Your AUSCOAL Super account

Your super account is an accumulation style account. This means employer and member contributions and rollovers are deposited into your account, while any taxes, applicable insurance premiums, fees and other costs are deducted from your account.

Investment earnings, which may be positive or negative, are declared weekly and are applied to your account on a weekly basis or at any other time determined by the Trustee. The crediting rate applied to the money you have invested in each investment option is the actual earnings of that option less administration fees, Trustee costs, other management costs and taxes.

For benefit withdrawals, the latest weekly declared rate is applied for the period where a rate has not yet been declared. In the event that significant volatility in the Fund's underlying asset classes occurs, and to the extent that continued processing of partial and total withdrawals based on the current weekly crediting rate may lead to material inequity between Fund members, the use of the current weekly rate for withdrawals may be suspended. Should this occur, a new period to date crediting rate will be calculated and substituted. In the event of a delay in obtaining the relevant information to calculate either the weekly or contingency rate, the Trustee may withhold declaring a rate and suspend the payment of benefits beyond the standard processing time.

Your benefit entitlement will be the amount of money in your super account plus any insurance payable in the event of your death or if you are approved for a total and permanent disablement benefit in accordance with the Trust Deed.

For more information about fees and costs and insurance
See the Insurance and Fees & Costs sections of the website or our Product Disclosure Statement for more information about the costs that may be deducted from your account.

You can stay with AUSCOAL Super even if you leave your current employer
If you start working for a new employer, you can ask them to pay your super into your AUSCOAL Super account by joining as a Participating Employer. If they are not already a Participating Employer with AUSCOAL Super they will have to apply and be approved by the Trustee before they can start paying contributions for you.

There are restrictions on when you can withdraw your money
Superannuation savings are intended for retirement. Any part of your account that is preserved cannot be paid out in cash until you meet a condition of release. Please refer to the Product Disclosure Statement for further details.

Any amount shown on your Member Statement as unrestricted non-preserved can be withdrawn from AUSCOAL Super at any time by completing a Withdrawal Application Form.