1. Who and what is SuperTrace?
  2. Why was my superannuation benefit transferred to SuperTrace?
  3. What is a lost member?
  4. I didn't authorise my benefit to be transferred to SuperTrace. How can this happen?
  5. What fees and charges does SuperTrace deduct from my benefit?
  6. How do I take my benefit out of SuperTrace?
  7. Do I need to supply proof of my identity when taking my benefit in cash?
  8. Do I need to supply proof of my identity when rolling over my benefit to another superannuation fund?
  9. Are my funds invested whilst they're held in SuperTrace?
  10. What are the rates of return for the fund?
  11. Can I or my employer contribute to my SuperTrace account?
  12. Can I roll or transfer other superannuation benefits into SuperTrace?
  13. Why can't I take my benefit in cash?
  14. What is my preservation age?
  15. I'm a temporary resident. When can I take my super in cash?
  16. I'm former temporary resident. How can I withdraw my benefit?
  17. I am former temporary resident. What happens if I don't claim my SuperTrace benefit?
  18. I am former temporary resident and my benefit has been transferred to the ATO. How do I access it?
  19. How can I find lost super?
  20. I think I've lost super but I can't find it anywhere. What do I do next?
  21. Does SuperTrace offer insurance cover?
  22. What is the contact number if I want to send a Third Party Authority?
  23. What is SuperTrace's superannuation product identification number (SPIN)?

1. Who and what is SuperTrace?

SuperTrace is an eligible rollover fund (ERF) and is primarily designed to accept benefits from complying superannuation funds, approved deposit funds and retirement savings accounts in certain circumstances.

The purpose of SuperTrace is to reunite members with their superannuation.

2. Why was my superannuation benefit transferred to SuperTrace?

It can happen for a number of reasons. Generally your previous superannuation fund would have transferred your benefit to SuperTrace because:

  • They lost contact with you when you changed addresses or jobs;
  • You had a small account balance;
  • You stopped making contributions;
  • Your spouse was the member and your super was divided following a marriage breakdown; or
  • Your previous fund didn't know where you wanted to transfer your benefit when you left.

3. What is a lost member?

If you change your address, your name, or your job, and you forget to let your superannuation fund know, they may lose track of you.

You then become what's known as a lost member.

An ERF, such as SuperTrace, is set up specifically to look after lost members and help reunite them with their lost superannuation.

4. I didn't authorise my benefit to be transferred to SuperTrace. How can this happen?

Trustees of superannuation funds have broad powers under superannuation legislation. One of those powers is being able to transfer a member's benefit to an eligible rollover fund without their consent.

For more information go to Why was my superannuation benefit transferred to SuperTrace?

5. What fees and charges does SuperTrace deduct from my benefit?

No administration fees are deducted directly from your superannuation account.

And no withdrawal or benefit payment fees are deducted from your account when you take your benefit or transfer it to another superannuation fund.

A single Indirect cost ratio (ICR), which is calculated as a percentage of your share of SuperTrace assets (net of tax), is deducted before the crediting rate is applied.

Tax may also be deducted where required from:

  • Benefits paid from SuperTrace; and
  • Any untaxed element transferred into SuperTrace from another complying superannuation fund.

For information on the latest management costs and taxation, refer to the SuperTrace PDS.

6. How do I take my benefit out of SuperTrace?

Simply complete our Benefit Payment Request form.

To ensure it all happens as quickly and smoothly as possible, make sure you complete all the sections and sign the form.

We may need proof of your identity before we can process your payment. You'll find more information about ID requirements on:

7. Do I need to supply proof of my identity when taking my benefit in cash?

In a word, yes. It's for your own protection.

We value your privacy and the security of your superannuation benefits. To help us protect your benefits there are times when the trustee of SuperTrace needs us to get proof of identity before paying your benefit from the fund.

In addition to any trustee requirements, on 12 December 2006, the Federal Parliament passed the Anti-Money Laundering/Counter Terrorism Finance Act (AML/CTF Act). The AML/CTF Act establishes a regulatory regime to combat money laundering and the financing of terrorism and requires that, among other things, we obtain proof of your identity before paying your benefit to you.

For a complete list of our identification requirements, refer to the Proof of identification and Who can certify my documents?. For more information on the AML/CTF Act requirements, refer to the SuperTrace PDS.

8. Do I need to supply proof of my identity when rolling over my benefit to another superannuation fund?

If the name, date of birth and address details on your completed benefit payment request form are exactly the same as our records then no further proof of identity is required.

If there's a discrepancy in any of these details, you'll need to provide further proof of your identity for the same reasons as the previous question.

For a complete list of our identification requirements, refer to the Proof of identification and Who can certify my documents?.

9. Are my funds invested whilst they're held in SuperTrace?

Yes. All assets of SuperTrace are invested in an investment policy ( the Policy') with the Colonial Mutual Life Assurance Society Limited (CMLA). The Policy is currently invested solely in the Capital Stable Fund in the CMLA No. 2L Statutory Fund.

Investment returns are credited to your account as an annual crediting rate effective 30 June.

An interim crediting rate applies if you withdraw your full benefit entitlement from SuperTrace before 30 June.

Please note, the crediting rate is not guaranteed and the rate applied may be negative. Where this occurs, the value of your benefit entitlement will be reduced.

For more information on the investment strategy and objectives of SuperTrace, and past performance of the Capital Stable Fund, refer to the SuperTrace PDS.

10. What are the rates of return for the fund?

For information on past investment returns of SuperTrace, refer to the Annual report to Members.

For information on the current interim crediting rate that would apply if you withdrew your full benefit entitlement from SuperTrace now, contact one of our Customer Service Representatives on 1300 788 750 between 8.30am and 6.00pm (Sydney time), Monday to Friday, or on +61 2 8756 5545 if calling from outside Australia

11. Can I or my employer contribute to my SuperTrace account?

No. SuperTrace doesn't accept member or employer contributions. You can, however, transfer superannuation accounts held in other complying superannuation funds to your account in SuperTrace.

12. Can I roll or transfer other superannuation benefits into SuperTrace?

Yes you can. SuperTrace accepts rollovers and transfers from other complying superannuation funds.

13. Why can't I take my benefit in cash?

Superannuation is a long term investment and the Government has placed restrictions on when you can access your benefits. This is known as preservation.

Generally preservation doesn't allow you to take your superannuation benefit as a cash payment unless you've met certain conditions listed below (these conditions will be different if you are or were a temporary resident of Australia):

  • You've reached the age of 65;
  • You've reached your preservation age and have permanently retired;
  • You've reached preservation age and elected to purchase a transition to retirement or non-commutable income stream;
  • You've reached the age of 60 and an arrangement under which you were gainfully employed has come to an end and never will again be gainfully employed either full-time or part-time (i.e. for 10 hours or more a week);
  • You've become permanently incapacitated;
  • You die;
  • We believe you satisfy the severe financial hardship criteria (after meeting a number of regulatory requirements);
  • Australian Tax Office (ATO) approves payment on specified compassionate grounds;
  • We are given a 'Release Authority' from the Australian Tax Office (ATO) relating to withdrawal of money to meet your liability for excess contributions tax;
  • Other circumstances occur which are approved by Australian Prudential Regulation Authority (APRA);
  • We are instructed to release monies to comply with a forfeiture order made under the Commonweath State if Territory proceeds of crime legislation;
  • You suffer a terminal condition; or
  • You have previously been classified as a lost member under superannuation legislation and your total benefit in SuperTrace is under $200.

Please note, if your benefit contains an unrestricted non-preserved component, under current Government legislation, this component of your benefit may be withdrawn in cash at anytime.

14. What is my preservation age?

Your preservation age depends on when you were born.

Date of birth

Preservation age

Before 1 July 1960

55

1 July 1960 to 30 June 1961

56

1 July 1961 to 30 June 1962

57

1 July 1962 to 30 June 1963

58

1 July 1963 to 30 June 1964

59

1 July 1964 or after

60

15. I'm a temporary resident. When can I take my super in cash?

If you are or were a temporary resident, from 1 April 2009 the conditions under which you may take your super in cash have changed. Now you may only take your super in cash if:

  • You were a temporary resident who has departed from Australia and your visa has expired;
  • You die;
  • You've become permanently incapacitated;
  • You've been certified as suffering from a terminal medical condition;
  • We have to pay your benefit to the ATO as unclaimed money; or
  • We are given a 'release authority' from the Australian Tax Office relating to withdrawal of money to meet your liability for excess contributions tax.

16. I'm a former temporary resident. How can I withdraw my benefit?

The cash payment of a superannuation benefit to a former temporary resident is known as a Departing Australia Superannuation Payment (DASP). You're entitled to a DASP benefit if:

  • You were a temporary resident (i.e. not an Australian or New Zealand citizen, not a permanent resident of Australia, or you didn't hold a class 405 or 410 retirement visa); and
  • You left Australia; and
  • Your visa has expired or been cancelled.

In order to submit your Departing Australia Superannuation Payment (DASP) application, click on the link below and complete the DASP application online via the DASP Online Application system.

17. I am a former temporary resident. What happens if I don't claim my SuperTrace benefit?

If you haven't requested a DASP benefit within six months of the later of your temporary resident visa expiring and your leaving Australia, we may have to pay your account balance to the ATO. If this happens you'll no longer be a SuperTrace member. Generally no interest accrues on your super benefit from the time it's paid to the ATO.

18. I am a former temporary resident and my benefit has been transferred to the ATO. How do I access it?

You may claim your benefit from the ATO by:

  • Downloading a DASP application from their website, or
  • Emailing them at DASPmail.ato.gov.au, or
  • By calling them on 13 10 20 or +61 2 6216 1111 if calling from outside Australia.

19. How can I find lost super?

To see if you have lost super with SuperTrace you can search the SuperTrace database right now if you like. Or contact one of our Customer Service Representatives on 1300 788 750 between 8.30am and 6pm (Sydney time), Monday to Friday.

If you still don't have any luck, you can search the ATO's myGov website, or contact the ATO on 13 10 20.

20. I think I've lost super but I can't find it anywhere. What do I do next?

It's worth searching again. Here are a few tips to help you on your way.

  • Moved house? Try again using any previous addresses;
  • Changed your name? Use any other names you're known by;
  • Search using variations of your name : shorten it, or use your middle name or middle initial;
  • Spell your name in different ways;
  • Not sure which super fund you previously belonged to? Ask your old employer where they paid your superannuation contributions;
  • When all else fails, contact your old super funds directly. You never know, they may still have your super benefits.

21. Does SuperTrace offer insurance cover?

No. SuperTrace doesn't offer insurance benefits. Nor will any insurance benefits from your previous super fund be transferred over to SuperTrace.

For any information about what's happened to any insurance benefits, contact your previous super fund.

22. Third Party Authority contact details

If you need to send a third party authority to SuperTrace, please fax it to 1300 852 063.

23.What is SuperTrace's superannuation product identification number (SPIN)?

The SPIN for SuperTrace is LGL0515AU.

 




Feel free to contact us by:

  • 1300 788 750 between 8.30am and 6pm (Sydney time), Mon to Fri, or on +61 2 8756 5545 from outside Australia.
  • 1300 700 353
  • SuperTrace, Locked Bag 5429, Parramatta NSW 2124.

To see if you have lost super with SuperTrace you can search the SuperTrace database right now. Or contact one of our Customer Service Representatives on 1300 788 750 between 8.30am and 6pm (Sydney time), Monday to Friday.

If you still don't have any luck, you can search the ATO's myGov website, or contact the ATO on 13 10 20.

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Colonial Mutual Superannuation Pty Ltd ABN 56 006 831 983 AFSL 235025 (the Trustee, we, us, our) is the Trustee of the SuperTrace Eligible Rollover Fund ABN 73 703 878 235 ('SuperTrace') which is administered by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035. You can download a copy of the Product Disclosure Statement (PDS) for SuperTrace or request a copy by calling 1300 788 750. You should consider the PDS before making a decision about SuperTrace.

Colonial Mutual Superannuation Pty Ltd and The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 ('CMLA') are both wholly owned subsidiaries of Commonwealth Bank of Australia ABN 48 123 123 124. Commonwealth Bank of Australia and its subsidiaries do not guarantee, or in any way stand behind, the performance of SuperTrace, or the repayment of capital or interest by SuperTrace. Investments in SuperTrace are not deposits or other liabilities of Commonwealth Bank of Australia or its subsidiaries (other than CMLA or the Trustee), and investment-type products are subject to investment risk including delays in repayment and loss of income and principal invested.

This is general information and does not take into account your individual objectives, financial situation or needs. You should assess whether this information is appropriate for you and consider talking to a financial adviser before making an investment decision. View Commonwealth and Colonial Products Financial Services Guide (PDF 51kb).

SuperTrace ABN 73 703 878 235