Your super will enter a new phase on the 1 July following your 55th birthday. Rest assured, you’re not alone – this is the way Division 2 was designed for former members of the Australian Airlines Flight Attendants Superannuation Scheme (AAFASS).

What's changing on 1 July

The formula calculating your defined benefit will be frozen

On 1 July you will reach the maximum calculation possible in this phase of your defined benefit. This means the formula calculating your defined benefit will be frozen.

Your defined benefit will be invested on your behalf

Qantas Super will invest your defined benefit amount, and you will begin earning returns on that amount.

These returns could be positive or negative.

Your standard insurance cover will end  

Your standard death and disability insurance as part of Division 2 was always designed to cover you up until the 1 July following your 55th birthday, and end at this date.

If you have any voluntary insurance cover in Qantas Super, this will continue until you reach 65 years of age, and insurance premiums for this cover will continue to be deducted from your account balance.

If you don’t currently have voluntary cover in Qantas Super, you can apply for death only or death and TPD cover, and it will continue to cover you until you reach age 65. If you are considering additional insurance, it’s worth noting that the cost of insurance premiums increase with age, so it’s a good idea to consider the level of cover you really need.

If you would like to discuss your insurance options, you can give us a call.

What's staying the same

You’re still in Division 2

You will remain a member of Division 2 in your new phase of super.

Qantas will continue to pay your administration fees and make contributions to your super

As a member of Division 2, Qantas has always paid your administration fees. This will continue, and can be a big saving.

Qantas will also continue to contribute to your super. Qantas will contribute at the Superannuation Guarantee rate of 9.5% of your salary, the current minimum rate set by the Federal Government.

You will continue to make compulsory contributions to your super

You will continue to make compulsory contributions to your super from your pay, to ensure the safety net built into your defined benefit – the Australian Airlines minimum benefit guarantee – will continue to apply until age 65.

If you make voluntary contributions, these will stay the same

Any additional amounts you’re putting into super will continue to be deducted from your pay.

Remember, there are limits to the amount of contributions you can make into super each financial year before you incur extra tax. Monitor the level of concessional (before tax) and non-concessional (after-tax) contributions made to your super.

Your Australian Airlines minimum benefit guarantee will continue to apply

The safety net built into your defined benefit – the Australian Airlines minimum benefit guarantee – will continue from 1 July.

You have a few options

You don’t have to do anything after 1 July.

However, you do have the option to stop making compulsory contributions to your super.

If you do so, your Qantas Super benefit and your Australian Airlines minimum guarantee will both be calculated as of the date you notify us of your decision.

You will receive the greater of the two calculations, and this amount will be transferred to your accumulation account. You will then be able to choose how you want to invest this.

How it works

Speak to a Super Adviser

If you’re thinking of changing your compulsory contributions or have any questions about this new phase of super, we recommend you speak to a Super Adviser.

Book in a 30 minute meeting with a Super Adviser to get a one on one look at your super.

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We're here to help

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.