Corporate governance

April (all Divisions)

• Changes to investment options

April (Divisions 1, 2, 3, 3A, and 15)

• Changes to insurance premiums for Voluntary Cover
• Changes to applying for Voluntary Cover
• Expanding definitions of TPD for Voluntary Cover

April (Division 3AN)

• Changes to insurance premiums for Voluntary Cover
• Changes to applying for Voluntary Cover
• Change to a definition of TPD

April (Gateway)

• Changes to default insurance cover
• Removal of extra salary-linked cover
• Changes to insurance premiums
• Changes to applying for Voluntary Cover
• Change to a definition of TPD

April (Division 5, 6, 7, 10)

• Changes to insurance premiums
• Changes to applying for Voluntary Cover
• Change to a definition of TPD

August (Gateway)

• Minimum account balance increased

June (Gateway and Divisions 3A, 5, 6, 7, and 10)

• Lower administration fees and lower fee cap
• Introduction of new investment option, Thrifty

June (Divisions 1, 2, 3, and 15)

• Lower administration fees and lower fee cap
• Introduction of new investment option, Thrifty
• Qantas has temporarily reduced its contributions towards defined benefits

October (all eligible members)

• How insurance cover applies when stood down

July (all eligible members)

• Notice of new insurer, MetLife, from 1 July 2020
• Changes to insurance premiums for Standard/Basic Cover and Voluntary Cover from 1 August 2020
• Changes to income protection cover while members are on leave without pay (LWOP) from 1 August 2020

May (all members)

• Changes to asset allocation ranges for our investment options from 4 May 2020

August (Gateway super accounts and Divisions 3A, 6, 7, and 10)

• Lower fees
  • Fees capped on low-balance accounts
  • Exit fee scrapped
• Changes to insurance
  • Premiums for income protection cover reduced
  • Insurance will be cancelled for inactive accounts
  • Continuing insurance cover while on unpaid parental leave and leave of absence
• Some older members to be exempt from the ‘work test’
• Inactive low-balance accounts to be transferred to the ATO

August (Gateway income accounts and Divisions 1, 2, 3, 5, and 15)

• Lower fees
  • Fees capped on low-balance accounts
  • Exit fee scrapped
• Some older members to be exempt from the ‘work test’
• Inactive low-balance accounts to be transferred to the ATO

September-October (Divisions 6, 7 and Gateway)

• Reduction in administration fee from 1 October 2018

August-September (all members)

• Removal of term deposit option

June (all members)

• Introduction of Insurance in Superannuation Code of Practice

March (all members)

• Change to Cash investment option
• Quitting investment in tobacco