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…
If you were previously in a defined benefit division:
- Your defined benefit component will be calculated and combined with your accumulation accounts, and you’ll now be able to choose your investment options for your whole super benefit
- If you had already chosen options for your accumulation accounts, your whole super benefit will be invested in the same options, in the same proportions
- If you didn’t have accumulation accounts in your old division and therefore hadn’t chosen any investment options, your super will automatically be invested in Glidepath, the default option for Gateway
If you’ve moved to Gateway from an accumulation division:
- Your current balance will be invested in the same investment options, in the same proportion, that applied to your balance on the day you left your previous division
- If you had chosen investment options for your future contributions in your previous division, these will also continue to apply. If you hadn’t chosen options for your future contributions, your future contributions will be invested in Glidepath, the default option for Gateway
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.
Fees and costs
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*.
*For the years 2013-2024. 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. © 2024 SuperRatings. All rights reserved.
As a former employee of the Qantas Group, you can contribute to your Qantas Super account at any time in two ways. You can:
- Transfer or rollover money from another super account you have; or
- Make voluntary BPAY contributions
You can find your BPAY details by logging in.
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.
If you’re an existing member of Gateway:
- If you have Basic Cover for death and total and permanent disablement (TPD): this cover, along with the premiums you pay and any restrictions or exclusions continue to apply. This cover will continue as fixed dollar Basic Cover, with the fixed dollar amount of cover calculated at the date you cease employment with the Qantas Group. Moving forward, your premiums will change in line with your age
- If you have Voluntary Cover for death or TPD: this cover, along with the premiums you pay and any restrictions or exclusions continue to apply. Your premiums for Voluntary Cover are based on your occupational group rating, so it’s important to check whether your rating will change now you’ve left the Qantas Group. You can do this by calling us
- If you have Basic Cover for income protection: this will stop 90 days after the day you leave employment with the Qantas Group.
If you transfer to Gateway from another division:
- Any Standard Cover for death and TPD you have in your previous division as at the date you cease employment will be transferred to your Gateway account as Fixed Dollar Basic Cover1
- If your employer was previously paying a portion or all of your insurance premiums, this will stop and insurance premiums will now be deducted from your account balance
- If you transfer from Division 5, 6, 7 or 10 of Qantas Super, any Standard Cover you have for income protection (if applicable) will cease 90 days after the day you cease employment with the Qantas Group.
- If you transfer from Division 1, 2 or 3 of Qantas Super, any Standard Cover you have for income protection will cease on the day you cease to be a member of that division
1If you subsequently lodge a claim for a TPD benefit after you cease employment, the rules for determining and calculating your TPD benefit will be determined by the division you were in at the date of disablement.
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.
What happens to your insurance cover if you leave Qantas Super?
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.
What is 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.
How to access your super
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
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:
Transition to Retirement Member
If you’re ready to start slowing down at work, opening this type of account allows you to start accessing your super in the years leading up to retirement. This lets you top up your regular income, while you continue to make contributions and keep the rest of your super invested.
If you’re ready to start living out your retirement dreams, this type of account will allow you to receive regular payments from your super, just like a salary. They’ll be sent to your nominated bank account, and you can choose how often to receive a payment. Meanwhile, the rest of your nest egg will stay invested, working hard to help you enjoy retirement.
If you’re under preservation age
You may still be able to access your super before then if you meet certain conditions.
If you’re facing financial difficulty, you can apply to the Australian Taxation Office (ATO) to have your benefit, or part of your benefit, released on compassionate grounds. The ATO administers compassionate claims on behalf of the Australian Government, so before Qantas Super can release your super, you need to gain the ATO’s approval that the amount can be released.
Severe financial hardship is defined by government legislation and means that you’re “unable to meet reasonable and immediate family living expenses”. An immediate living expense refers to any outstanding debts and bills that are no more than three months old. Each claim is assessed by Qantas Super on an individual basis and we do not guarantee payment.
Transfer to another super fund
You can request that all or part of your benefit be paid to another complying super fund. Simply complete a withdrawal form.
What happens if your total super benefit is less than $6,000
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 will automatically transfer your benefit out of Gateway and to the ATO, who will attempt to consolidate your benefit with your active superannuation account; or
- If you hold another account in Qantas Super that is not an Income Account, your benefit may be automatically transferred to that other account. Depending on your circumstances, this may have implications on your benefits in Qantas Super (including insurance) and the fees that you pay.
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.