Other important stuff.
Deduction of tax from contributions.
Contributions Tax is deducted from your contributions, put into an account and forwarded to the ATO once a month. The Trustee has determined to use the interest accrued on this account to pay certain extraordinary fund expenses. These expenses relate to the cost of upgrading the administration systems to ensure they comply with the legislative changes. In the future, the Trustee may determine to use any remaining interest on this account to reimburse certain expenses properly incurred by the Trustee in the administration and management of the Fund.
Your Trustee
The Trustee is Trust Company Superannuation Services Limited (ABN 49 006 421 638,AFSL No 235153, RSE L0000635), who is also responsible for issuing your Annual Report.
It’s their job to keep Virgin Super running smoothly and working best for you including making sense of all the legal and tax jargon, so Virgin Super remains compliant under super and other relevant laws.
Trustee insurance
Just in case any claims are made against the Fund while they’re in charge, the Trustee has taken out professional indemnity insurance. This protects the directors and the Fund from any liabilities that might arise subject to the terms of the insurance policy. Like most insurance, not all claims are covered.
Don’t move home without us
Sometimes – and we really don’t like doing this – we have to move a member’s super money into another super fund called an Eligible Rollover Fund (ERF). Our nominated ERF is Super Eligible Rollover Fund.
This can happen if we lose touch with you (see below) or your account balance falls below $1,000. If it’s the latter, we’ll try to contact you first to see if you’d like to top up your account and stay with Virgin Super.
A few things happen if your super is transferred to an ERF:
- you stop being a member of Virgin Super with its range of options;
- you’ll need to talk directly with the ERF about your super;
- the investments and fees are different to Virgin Super; and
- any insurance cover you have with Virgin Super will stop.
The Administrator
What’s a lost member?
You’re classed as a lost member if we:
- receive one piece of unclaimed mail returned from your address; or
- have no details of your current address; or
- haven’t received any contributions or rollovers for you in five years.
It’s real easy to become a lost member, but just as easy not to. So if you’re moving house, let our super friendly Customer Care Team know on 1300 652 770.
Not up to scratch?
The Virgin Super team is totally dedicated to providing the best service it can to you. So if you’re not happy with our service, write to us at:
We’ll try and resolve your issue in a couple of weeks. But if it’s complicated, we may need up to 90 days to get things sorted.
After this time, if you’re still not happy with how we’ve handled things, you can contact the Superannuation Complaints Tribunal (SCT). The SCT is an independent body set up by the Federal Government to help members resolve their complaints.
You can contact the SCT at:
Need more info?
For information about investments, insurance and contribution options available to you, refer to the Virgin Super Product Disclosure Statement, contact our Customer Care Team on 1300 652 770 or write to us at Virgin Super, Locked Bag 8, Haymarket NSW 1236.