SUPER TRANSITION
Optimal super outcomes do not happen by accident, there are steps to take and informed decisions you must make.
Avaya Australia is undertaking an improvement in how they manage super as a remuneration benefit and have used their bargaining power to negotiate an improved super solution for employees with Colonial First State, which is cheaper in costs and superior in functionality.
Avaya Australia encourages you to make an informed choice and has engaged AXIS Financial Group to offer service and advice to help every employee effectively manage their super benefit consistent with good wealth management practices.
SuperWiser is the online portal that AXIS uses to deliver this service.
All super product providers want your super, and each provider has a preferred methodology for marketing their brand. As your super may well become your most significant asset in retirement, it is essential to regularly review your existing super strategy against others in the market to ensure you do not miss opportunities to do better and create more wealth for yourself.
COMMON MISTAKES
The most common super mistake is for individuals to remain unconscious of the various super optimisation strategies that are available to them.
To successfully manage super, you must understand how it works and make informed strategic decisions.
Rich people do not become wealthy by remaining unconscious. They consciously decide to manage their assets through various wealth creation strategies, with super being one of them. While most people may not fall into the rich demographic, it does not mean they should not engage with strategies to create more wealth for themselves, be it saving some money, buying a house, or effectively managing super.
Younger people mistakenly ignore their super and miss many opportunities to manage it effectively as a wealth creation asset. While older people might not realise how exposed their super is to growth assets and what might happen in investment markets a year or two before they retire. Older people also tend to miss the opportunity to save on taxes and top up their super balance by using a Transition to Retirement strategy once they reach age 60.
OPTION TO TRANSITION
- Choose to have your future contributions paid into the new Avaya Australia super plan with Colonial First State and transfer your super balance with your existing super provider.
- Complete the Standard Choice form and return it to Payroll.
- Once you receive your new account number from Colonial First State, complete the Rollover form.
- Email your completed Rollover form to yoursuper@superwiser.com.au or via post to:
AXIS Financial Group
PO Box 7259
Cloisters Square
Perth, WA 6000
IMPORTANT TO NOTE
- Transfer of your super balance with your existing provider will not occur until Colonial First State advises your new account number, which will happen on receipt of your first contribution.
- Your insurance with your existing super provider will remain in force until the transfer of your super balance to Colonial First State, at which point it will cease.
- Access to limited advice at an affordable price to further optimise your super asset will become available once the transfer of your super balance from your existing provider to Colonial First State is complete. You will receive more information about this at the appropriate time.
- If you want more information about the new super solution with Colonial First State or have questions, contact AXIS on 1800 467 467 or email yoursuper@superwiser.com.au
OPTION TO OPT OUT
- Choose to do nothing and remain with your existing super provider.
- No forms required.
- Access to limited advice at an affordable price to further optimise your super asset is available via the SuperWiser client portal.
IMPORTANT TO NOTE
- Avaya Australia encourages you to make an informed choice. If you have questions, contact AXIS on 1800 467 467 or email yoursuper@superwiser.com.au
MORE INFORMATION
Need more information?
Let us know your preferred method for further contact by completing a short survey. It will only take a minute.
Alternatively, you can email Avaya Australia at avaya.gesc.amea@mailhr.info, and they can pass on your request for more information to us.