Your Qantas Super
Qantas Super was established in 1939 to look after staff and their families through their time at Qantas and beyond. We’ve been delivering on this commitment for 80 years.
Qantas Super was designed to be right by your side, wherever life takes you.
To help you take your next step, there are a couple of important changes to your account after you leave employment at the Qantas Group.
If you were in a defined benefit or accumulation division of Qantas Super, the biggest change you’ll see is that your account has been transferred to our Gateway division. If you were already a member of Gateway, there are still a few things you need to take note of.
Here’s your guide to how Gateway works for past employees:
The way your super is invested may differ depending on which division you belonged to before leaving employment.
If you’re an existing member of Gateway, your investment options will stay the same when you leave your role at the Qantas Group. Meanwhile…
You can also change your investment options at any time. You can choose which options apply to your current account balance, and which options apply to your future contributions.
If you were previously a member of Gateway, you will continue to pay fees and any insurance premiums applicable to your membership.
If you have moved to Gateway from another division where your employer previously paid part or all of your fees and insurance premiums, this will stop. Fees and any insurance premiums applicable to your membership in Gateway will now apply and be deducted from your account.
As a not-for-profit super fund that exists entirely for the benefit of members, these fees go straight back into providing great products and services to you. In fact, we’ve been rated as a ‘good value for money’ fund by independent agency, SuperRatings*.
As a former employee of the Qantas Group, you can contribute to your Qantas Super account at any time in two ways. You can:
You can find your BPAY details by logging in.
*For the years 2013-2021. The rating is issued by SuperRatings Pty Ltd ABN 95 100 192 283 AFSL 311880 (SuperRatings). Ratings are general advice only and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and SuperRatings assumes no obligation to update. SuperRatings uses objective criteria and receives a fee for publishing awards. Visit superratings.com.au for ratings information and to access the full report. © 2020 SuperRatings. All rights reserved.
The people you’ve nominated as your beneficiaries will stay the same after you leave employment at the Qantas Group.
However, it may be worthwhile reviewing your nominations to ensure they still reflect your wishes and circumstances.
You can review your nominations online.
Watch this short video to learn more about the different types of beneficiaries:
If you had Basic or Standard Cover through Qantas Super while employed at the Qantas Group, your cover will change when you leave employment. The changes will depend on whether you were an existing member of Gateway, or whether your account was transferred from another division.
Regardless of the division you were in before leaving employment at the Qantas Group, any Standard/Basic or Voluntary Cover for death and TPD you have through Qantas Super will cease 16 months from the date of the last contribution or rollover to your account in Gateway, unless you opt-in to keep your cover. If your cover is cancelled, you may be able to have it automatically re-instated within 60 days of its cancellation; you can learn more about how re-instating your cover works here.
Alternatively, you can change or cancel your cover at any time by filling out this form.
Any insurance cover you have through Qantas Super will stop on the day you leave the fund. However, you may be eligible to apply to continue your cover via a continuation option.
If you’re under 60 and left employment with the Qantas Group for reasons other than disablement, you may be eligible to apply for the same level of Basic Cover for death and TPD that you had in Gateway via a personal insurance policy with our insurer, MetLife, without providing further medical evidence. You can also apply for the same level of income protection and Voluntary Cover for death. To learn more or apply, call MetLife on 1300 555 625 or email them at [email protected].
Please note that if you choose to apply for a continuation option, the corresponding cover you have through Qantas Super will end from the date you effect the continuation option. You can find more information in the Gateway PDS.
Under superannuation law, your super is invested for you until you reach your preservation age or satisfy a condition of release, like retiring from the workforce. The ways you can access your super depend on whether you’ve reached your preservation age.
If you’ve reached your preservation age and want to start tapping into your super, a Qantas Super Income Account can help. There are two types to choose from, depending on what you want to do next. If you’re eligible, you could open an income account as either a:
You can request that your super benefit, or part of it, be paid to you in cash. You can also request that all or part of your benefit be paid to another complying super fund. Simply complete a withdrawal form.
You may still be able to access your super before then if you meet certain conditions.
There are a number of government measure in place aimed at protecting your super balance from being eroded by fees.
If your balance falls below $6,000 and you haven’t contributed to the account for 16 months, you may be considered an ‘inactive low balance member’. In this case your account is closed and your funds transferred to the ATO. For more information about when your account is considered inactive, read the Gateway PDS Member Guide Supplement.
We may also close your account and transfer your funds to the ATO if your balance falls below $6,000 at any time. This applies in addition to, and is considered separately from, the steps we may take for inactive low balance members. This requirement will generally be tested no sooner than 45 days after your become a former employee in Gateway. If your account balance is below $6,000 at that time:
We may also automatically transfer your benefit as outlined above if your account balance falls below $6,000 at any subsequent time.
Once your benefit is transferred to the ATO, you stop being a member of Qantas Super and no longer have any rights in Qantas Super. You’ll need to contact the ATO directly about your benefit. If you don’t want your super to be transferred to the ATO, you may provide alternative instructions for payment of your super by completing the relevant withdrawal form or calling us on 1300 362 967.
If you want to learn more or need help with making a decision about your super, you can get simple advice over the phone or face to face. It’s included as a part of your membership so there’s no extra cost.