Key documents
Take the time to read the important documents below including the Virgin Money Super Product Disclosure Statement, product guide and insurance guide to understand all the details of the product.
Important documents
Document name | Description |
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Product Disclosure Statement | This is a summary of Virgin Money Super's important information that you should read in conjunction with the Virgin Money Super product guide before making a decision about investing your retirement savings with us. |
Product guide | A very, very, very important document for you to read when considering Virgin Money Super as the place to invest your retirement savings. It's where we keep all the little details, including insurance information and should be read in conjunction with the Virgin Money Super Product Disclosure Statement. |
Insurance guide | Being protected is important, that’s why with Virgin Money Super, and we offer a range of insurance benefits. Please carefully read our insurance guide for full details. |
Financial services guide | Another important document which we are required to give you. This FSG is intended to help you understand who we are, how we work, our relationship with the administrator, Mercer outsourcing (Australia) Pty Ltd and the services we will provide you. |
Fact sheet - Proof of Identity | This guide will help you get the right documents to provide proof of your identity. |
Fact sheet - accessing your super | Super is for your retirement, and there are restrictions around when and how you can access your super. The "Accessing your Super" fact sheet outlines how and when you can access your Virgin Money Super. |
Fact sheet - beneficiaries | If you don't make a binding death benefit nomination (or if it's invalid or has expired when you die), the trustee of Virgin Money Super can decide to pay your super to any of your dependants and/or your estate in any proportion. That's why we would like you to tell us who you would like to receive your payout. The "Beneficiaries" fact sheet outlines how to nominate your beneficiary. |
Fact sheet - contributions | The "contributions" fact sheet outlines the different types of contributions, when you can make them, the tax associated with them and any limits which may apply. |
Fact sheet - government contributions | Co-contributions are a government initiative to help people save for their future. The "government contributions" fact sheet outlines the details and benefits you may be eligible for. |
Fact sheet - tax on super payouts | The "tax on super payouts" fact sheet outlines any tax implications that may occur at the time a payout is made from your superannuation fund. It is important you read this and understand how you may be impacted. |
Fact sheet – Splitting super contributions | The splitting super contributions fact sheet outlines the information and rules relating to splitting super contributions with your spouse. |
Fact sheet – Insurance in super | This fact sheet relates to Virgin Money Super’s Automatic Insurance Cover. |
Reports
Document name | Description |
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Annual report 2020 | With 2019/2020 turning out to be an unexpected, ever-changing year, the focus remained on delivering the best outcomes for Virgin Money Super customers. Promisingly, customers continued to see investment returns above both industry and retail averages throughout the year. The 2020 Virgin Money Super Annual Report provides you with an overview of the past years performance. This document needs to be read in conjunction with Part One – your Mercer Super Trust 2020 Annual Report, and Part Two – the Investment Options Details booklet. |
Historical annual reports | 2019 Annual report 2018 Annual report 2017 Annual Report 2016 Annual Report 2015 Annual Report 2014 Annual Report 2013 Annual Report 2012 Annual Report 2011 Annual Report 2010 Annual Report |
MySuper Product Dashboard | Information about the return, risk, and investment mix of the Virgin Money Super options. |
Important information
Document name | Description |
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Virgin Money Super – Investment Option and Fee Updates Notice | Notice date: 23 February 2021 Nature of event or change: As part of a regular review of our superannuation products and services, we have identified opportunities to improve retirement outcomes for our customers. 1. Changes to Lifestage Tracker investment option and Choice investment options - effective 1 April 2021 We have refined the objectives, investment details and asset allocations. Changes to LifeStage Tracker glidepath from 1 April 2021. On the current glidepath, as customers reach age 47, their exposure to growth assets decrease as they age. Following this year’s product review, we’ve decided to move this out to age 52. The changes are being made to allow for the fact people are living and working longer, so there is a need for their retirement products to reflect the evolving landscape. We believe this active approach to investing will lead to stronger retirement outcomes. You can find details of changes to your asset allocation in the Investment Details document. 2. Changes to Investment details As part of the review process we refine the objectives of each investment option to ensure they align with current market conditions and provide the best possible outcomes for our customers. Asset allocation ranges and targets for Virgin Money Super – the Life Stage Tracker paths and the Enhanced Indexed Options will be changing as of 1 April 2021. You can find details of changes to your asset allocation in the Investment Details document. 3. Fee Changes to Indirect Cost Ratio (ICR) Managing your super involves some indirect costs incurred by the underlying investment vehicles which Virgin Money Super invests in. These include some investment management and performance related fees, underlying investment vehicle expense allowances, net explicit transactional and operational costs and over-the-counter derivative costs. The Indirect Cost Ratio (ICR) for each investment option for the year ended 30 June 2020 are set out on page 19 of the 2020 Annual Report. Changes to ICRs Managing your super involves some indirect costs, such as investment management fees and operational costs. There have been some changes to how the ICRs are calculated. Effective from 1 July 2020, investment fees for direct property and infrastructure managers will now be included in the ICR, while property operating costs will no longer be included. Based on these changes, we expect the ICR for each option to remain largely unchanged. 4. Eligible Rollover Fund closure The government has announced that all Eligible Rollover Funds will close to new transfers from 1 May 2021. Under the proposed rules, super funds will be able to voluntarily transfer amounts to the Australian Tax Office (ATO). Virgin Money Super customer’s super that would previously have been transferred to SuperTrace Eligible Rollover Fund will remain in Virgin Money Super until it can be transferred to the ATO. Any insurance cover you have in Virgin Money Super will cease when your super is transferred. These changes have not yet been legislated, however when it does pass Virgin Money Super will move to implement the new rules as stated above. If you are a customer with Virgin Money Super and have questions regarding how these changes might affect your super please call the Customer Care Team on 1300 652 770. |
Virgin Money Super - Insurance Premium Reduction and Investment Option Updates Notice | Notice date: 12 November 2019 Nature of event or change: 1. Reduction to your insurance premiums – effective 1 December 2019 We regularly complete a comprehensive review of the insurance arrangements offered through Virgin Money Super. Following the review of the insurance policies and premiums, OnePath Life Limited ABN 33 009 657 176 AFSL 238341 (OnePath) has been re-appointed as the insurer for Death, Total & Permanent Disablement (TPD) and Income Protection (IP) cover for another three years. Effective from 1 December 2019:
Both the new and current insurance premiums can be found in Schedule A. 2. Changes to Lifestage Tracker investment option and Choice investment options - effective 1 January 2020 Virgin Money Super offers a range of investments, which have different investment styles or asset classes, including a LifeStage Tracker investment option and a range of Choice investment options. The LifeStage Tracker investment option is an age path option based on the year of your birth. Each LifeStage Tracker age path aims to outperform the Consumer Price Index (CPI) by a certain percentage each year, for a certain time period. Looking ahead, we believe economic growth will continue to be slow with investment returns generally expected to be lower than in recent years, particularly with respect to defensive investments such as fixed interest investments, which are sensitive to the low interest rate environment. For this reason, to enhance the probability of the investment options meeting their investment objectives, effective from 1 January 2020 we will be:
You find details of changes to your asset allocation under the ‘Asset Allocation Table’ in Schedule B. Full details of both of these changes are included in the Notice. If you are a customer with Virgin Money Super and have questions regarding how these changes might affect your super please call the Customer Care Team on 1300 652 770. |
Virgin Money Super - Protecting Your Super Package Significant Event Notice | Notice date: May 2019 Nature of event or change: Protecting Your Super Package Significant Event Notice Impact of the change:
If you are a customer with Virgin Money Super and have questions regarding how these changes might affect your super please call the Customer Care Team on 1300 652 770. |
Helpful information
Document name | Description |
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Fee definitions | Official SIS Act definitions for each fee type. |
Trust Deed | These are the documents that govern Virgin Money Super. The trust deed is a legal document that sets out the rules for establishing and operating Virgin Money Super. It includes things such as:
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Trustee policies and remuneration | These are important documents about the trustee including conflicts of interest policy, trustee remuneration and other important documents. The documents the way in which the trustee is remunerated by Virgin Money Super to ensure full disclosure for our customers. |
Information for employers
Document Name | Description |
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Guide to SuperStream | SuperStream is the name of the new government standard for the creation and submission of superannuation contributions data and payments between employers and super funds |
Virgin Money's Super Engagement Program
Document Name | Description |
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Virgin Money's Super Engagement Program Terms and Conditions | For details of the terms and conditions for Virgin Money's Super Engagement Program |
Virgin Money Super Baby Break
Document Name | Description |
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Baby Break Form | Planning to go on maternity/paternity leave? Apply for your Baby Break benefit using this form. |
Virgin Money Super Baby Break – Terms and Conditions | The offer: Virgin Money Super will discount the asset based administration fee from 0.394% to 0.044% for Virgin Money Super members who are on maternity or paternity leave, for up to 12 months per child. No more than one application per child will be approved. |