Putting Members' Interests First


What is the objective of the Putting Members' Interest First (PMIF) Bill?

PMIF is designed to protect low balance superannuation accounts and superannuation savings of members under age 25 from being eroded from insurance coverage they may not want or need.

What are the changes?
Member Joined
For members that have joined EISS Super before 1 April 2020

Default Insurance will be cancelled for members that have: 

  • account balances less than $6,000 since 1 November 2019; and
  • have not opted-in on or before 31 March 2020.
For members that join EISS Super after 1 April 2020

New members with balances under $6,000 or under age 25 will not automatically receive default insurance unless they opt-in.

Once a member's balance reaches $6,000 and they are over 25 years old, if eligible, default insurance will automatically be applied to their account.


Are there any exclusions to PMIF?

Yes — PMIF does not apply to any cover you have applied for (i.e been underwritten for by an insurer).

I have received a warning letter about my default insurance being cancelled. What does this mean?

As your balance was under $6,000 at 1 November 2019, your insurance cover will be cancelled on 1 April 2020 if it remains under $6,000 unless you opt-in to keep it on or before 31 March 2020.

What can I do to ensure that my default insurance is not cancelled on 1 April 2020?

To ensure your insurance is not cancelled, it is important to notify us of your intention to keep your insurance by opting in through a postal or online election, or by keeping sufficient funds in your super account so that your account can cover insurance premiums and does not fall below $6,000.

How long does my PMIF opt-in last for?

If you elect to opt-in, the election is ongoing and also applies if your account become inactive.   

Will you contact me again if I am at risk of having my insurance cover lost in future?

We will notify you if you are at risk of losing your insurance cover so that you can advise us of what you would like to do.

How much insurance cover do I have and how much do I pay in premiums?

You can find out information regarding your insurance cover anytime by logging into your online account. Alternatively, you can find information about insurance cover on your annual statements or by contacting us directly.

Can I cancel my cover before 1 April 2020 if I don't want it?

You can cancel your cover any time. Please contact us to find out how.


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Please call us on 1300 369 901