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The minimum account balance you need in Gateway has increased
To protect your super from being eroded by fees, the minimum balance you need to keep your Gateway super account open has increased.
From 1 July 2021, if you’ve left employment at the Qantas Group or asked your employer to pay your super contributions to another fund, you’ll need a minimum balance of $6,000 to keep your account open.
What happens if my account balance falls below $6,000?
The action we’ll take may differ depending on how many super accounts you have with us.
When will you transfer my balance?
We’ll transfer your balance if it falls below $6,000 no sooner than 45 days after you either left employment at the Qantas Group or asked your employer to pay your super contributions to another fund. If your balance subsequently falls below $6,000 at any point after this, we may also transfer your balance to the ATO.
What do I need to do?
You don’t need to do anything. If your account balance falls below $6,000, we’ll get in touch to let you know what you can do if you would like to keep it open. For example, you may want to:
- Roll in money from another super fund; or
- Make a voluntary contribution via BPAY
Alternatively, if you have an income account with Qantas Super, you can fill out a form to combine the balance of your super account and your income account.
You can learn more in the Gateway Member Guide Supplement.
We're here to help
If you 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.