Notice date | Effective date | Nature of the event or change | Impact of change |
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August 2025 | 1 October 2025 | Changes to the insurance premiums | Catholic Super accumulation members: premium reduction for income protection (IP) cover From 1 October 2025, the costs of IP cover will reduce by 2.8%. |
August 2025 | 1 October 2025 | Changes to the insurance policy terms | Catholic Super accumulation members: removal of two exclusions for death, TPD and IP policies From 1 October 2025, the following exclusions will no longer apply to insurance claims payments:
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August 2025 | 1 July 2025 | Investment related changes | Catholic Super accumulation and Retirement Income products
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Notice date | Effective date | Nature of the event or change | Impact of change |
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May 2024 | 1 July 2024 | Changes to the asset-based administration fee | Catholic Super accumulation: Asset-based administration fee reduction The asset-based administration fee charged on accumulation account balances will reduce to 0.19% pa from 0.22% pa. As a result, the maximum asset-based administration fee charged will reduce from $1,100 to $950 pa. |
May 2024 | 1 July 2024 | Changes to administration fees | Retirement products: Reductions to the weekly administration fee and asset-based administration fee The weekly fee will reduce to $1.00 per week from $1.95 per week. The asset-based administration fee will reduce from 0.20% to 0.19% pa. As a result, the maximum asset-based administration fee charged will reduce from $1,000 to $950 pa. |
May 2024 | 1 July 2024 | Introduction of insurance fee | Catholic Super accumulation A new insurance fee will apply to accumulation members who have insurance cover through the Fund. The fee is calculated at 4% of premiums. The cost of insurance cover from 1 July 2024 includes the premium that a member pays (which goes to the insurer) and the 4% insurance fee (which is paid to the Fund). |
May 2024 | 1 July 2024 | Changes to insurance terms and conditions | There will be some changes to insurance terms and conditions:
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May 2024 | Effective 1 July 2024 | Investment-related changes | Investment objectives The time horizon to meet the respective objectives of the Balanced, Capital Stable and Defined Benefit options will increase to 10 years. Strategic asset allocation range changes The strategic asset allocation permitted ranges were lowered for the Australian shares asset class (Growth Plus, Growth, Balanced options) and overseas shares (Growth Plus option). The standard risk measures for each investment option were recalculated. The transaction costs and performance fees were recalculated for each investment option, based on the experience of the past 12 months. |
Notice date | Effective date | Nature of the event or change | Impact of change |
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May 2023 | 1 July 2023 | Closure of MyLife MySuper (and Transport Industry Super) as a separate division | From 1 July 2023, MyLife MySuper (a separate division of Catholic Super) is closed, and all current members (including Transport Industry Super members) are transferred to Catholic Super. |
May 2023 | 1 July 2023 | Accumulation members - Changes to administration fees | The weekly administration fee is reduced from $1.80 per week to $1 per week. The asset-based administration fee is increased to 0.22% pa from 0.18% pa. A maximum asset-based administration fee of $1,100 is introduced, which means the asset-based administration fee is not charged on the portion of members’ account balance that exceeds $500,000. A 15% tax rebate on administration fees and costs will be passed directly back to members’ accounts, rather than to the Fund’s Administration Reserve. |
May 2023 | 1 July 2023 | Accumulation members - Changes to the default MySuper lifecycle strategy | The MySuper default lifecycle strategy is replaced with a single diversified MySuper option. This option is broadly diversified with 70% growth assets (such as shares, property and some alternative investments) and 30% defensive assets (including traditional and alternative fixed interest, as well as cash). |
May 2023 | 1 July 2023 | Accumulation and pension members - Changes to investment options | New investment option: A new low-cost, indexed option is added to the investment menu – Index Diversified. This option allocates money to a broad range of listed assets, with 70% of growth assets, and 30% of defensive assets. Investment option changes: A number of investment options are changing names and asset allocations.
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May 2023 | Effective 1 July 2023 | Account-based pension members – new default strategy | The pension default strategy is replaced with the Catholic Super MyPension strategy. This strategy divides members’ balance into three investment buckets: Cash, Capital Stable and Growth. The strategy is rebalanced twice a year. |
May 2023 | Effective 1 July 2023 | Account-based pension members – investment option closure | The RetirePlus and RetireStable options are closed. Any balances in RetirePlus will be transferred to Balanced; and balances in RetireStable will be transferred to Capital Stable. |
May 2023 | Effective 1 July 2023 | Accumulation members - Insurance changes | TPD definition: The TPD definition is changed to simplify and broaden the eligibility for an insured TPD benefit. With these changes, there’s a 6.7% increase of the cost of TPD cover, across all age group. More flexibility in death and TPD cover: Members will have more flexibility to tailor their insurance cover. Death and TPD cover are no longer combined, so members will be able to choose to have TPD cover that is higher than death cover. |
May 2023 | Effective 1 July 2023 | Pension members – other product changes | Pension product name changes: The MyLife MyPension brand will be decommissioned from 1 July 2023. The pension product will now be known as Catholic Super Retirement Income (previously MyLife MyPension Retirement Pension) and Catholic Super Transition to Retirement Income (previously MyLife MyPension Transition to Retirement Pension). Reversionary nominations: Members will be able to make a reversionary binding nomination from 1 July 2023; they will also be able to make a non-binding nomination through their online account. Changes to annual income payments:
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