Frequently asked questions

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We’re required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.

This is to make sure we’re keeping members at the centre of our approach to the design and distribution of our financial products.

This legislation requires financial services product issuers to design products that are appropriate for the consumers in the target market and consistent with their objectives, financial situation, and needs.

A Target Market Determination is a document which describes who a product is appropriate for (target market), and any conditions around how the product can be distributed to customers. 

It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product.

It depends how your details have been changed. The most common request is changing a surname due to marriage, which you can do with a certified copy of your marriage certificate, and a Vision Super “Change of Personal Details form” found here: view form

If you have changed your name another way, we recommend you contact us first on 1300 300 820 so we can outline what documents we need to change your details without issue.

If you want to change your address, you can do this by logging onto the secure member portal online, or calling our Member Services team on 1300 300 820.

You can check your balance 24/7 via Vision Online, our secure member secure site, or via the Vision Super app for mobile devices. You can also contact our Member Services on 1300 300 820 or by emailing us on [email protected]

Here’s how it works. You may be able to receive a tax-free contribution from the Government when you make a non-concessional (after-tax) contribution to your super account.  The maximum entitlement that can be received is $500 where your total income is $41,112 or less in the 2021/22 year. This reduces on a sliding scale and cuts out if your total income is above $56,112 in the 2021/22 year.

This is, of course, provided you satisfy work, income and age tests.

Please note that the income threshold test for the co-contribution is your total income, which is calculated as follows:

Total income (assessable income + reportable fringe benefits + reportable employer super contributions – allowable business deductions).

In very basic terms, ‘salary sacrificing’, or ‘salary packaging’ means using some of your before-tax salary to pay for something. In superannuation terms, it is usually an arrangement between you and your employer to contribute some of your before-tax salary into your superannuation account.

In the 2021/2022 financial year, the maximum that can be contributed as before-tax payments is $27,500, this includes your employer SG payments of 10%.

Please note that any after-tax contributions made, where you obtain a tax deduction, are included in this contribution limit.

If you’re contributing by BPAY, it can take Vision Super up to two business days to receive your contribution, then up to three business days to process, although most are done the same day they are received. This will depend upon your financial institution’s processing times.

If you’re contributing by cheque, you will need to allow enough time for your chosen postage method to reach us. Once it has arrived, it can take up to five working days to process.

We can also process contributions by EFT, however, this may take up to three business days.

Best Doctors can help you if you are dealing with an illness, or a chronic or serious condition.

Through your insurance, you and your family get access to Best Doctors which connects you with a network of 50,000 leading medical specialists from around the world. It offers a second opinion when you need it most, to make sure you received the right diagnosis and are on the best treatment plan. You can use Best Doctors at anytime, anywhere, as often as you need for no extra cost, and it’s completely confidential.

Ethical investment (or responsible investment) in a super fund is when an investment is selected to complement views on moral, environmental or political matters. There are ethical super funds dedicated to these specific investment options and funds that offer normal and ethical investment options.

Our platinum rating from SuperRatings mean we’re in the top 25% of super funds rated by SuperRatings for best value for money superannuation. We’ve been awarded the rating 11 years in a row.

Vision Super members pay an administration fee to cover the administrative and operational costs of the the Fund and Trustee. For more information, please read the relevant guide for fees and costs.

Generally, any before-tax money that you pay into your superannuation fund (for example, your super guarantee payment, or salary sacrifice payments) is taxed at a maximum rate of 15%.

The earnings that your fund makes are also taxed (but not the pension untaxed products). And, when you retire and apply to draw an income from your super fund (an account based pension) this is tax-free if you are over 60 years. For more information, please refer to our additional guide on how super is taxed.

It’s important that you provide your tax file number to your super fund or you could be inadvertently paying too much tax.

By calling 1300 300 820, Vision Super members have access to one-off financial advice about their options and benefits in Vision Super, at no extra cost. This includes insurance options, investment choices, Vision Super products, and other basic information.

We also provide access to in-depth personal advice (not limited to Vision Super) by appointment, to discuss at length different topics super and non-super related depending upon your personal financial needs.  This more in-depth personal advice is provided by our employees under an arrangement with Industry Fund Services Pty Ltd (IFS) (AFSL no: 232514), referred to as Vision Super financial planners.

Advice fees apply to personal advice that is not limited to Vision Super (including advice about non-super financial products). Advice about superannuation and retirement products may be deducted directly from your Vision Super accumulation account. Set fees apply each time you are provided with advice about:

  • Personal advice relating to your super
  • Retirement strategies
  • Insurance
  • Estate planning
  • Reviews of the advice

Vision Super financial planners don’t receive commissions or bonuses for financial advice and are only paid a salary.  Their advice is always in your best interests, and you never need to worry whether they’re recommending a product because they want a commission or they’re trying to earn a bonus. For further information about advice fees, see our Fees and Costs page.

Vision Super is an industry fund, run only to benefit our members. We aim to keep our fees as low as possible so there’s more in your pocket when you retire.

Yes. If you have existing death, death and total and permanent disability (TPD), and/or Income protection (IP) cover through another superannuation fund, you can apply to transfer this cover to your Vision account.

To transfer your cover, you need to meet certain conditions – for further information, please read the applicable Vision Super insurance guide.

Remember to check your current insurance arrangements including benefits and fees (different insurance arrangements have different terms and conditions, e.g., exclusions). If you are transferring your insurance cover from another super fund, make sure your application to transfer to Vision Super is accepted before you transfer your money from or cancel the insurance cover you have in the other fund.

We’re open to everyone and you’re welcome to start an account with us no matter who you work for.

In most cases, changing jobs doesn’t mean you have to change super funds. To take Vision Super with you when you change jobs, simply complete the Choice of fund form and hand it to your new employer.

By choosing to stay with Vision Super, you can avoid ending up with multiple funds, multiple sets of fees and excess paperwork.

Compound interest is the interest that is earned on money that was previously earned as interest.

For example, if you have an investment of $100 that pays interest of 5% every year, then in the first year you will be paid interest of $5 over the year (5% of $100).

What happens in the next year? That’s where compounding comes in. You will not only earn interest on your initial $100 deposit, you will also earn interest on the $5 interest that you earned in the first year.

That means you will earn $5.25 in the second next year because your account balance is now $105, even though you didn’t make any deposits. This may not seem like much of an increase, but the effects of compounding becomes  more dramatic over long periods of time. After 30 years, your initial $100 investment would be worth $432.19, and that year you would be paid $21.61 in interest.

Each year your interest earnings will accelerate even more due to compound interest. This cycle leads to interest and account balances going up at an increasing rate, which is sometimes known as exponential growth.

Of course, if you’re borrowing money, compounding works against you. You owe interest on the money you have borrowed, and so your loan balance can then increase over time, even if you don’t borrow any more money.

Already a Vision Super member?

The great news is you can now open your pension account online through the secure site.

Not a Vision Super member?

You’ll just need to open a Vision Personal account first and then you can transfer across to a Vision Super pension.