us on 1300 880 588. Investment performance is also available online for the year ended 30 June 2006 and for the most recent period. 2006 benefit statements Printed annual benefit statements as at 30 June 2006 are in the process of being produced and will be mailed to members’ nominated addresses in October. The statements will contain significantly more information to comply with new regulations and reflect current industry standards. You will also receive a special edition of Directions that explains the new features in your statement. A copy (PDF) of your printed statement will also be available to you online. Those funds with arrangements that require variations to statements, for example the inclusion of defined benefits, will have their statements issued in November. If you have any questions regarding statements, please call us on 1300 880 588 or email us. Aon Master Trust scores 5-star rating Aon Master Trust scores 5-star rating 16.6.06 New contribution splitting rules could mean big tax savings The Federal Government has passed legislation that allows superannuation fund members to split both personal and employer contributions with their spouses. Contribution splitting gives couples access to two tax-free thresholds and two reasonable benefit limits (RBLs), which could significantly reduce the tax payable on lump sum or pension payments. The new rules will also help couples where the spouse has little or no accumulated superannuation benefits. The new rules in brief
The Australian Taxation Office website (www.ato.gov.au) has more information on contribution splitting, including fact sheets. We are still reviewing our procedures for contribution splitting and we will advise all members as soon as procedures are finalised. my ebenefits, Aon’s new member benefits program, offers a range of lifestyle services to members of the Aon Master Trust. Available online, by phone and email, the program can help you finance a home purchase, buy that big-screen plasma at a fantastic price, send a small thank you gift or arrange the perfect holiday without getting the travel agent blues. And what if you need legal advice? Or maybe your tax return has you stumped. my ebenefits is on hand for free advice over the phone or by email. my ebenefitsis available at no cost to members of the Aon Master Trust. <click here> to log on and learn more about this exciting new initiative. Federal Budget 2006 (PDF) 10.5.06
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