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Home Changes to your superannuation arrangements (Q-GWA)

We’re getting in touch regarding the recent communication you received from your employer, which advised that from 31 December 2024 they will no longer be an ‘Associated Employer’ of the Qantas Superannuation Plan (Qantas Super).

This page provides you with more information about what this means for you as a member of Qantas Super.

Why is your employer’s status changing?

As the communication from your employer explained, Qantas Super was established as a benefit for employees of companies within the Qantas Group.

The Qantas Group and Qantas Super are currently working towards a successor fund transfer (SFT) with Australian Retirement Trust (ART), which is expected to occur in the first half of 2025. Following the SFT, Qantas Super will be wound up and ART will offer a replacement corporate superannuation plan to the active employees of the Qantas Group. In this context, the Qantas Group has considered how to continue to ensure its corporate superannuation plan is a benefit for employees of companies within the Qantas Group.

As your employer is not an associated company or controlled entity of the Qantas Group, your employer will cease to be an Associated Employer of Qantas Super effective 31 December 2024.

How your super will change

The current Associated Employer status meant that you were able to remain an active member of Qantas Super in your existing Division. As the arrangement is ending, important changes must be made to your account effective 31 December 2024. Please read all of this information to ensure you understand the changes.

1. Your existing account will be closed and moved to a new account in Qantas Super’s Gateway Division as a Retained Member

Effective 31 December 2024, your account in your current division will close and your total balance will be transferred to a new account in our Gateway Division, where you will become a ‘Retained’ member. ‘Retained’ is the term for Qantas Super members who are former employees of the Qantas Group and its Associated Employers. You will be sent a letter confirming this transfer by late-January 2025.

2. Your insurance cover will change

The amount of Basic or Standard Cover you have for death and total and permanent disablement (TPD) will be transferred to your new Gateway account as Fixed-Dollar Basic Cover, and premium rates for insurance cover in Gateway will apply; you can learn more in the Gateway Division Product Disclosure Statement. The cost of this cover depends on the amount of cover you have. Any cover you have for income protection will continue from 1 January 2025 for 90 days, or up to the SFT date (whichever is sooner), and you will not pay premiums for this cover for this time. However, if you choose to have your employer pay your contributions to a new super fund, this cover will cease immediately. Qantas Super is working with ART to determine options for your IP cover after the SFT date. If you have any Voluntary Cover, this will continue.

3. Fees and costs for Gateway as a Retained Member will now apply

As a Retained member of our Gateway Division, fees and costs for Gateway will now apply. These fees and costs will be deducted from your account. For example, there is a fixed administration fee of $70 p.a., plus an asset-based administration fee of 0.23% p.a. of your account balance and estimated asset-based APRA fee of 0.01% p.a. of your account balance. The total of the fixed administration fee and the asset-based administration fee (excluding the APRA fee) is capped at $1,050 each financial year ending 30 June for each Super Account and Income Account in Gateway. You can learn more about these fees and costs in the Gateway Division Product Disclosure Statement.

4. If you remain a member of Qantas Super, your employer can make contributions to your new Gateway account

As the communication from your employer explained, they will make contributions to your new Gateway account as a Retained Member unless you advise them otherwise.

5. How your super will be invested

After the transfer to Gateway, your account will be invested as follows:

  • Your current account balance: Your current balance will be invested in the same investment options, in the same proportion, that applied to your balance on the day your previous account was closed.
  • Future contributions: If you have chosen investment options for future contributions in your previous account, this will continue to apply to your new account in Gateway. If you have not chosen investment options for your future contributions in your previous account, then all future contributions will be invested in Glidepath, the default option in Gateway.

If you want to change the investment options in which your super is invested, you can do this by logging into your account. You can learn more about the investment options available through Qantas Super here and about the investment fees and costs on our website.

The merger with ART

Unless you choose to move your Qantas Super account elsewhere following the changes to your account in December 2024, your account will be transferred to ART when Qantas Super completes the SFT process. As explained above, we expect the SFT to be complete in the first half of 2025. We will be in touch with more information about what it will mean for you as a Retained member in our Gateway Division next year.

What you need to do

Please read all of this page to ensure you understand the important changes to your superannuation account within Qantas Super. The changes to your account will be processed automatically.

Once they have been implemented, we suggest you carefully review how your new Gateway account is set up to ensure you are familiar and comfortable with your investment options, insurance arrangements, and the other aspects of your Gateway account.

Frequently Asked Questions

  • Why is my employer’s status as an Associated Employer changing?

    The Qantas Group and Qantas Super are currently in the process of implementing a successor fund transfer (SFT) with Australian Retirement Trust (ART). The SFT is expected to occur in the first half of 2025. Following the SFT and the subsequent wind-up activities, Qantas Super will no longer exist as a superannuation fund. ART will instead offer a replacement superannuation plan to current employees of the Qantas Group only.

    In that context, the Qantas Group has considered how its current and former employees, who are members of Qantas Super, will be impacted. In summary, the benefits and assets of former employees will move to our Gateway Division on 31 December 2024 and – unless they elect to go to an alternate superannuation fund – will then transition to ART’s public offer division in the first half of 2025.

    Considering that your current employer is not a subsidiary or a controlled entity of the Qantas Group, your employer will cease to be an Associated Employer of Qantas Super effective 31 December 2024 which results in the changes as described in our letter to you.

  • Do I need to open a new superannuation account?

    No, not unless you wish your employer to contribute to a different superannuation.

  • Where will I receive contributions from my employer?

    Your employer will continue to make contributions into your Qantas Super account until the SFT unless you choose to make alternative arrangements.

  • What are the fees payable as a Retained Member in Gateway?

    Your fees and costs as a Retained Member in Gateway will depend on what investment options you’re invested in and your level of insurance cover. You will pay:

    Administration fees and costs: Fixed administration fee of $70 p.a. plus estimated asset-based administration fee of 0.23% p.a. of your account balance capped at $1,050. Plus estimated asset-based APRA fee of 0.01% p.a. of your account balance. These are calculated and deducted from your account monthly in arrears or when you leave Gateway.

    Investment fees and costs: includes all fees incurred in managing our investment assets, such as investment manager fees, brokerage, and stamp duty. Rather than being charged directly to you as a member, like an Administration fee, these fees may be built into the value of an investment, or may take the form of reduced earnings that are distributed to Qantas Super from the investment, before these earnings are then distributed to you via Credited Interest Rates (CIRs). Here are the estimated per annum fees and costs applied to the amounts held in each investment option:

    • Glidepath:
      • Take-off: 0.83%
      • Altitude: 0.88%
      • Cruising: 0.83%
      • Destination: 0.81%
    • Aggressive: 0.83%
    • Growth: 0.88%
    • Balanced: 0.81%
    • Conservative: 0.72%
    • Thrifty: 0.17%
    • Cash: 0.05%

    You can learn more about fees and costs here or in the Gateway Product Disclosure Statement.

We're here to help

We know that change can be difficult, and we’re here to help you understand what it means for you. If you have any questions about this information, please give us a call on 1300 362 967 or book a one-on-one appointment with a Super Adviser.

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