SUPER TRANSITION

Optimal super outcomes do not happen by accident, there are steps to take and informed decisions you must make.

Coogee Chemicals 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 which is cheaper in costs and superior in functionality.

AXIS Financial Group has been engaged to facilitate the transition from AMP to Colonial First State and offer additional service and advice to help every employee better manage their super benefit.

SuperWiser is the online portal that AXIS use to deliver all of this.

AXIS & SuperWiser Logos

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 opportunities to manage it effectively as a wealth creation asset. While older people are perhaps wiser, believing your existing strategy will always have the right balance between growth and defence is a mistake. Your super needs regular attention as retirement gets closer to avoid market shocks. Additionally, once you reach age 60, strategies such as Transition to Retirement potentially help you save on taxes and top up your super balance, so it is worth investigating.

OPTION TO TRANSITION

  • Choose to transition your super balance with AMP and all future contributions to Colonial First State.

  • 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 AMP will not occur until Colonial First State advises your new account number, which will happen on receipt of your first contribution.
     
  • Your existing insurance with AMP 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 AMP to Colonial First State is complete. You will receive more information about this at the appropriate time.

  • If you have questions, contact AXIS on 1800 467 467 or email yoursuper@superwiser.com.au 

OPTION TO OPT OUT

  • Choose to opt out of transitioning over to the new employer default plan. 
     
  • Complete a Standard Choice form nominating your personal choice of product and return it to Payroll by Friday 2 February 2024.

IMPORTANT TO NOTE

  • If you do not opt-out (by submitting a Standard Choice form by Friday 2 February 2024), you will automatically be set up with a new super account with Colonial First State with all future contributions paid there.

  • Coogee Chemicals 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 Coogee Chemicals at payroll@coogee.com.au, and they can pass on your request for more information to us.