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Branch network at your service
Going forward, the way in which any service organisation like a super fund or financial planning business will differentiate itself, is by being available to talk to people on a personal basis.
Whilst your Scheme has a dedicated Employer Helpline, making it easy to make any enquiry you have, there's another, far more personal way for you and your employees to get face-to-face with the super fund that's working with you. Bucking the trend of financial institutions closing regional branches, we now have more than half a dozen shopfront locations across the state.
Why did we make the decision to open regional offices? Quite simply, we wanted to provide a more equitable service to all Scheme members and employers state-wide.
Our local branch staff can provide you with information and answer questions that relate to:
the administration of superannuation,
Scheme queries,
the complexities of superannuation,
other products and services that are available such as voluntary insurance, home loans and the Fair Go loyalty program, and
upcoming employer and member education seminars.
So that you can familiarise yourself with your regional office team, we are including a special feature on the Lismore branch. In upcoming editions we will focus on each of the other branches.
Spotlight on the Lismore branch
Our first branch opened in Lismore in February 2002 so we could better service the needs of members in the region from Tweed Heads in the north, to those west of Moree and Narrabri and south of Port Macquarie. The team consists of Janine McClelland, Warren Moore, Peter Tootell and Leanne Cowan.
Janine McClelland - Lismore Office Manager
- Janine ensures members and employers enquiries are answered in a prompt and efficient manner. Janine comes from a background in financial services, having worked in the industry over the last 22 years. Janine has always resided in the North Coast of NSW.
Warren Moore - Financial Planner
- With 40 years experience in the superannuation and financial planning industry, Warren is a qualified financial planner and provides members with advice and strategies to maximise their retirement income.
Peter Tootell - Account Manager
- As the Account Manager, Peter visits employer sites in the Lismore region to discuss issues relating to superannuation and provides up to date information to all employers. He also helps members at retirement seminars that are conducted throughout the year. Peter has 22 years experience within Local Government and has a thorough knowledge of the benefits available to all members.
Leanne Cowan - Trainee Member Service Officer
- Leanne is currently in training as a Member Service Officer. Her role is to assist members with their enquiries in a timely manner. Leanne has lived on the North Coast of NSW for all of her life.
If you are in the Lismore region and need some local assistance, please contact the office on:
Phone: 02 6627 5802
Fax: 02 6621 3368
Or you can visit the team in person at 81-83 Molesworth Street, Lismore.
| Other branch locations are: |
| Sydney |
28 Margaret Street |
| Wollongong |
Shop 2 & 3/60 Burelli Street |
| Lismore |
81-83 Molesworth Street |
| Wagga Wagga |
2/209 Baylis Street |
| Orange |
187 Summer Street |
| Newcastle |
235 Darby Street Cooks Hill |
| The following offices are staffed one day per month* |
| Albury |
429 Swift Street |
| Goulburn |
148 Auburn Street Goulburn |
* Bookings are essential. Please call Member Services on 1300 369 901 to make an appointment.
STOP PRESS!
New appointment in the Wollongong office
Michael Harris has been appointed to the position of Office Manager in the Wollongong office after holding the Office Manager position in the Sydney branch for the last 18 months.
The Sydney Office Manager
position is yet to be replaced.
Performance Returns
Accumulation & Executive Scheme (post-tax returns)
| Period |
High Growth (%) |
Diversified (%) |
Balanced (%) |
Capital Guarded (%) |
Cash Plus (%) |
| July 2004 |
-1.35 |
-.88 |
-0.42 |
0.01 |
0.33 |
| August 2004 |
0.42 |
0.75 |
0.99 |
1.22 |
0.35 |
| September 2004 |
1.52 |
1.44 |
1.16 |
0.91 |
0.32 |
| Year to date |
0.57 |
1.30 |
1.74 |
2.15 |
1.00 |
Retirement & Defined Benefit Schemes (post-tax returns)
| Month |
return (%) |
| July 2004 |
-1.31 |
| August 2004 |
0.74 |
| September 2004 |
1.82 |
| Year to date |
1.23 |
Contact and Payroll Questionnaire
A BIG THANK YOU to all employers that took the time to respond to our recent "Contact and Payroll Questionnaire" that was emailed to Superannuation Liaison Officers (SLO's).
To those employers who have not completed the questionnaire, there is still time. It will only take you 5 to 10 minutes and will help us keep our key contacts up to date and ensure our administration service is optimised.
Click on the link below to complete the questionnaire online: http://www.eisuper.com.au/dataCapture\SLO_Survey.asp
If you have any questions, please call Peter Judge on 0417266013
Superannuation update
1. Changes to compulsory cashing rules
Recently, the Government made a number of changes to the compulsory cashing rules for retirees. These changes were effective 1 July 2004 and may affect some of your employees approaching retirement.
Compulsory cashing rules for people aged 65 to 74
Previously, legislation stated that once 65, a person had to be gainfully employed to continue their membership within a superannuation fund. Otherwise, it was a requirement by law to either cash in the lump sum or rollover the balance to a retirement income stream vehicle. Now there is an annual compulsory cashing rule test. Those within a superannuation fund may retain their benefit in the fund for the duration of the current financial year, as long as they have worked for at least 240 hours in the previous financial year.
Compulsory cashing rules for those aged 75 and over
Anyone aged 75 or over prior to 1 July 2004 may remain a member of a superannuation fund, provided they work at least 30 hours per week and are in receipt of employer contributions under a certified industrial agreement. However, for those that reach age 75 on or after 1 July 2004, their benefits must be paid out of the fund as soon as practicable.
2. Extension of SG support
Did you know that effective 8 November 2002, the First State Superannuation Act, 1992 was amended to allow for certain types of employee payments and entitlements to qualify for compulsory superannuation guarantee (SG) support?
The Premier's Department wrote to all employers on 15 November 2002 advising of this change and that this extension to include specific employee remuneration not technically eligible for SG support was made retrospective to the date of introduction of the SG regime in July 1992.
This means members of Division A are eligible to receive SG payments on the following leave payments backdated to July 1992:
Maternity leave
Adoption leave
Effective from 8 November 2002, weekly worker's compensation (subject to a statutory limit), parental leave and non-cash benefits that attract compulsory employer contributions under an award are also included as an amount that attracts an SG obligation.
If this requirement by the Premier's Department is applicable to your circumstances and you need to make any changes to your employer contributions, the Scheme can accept any such SG payments.
Retirement & Wealth Creation Seminars
The Scheme regularly holds Retirement and Wealth Creation Seminars.
The Retirement Seminars are targeted at people who are over 50 years of age and provide information on the following issues:
Building Wealth
Maximising Super Benefits
Minimising Tax
Investment Options
Decision Time
Income Streams in Retirement
Practical Case Studies
Centrelink
Age Pension & Allowances
Asset and Income Tests
Lifestyle
Nutrition
Exercise and planning for your retirement
For details of the upcoming Retirement Seminars, click on the link below: http://www.eisuper.com.au/seminars/seminarcalendar.asp
Morning tea and a light lunch are provided
The Wealth Creation seminars are targeted at people who are under 50 years of age and provide information on the following issues:
Creating an easy personal budget
How much to save
Reducing your tax payable
How to get the most out of your savings
Other important issues you need to consider
For details of the upcoming Wealth Creation Seminars, click on the link below: http://www.eisuper.com.au/seminars/seminarcalendar.asp
A light dinner is provided. Members can reserve a seat at one of these seminars by calling 1300 369 901.
Are you sending your communications to the right place?
The following is a one-stop reference guide to all the relevant contact numbers and addresses through which employers are to send communications.
Fax
All Employer faxes are to be sent to: 02 9299 9321
Contribution Return Emails
All Contribution Return e-mails are to go to Mellon at the following e-mail addresses:
For Accumulation and Executive Schemes: accumulationscheme@mellon.com.au
For Defined Benefit and Retirement Schemes: retirementscheme@mellon.com.au
All Other E-mails
employerservices@eisuper.com.au
Telephone
For all Employer inquiries, please call 1800 636 441
Writing
If you are writing to the Scheme, please address the letter as follows:
Energy Industries Superannuation Scheme
PO Box N835 Grosvenor Place,
Sydney NSW 1220
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October 2004