Frequently Asked Questions

What is Member Benefit Protection?
Auswide provides protection against small account balances being eroded by administration fees. If the balance of a member's account is less than $1,000 and includes Superannuation Guarantee contributions, the administration fees deducted from their account will not exceed interest credited (+)$10.00. Administration fees do not include contribution tax or insurance premiums.

Account Based and Transition to Retirement Pensions continue to pay the full administration and member fees irrespective of their account balances.

Members who have account balances of less than $2,000 and cease employment with an Auswide employer will be transferred to Statewide Superannuation Trust Personal Division (2) and available funds will be invested in the Statewide Balanced Option.  In the event of this occurring, members will be advised and provided with a Statewide Superannuation Trust Product Disclosure Statement of the Personal Division.

How much will I need in retirement?
This is a difficult question to answer. Most experts believe that individuals will need between 60-70% of their salary in retirement. This assumes that you will have paid most, if not all your debts. Many factors influence how much you will need in retirement. These factors include:

• At what age you retire
• What you want to do in retirement
• Inflation
• Outstanding personal debts
• If you have any dependants

Auswide's website has a retirement calculator which will assist you to predict (based on a set of assumptions) what your superannuation benefit will be when you retire. It is strongly recommended you seek professional financial advice to determine your financial needs in retirement and how you plan to have enough for when you retire. Past returns are not a reflection of future performance.

How can I make contributions?
Auswide is able to accept contributions by cheque, electronic funds transfer (EFT) or direct debit. To join Auswide to begin contributions, click here.