How will the new legislation affect me?
The Federal Government introduced legislative changes to superannuation, in an attempt to proactively reunite inactive accounts with a member’s active account.
If you haven’t made a contribution to your First Super account for 16 months and have a balance below $6,000, then we may need to transfer it to the Australian Taxation Office (ATO). This won’t affect members who have changed their investment option and/or insurance cover (e.g. increase cover amount) and made a binding nomination.