When a super fund member has more than one account with the same fund, they’re referred to as ‘duplicate accounts’. It’s not uncommon for duplicate accounts to arise. Sometimes, it’s because the member has chosen to do this. In other cases it may arise unintentionally, for example if a member changes employer, and a new account is opened with the same fund for the same member.
You may have had (or still have) more than one Catholic Super account at the same time*. These additional account(s) are known as ‘duplicate’ accounts. Having duplicate accounts means you’ve been paying more than one set of fees (and any applicable insurance premiums) for these accounts.
*Not including scenarios where members may intentionally have more than one account, for example an accumulation account and a Retirement Income account as part of a Transition to Retirement (TTR) strategy.
We’ve identified a period of time where some members had (or still have) more than one Catholic Super account at the same time*.
We recently sent a communication to let members know about their duplicate accounts and what we’re doing to resolve the issue, including issuing a refund for any duplicate fees (and any applicable insurance premiums) paid.
As explained in the communication, following an internal review, we discovered that we did not conduct the annual search process in previous years. As a result, members weren’t notified of their duplicate account(s) as early as they should have been and they were paying additional fees (which may have included insurance premiums), in relation to these account(s).
*Not including scenarios where members may intentionally have more than one account, for example an accumulation account and a Retirement Income account as part of a Transition to Retirement (TTR) strategy.
When a super fund member has more than one account* with the same fund, they’re referred to as ‘duplicate accounts’. It’s not uncommon for duplicate accounts to arise. Sometimes, it’s because the member has chosen to do this. In other cases, it may arise due to specific circumstances for example if a member changes employer, and a new account is opened with the same fund for the same member.
*Not including scenarios where members may intentionally have more than one account, for example an accumulation account and a Retirement Income account as part of a Transition to Retirement (TTR) strategy.
This issue affects different members in different ways, depending on the individual circumstances. In some cases, you won’t need to do anything, but in other cases we may need instruction from you to consolidate your duplicate accounts. The letter we sent you outlined any action to take (if applicable) in the following situations:
Please read on for further details about the different scenarios.
Superannuation legislation sets out what needs to happen in cases where members have multiple accounts with the same super fund.
Super fund trustees are legally required to run an internal process each year to identify situations where a member has more than one account. The trustee should then either:
consolidate the accounts for these members – if they believe it’s in the member’s best interests to do so, or
contact the member directly to see what they’d like to do with their duplicate super accounts.
We’re very conscious that scammers sometimes issue letters just like this one, which may appear legitimate, but are then used in an attempt to steal personal information and money. And we appreciate any concerns you may naturally have around the legitimacy of this letter.
If you’re in any doubt, we encourage you contact us directly, on 1300 655 002 (Monday to Friday 8:30am-6:00pm AET), or email us at info@csf.com.au, and our team will be able to both reassure and assist you.
We were writing to let you know that there was a period/s during which you held more than one active account with Catholic Super. During this time, we did not notify you that you had more than one active account or review your accounts to see if we could consolidate them for you (if it was in your best interests to do so).
Due to our error, there was a period where you may have paid duplicate administration fees or insurance premiums on your accounts, when you may have been unaware that you had duplicate account(s).
We are refunding these duplicate administration fees or insurance premiums, including a loss of earnings amount to account for the investment returns you would have received had the additional fees and premiums not been taken from your duplicate account(s).
We apologise if the correspondence you received contained incorrect personal details.
If you still have an account with Catholic Super, you can update your details any time by logging in to your account online. Alternatively, you can call us on 1300 655 002.
We are contacting all members who were impacted by this issue. You will not be contacted if you were not impacted.
If you haven’t received any correspondence from us, but believe you should have, please contact us on on 1300 655 002 or email us at info@csf.com.au
By law, we’re required to consolidate member accounts on an annual basis when it’s believed to be in the member’s best interest.
We closed your additional account and consolidated your balance into one active account, as we determined it would be in your best interest to have just one active account, and therefore pay only one set of fees.
You don’t need to do anything. If eligible, the refund has been applied to the account that remains open.
If you intentionally held more than one account and you want the consolidation to be reversed, please complete and send back the form titled Keep my additional account open. This was provided when we first wrote to you about this matter.
Simply return your completed form using one of the options below:
We’ll then continue to contact you on an annual basis to ensure that you still wish to retain more than one active account.
We recognise that some members may intentionally have multiple accounts. If your additional account was closed and consolidated, but you wish for it to be reinstated, you can complete and send back the Keep my additional account open form. This was provided when we first wrote to you about this matter.
Simply return your completed form using one of the options below:
email: email your completed form to info@csf.com.au or
post: send us your completed form to:
Catholic Super
GPO Box 4303
Melbourne VIC 3001
We’ll then continue to contact you on an annual basis to ensure that you still wish to retain more than one active account.
If you’ve had a recent employer contribution:
The account that received the most recent employer contribution was selected as the account to keep open for you.
If you’ve had no employer contribution in the previous two years to either account:
The account that was created earliest was the one we selected to remain open as your active account with us.
In the first letter we sent you in March 2024, we indicated which of your accounts was closed when we consolidated your accounts.
In most cases, the account we chose to close was the account that was not receiving employer contributions (and we retained the account that was receiving employer contributions).
In cases where neither account received contributions in the previous two years, we closed the account that had been opened most recently (i.e. your oldest account with us was retained).
As part of the consolidation process, the account balance from your closed account was automatically transferred across to your retained account.
As your chosen investment option was the same for both accounts, the transferring balance retained the same investment option.
Should you wish to change your investment options on your open & active account, you can do so at any time by contacting us at 1300 655 002 (Monday to Friday 8:30am-6:00pm AET) or by logging in to your account.
Is it better to consolidate my open accounts or not?
In many cases, and for some members, it makes sense to have just one super account. Not only does it make it easier to keep track of your super and how it’s invested, but perhaps more importantly, it means you’ll pay just one set of fees for your super each year. Multiple accounts, on the other hand, usually attract multiple sets of fees – and this may eat into your retirement savings over time.
However, some members intentionally have more than one super account, and this could be for a range of reasons specific to their financial circumstances.
So, the decision to consolidate is very much dependent on your financial circumstances, including what you want to achieve from your super, and the goals you’ve set for your retirement.
We didn’t consolidate your accounts because your accounts met at least one of the following criteria:
For help deciding whether or not to consolidate your super accounts, we recommend getting some assistance from your financial adviser. If you don’t have one, you can contact our financial advice team at csf.com.au/get-advice. Please note fees may apply.
If you wish to combine your accounts
Please complete the Combine your Catholic Super accounts consent form that was provided with the letter you received (you can also find the form on our website). Return your completed form to us:
If eligible, a refund has already been applied to your active account with the most recent employer contribution or, if no employer contribution has been received in the past two years, the refund has been applied to the Catholic Super account that was opened first.
You can keep both of your accounts active
If you intentionally have more than one active account and you’d like this to continue, then no action is required. However, please be aware that you’ll continue to pay fees (and any applicable insurance premiums) on all active accounts.
We’ll continue to contact you on an annual basis to ensure you wish to retain more than one active account.
If you’ve received a letter advising your accounts haven’t been consolidated, we haven’t been able to determine if consolidating would be in your best interest.
If you’ve reviewed all the considerations and impacts of consolidating your accounts and you want to go ahead and consolidate, please complete the Combine your Catholic Super accounts consent form that was provided with the letter you received (you can also find the form on our website).
Simply return your completed form using one of the options below:
email: email your completed form to info@csf.com.au or
post: send your completed form to:
Catholic Super
GPO Box 4303
Melbourne VIC 3001
We’ll then continue to contact you on an annual basis to ensure that you still wish to retain more than one active account.
Unfortunately, we can’t accept consent to consolidate over the phone, as we need your consent in writing.
To consolidate your accounts, please complete the Combine your Catholic Super accounts consent form that was included with the letter we sent you outlining the details of your refund. Return your completed form to us:
When consolidating member accounts, we apply the following approach to beneficiary nominations (if there are any):
Your refund has been paid into a holding account that has no fees on your behalf and is ready for collection. This account has been set up solely for the purpose of allocating your refund and you will not be charged any fees on this account. The account details can be found in the letter we sent you. If we don’t receive a response from you, the money will be sent to the ATO in April 2025.
Please read the following information carefully to ensure we can issue your refund.
To access your refund
Please complete and return the Benefit payment application form that was enclosed with your letter to enable us to transfer this money to you. Return your completed form to us:
Please note if you are eligible to receive a cash withdrawal because you’ve met a condition of release*, you’ll need provide a certified copy of your ID and a bank statement along with the form.
How long will it take to receive your refund?
Once we receive your form, we’re legally required to transfer this refund to your current super account, unless you’ve met a condition of release*. This transfer will occur within 28 days of receiving your form.
If you’ve met a condition of release*, we can pay the refunded amount directly to you (instead of into a super account). In these cases, we’ll pay the refund into your bank account once you’ve provided your bank account details.
If you don’t respond to this letter
If we don’t receive a response from you, we’ll transfer this refund amount to the ATO in April 2025. You can still claim your refund, but you’ll need to contact the ATO directly.
* Not sure if you’ve met a condition of release? Please refer to the ATO website (ato.gov.au) and proceed to the ‘Conditions of release’ page to learn more.
If you choose to consolidate your accounts:
Before you proceed with consolidating your accounts and you’re not sure how your insurance will be impacted, please call us on 1300 655 002 to discuss how this will impact your insurance.
If you choose to retain all of your accounts:
If you decide not to close any of your accounts, any insurance cover you have through those accounts will remain active as per the terms and conditions applying to that cover.
Duplicate accounts can arise from time to time, for example as members change employers, but also for a range of other reasons.
As a superannuation trustee, we’re required to conduct an annual search process each year to identify situations where a member has more than one account. At that time, we should have then either:
Following an internal review, we discovered that we did not conduct the annual search process in previous years. As a result, you weren’t notified of your duplicate account(s) as early as you should have been and you were paying additional fees (which may have included insurance premiums), in relation to these account(s).
Typically, as a superannuation fund, we are legally required to run an annual search of account records to check for duplicate accounts. If we discover that you have duplicate accounts, we will then consolidate them automatically (if we believe it is in your best interest to do so) or contact you to seek further instructions as to what you’d like to do. In these cases, no refund applies.
Recently, however, we determined that we did not conduct the routine annual search process prior to 1 July 2023. The members who had duplicate accounts before this time and were therefore affected by this oversight will receive a refund for any duplicate fees they may have incurred (including compensation for lost investment earnings). Refer to ‘How do you calculate my refund?’ for more information on what is being refunded.
There was a period before 1 July 2023 during which you held more than one active account with Catholic Super. During this time, we did not consolidate these into one account, or notify you that you had more than one active account. Due to this error, you’ve paid fees (and any applicable insurance premiums) on both accounts, when you may have been unaware two active accounts existed.
The refund includes the following during the period since the duplicate account was created, up until when the duplicate account was closed:
Your refund amount will be a combination of:
After we consolidated your accounts, your Active and retained account remains active with us, so this is where we’ve paid your refund. Your refund will appear in your account as an adjustment and on your next annual statement.
We’ve sent you a communication to confirm the amount of your refund, and when it was deposited. You’ll also receive an exit statement for your closed Duplicate/consolidated account.
Your refund has been paid into the Catholic Super account where you are currently receiving employer contributions or your earliest created account (if no employer contributions have been received). Your refund will appear in your account as an adjustment and on your next annual statement.
Your refund has been paid into your Active and retained Catholic Super account. Your refund will appear in your account as an adjustment and on your next annual statement.
Your refund has been paid into a holding account that has no fees and is ready for collection. The account details can be found in the letter we sent you. If we don’t receive a response from you, the money will be sent to the ATO..
What you need to do
To claim your refund from Catholic Super, please complete the Benefit payment application form that was included with the letter we sent you outlining the details of your refund. This form can also be found on our website. Return your completed form to us:
Please note if you are eligible to receive a cash withdrawal because you’ve met a condition of release*, you’ll need provide a certified copy of your ID and a bank statement along with the form.
Once we receive your form, we’re legally required to transfer this refund to your current super account, unless you’ve met a condition of release*. This transfer will occur within 28 days of receiving your form.
If you’ve already met a condition of release*
If you’ve met a condition of release*, we can pay the refunded amount directly to you (instead of into a super account). In these cases, we’ll pay the refund into your bank account once you’ve provided your bank account details.
If you don’t respond to this letter
If we don’t receive a response from you, we’ll transfer this refund amount to the ATO in April 2025. You can still claim your refund, but you’ll need to contact the ATO directly.
* Not sure if you’ve met a condition of release? Please refer to the ATO website (ato.gov.au) and proceed to the ‘Conditions of release’ page to learn more.
We have used the following criteria to refund your account:
Ordinarily, to access your money you need to satisfy one or more of conditions (referred to as the ‘conditions of release’):
you’ve reached your preservation age and you’ve retired from the workforce
you’ve turned 65, even if you’re still working.
In specific circumstances, other conditions of release may apply. These early release conditions are set by the government and strict rules and requirements apply.
To learn more about conditions of release and whether you’ve met one, please review section 4(b) of the Benefit payment application form or go to the Conditions of Release page on the ATO website.
If your refund is being paid into an active Catholic Super account: it will be invested according to your current investment option selection(s). If you haven’t made an investment choice, it will be invested in your default option.
If you’re no longer an Catholic Super member and your refund is being paid into a ‘no fee’ holding account: the refund will be invested in our Cash investment option while we wait for your instructions.
No, your refund will not count towards your concessional cap.
Not all duplicate accounts are eligible for a refund. That’s because duplicate accounts can and do arise from time to time, for example as members change employers, and for a range of other reasons. Super funds are required by law to run an annual search to check for duplicate accounts. If you have duplicate accounts, your fund will then consolidate your accounts automatically, or contact you to seek further instructions as to what you’d like to do. This is part of an annual process, and in these cases, if you’ve been found to have duplicate accounts, no refund applies.
If you have (or had) duplicate accounts on or after 1 July 2023 – no refund applies.
This will be picked up in our annual check and you’ll be notified accordingly. No refund will apply.
If you had duplicate accounts on or before 30 June 2023 – a refund may apply.
If you held more than one account with us (at the same time), on or before 30 June 2023, you may receive a refund for any duplicate fees or premiums paid. That’s because we did not conduct the required annual check for duplicate accounts during this time. We’re providing refunds for members who were impacted by this oversight.
I haven’t received a refund for all of the Catholic Super accounts I’ve held – why not?
You may have held other accounts with Catholic Super at other times. But if these were not ‘duplicate accounts’ (accounts held at the same time and where duplicate fees or premiums were charged) in the period on or before 30 June 2023, a refund does not apply.
We always try to resolve complaints quickly, to the satisfaction of all concerned, and in the best interests of all our members.
If you wish to make a complaint regarding this matter, please contact us using any of the following avenues:
Call: 1300 655 002 (8:30am-6:00pm Monday to Friday AET)
Write to:
Complaints Officer
Equip Super
GPO Box 4303
Melbourne VIC 3001
Email: complaints@csf.com.au
Website: csf.com.au/contact-us/making-a-complaint
We will write to you or call you to let you know we have received your complaint, usually within one business day of receipt.
Our aim is to resolve all complaints as soon as possible, and if we are not able to resolve your complaint within 5 business days, we will assign a case manager to oversee the resolution of your complaint. For most complaints a final response will be sent to you within 45 days after your complaint is received.
If you are not happy with our response to your complaint, or we have not provided an outcome within 45 days, then you can contact the Australian Financial Complaints Authority (AFCA). AFCA provides free, fair, and independent financial services complaint resolution for consumers. Please note that certain time limits may apply for raising your complaint with AFCA.
You can contact AFCA:
Write to:
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Call: 1800 931 678
Email: info@afca.org.au
Website: https://www.afca.org.au/make-a-complaint
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