Protect your super
If your super balance is below $6,000 and your account has been inactive for 16 consecutive months, we are required to transfer your account balance to the ATO to hold on your behalf.
This can be an issue for members who join well before they start full time work.
Keep your account active
To ensure your super is not transferred to the ATO due to inactivity;
Or you can do one of the following:
- ●Make a personal contribution.
- ●Use the ‘Transfer my super’ feature to combine other super accounts into Engineering Super.
- ●Tell your employer to pay your super into Engineering Super.
- ●Change investment options.
- ●Complete a binding beneficiary nomination.
If you need help in keeping your account active, contact the Member Services Team at hello@engineeringsuper.com.au or call 1300 001 168.
Impact on your loyalty discount
If your balance is sent to the ATO, your account will be closed.
If you open a new account with Engineering Super and retrieve your balance from the ATO, the clock on your loyalty discount program resets back to the start.
So, if you intend to stay with the fund, and maximise your loyalty discount, it is a good idea to avoid 16 months inactivity.