Client communications

In October 2021 we will send information to your clients migrating to provide them with important information on the December migration, including timing of changes, new features and other migration details.

Clients will receive:

  • a letter for each account migrating - this letter will be customised based on your clients account and contains important information on the migration
  • an 'Important Information' flyer to help them understand their new account and how it differs from their current account
  • a 'Transaction freeze' postcard which highlights the key freeze dates to support the migration.

Overview of letter

Enhanced client experience

Your client will see an improvement with how they interact with their account online including:

  • increased online security such as stronger passwords and two-factor authentication (requiring more than one form of identification to log in, eg a password AND a code sent to their email)
  • easy access to account information from most device types including PC, tablet and phone
  • improved interactive charts, reporting, communications and annual statements
  • access to straight through online beneficiary nomination forms and signature free renewal.

Their existing account details and investment(s) will remain the same, including insurance details, beneficiaries, adviser authorities and any third-party arrangements (such as a power of attorney, if applicable).

New account number and product name

Once this change takes place, we’ll write to clients again confirming their new account number and new account information.

Fee changes

Details your client's current fee and new fee, along with how fees are calculated. Your clients may be able to link their account with those of immediate family members, which may save money on administration fees.

Temporary transaction freeze

In order to process the migration, there will be a temporary halt on all transactions.

Contribution details

If your client would like their employer to make contributions, they will need to submit choice of fund form to their employer’s payroll department. This form will be included in their welcome pack.

Their welcome pack will also include new BPAY® details and unique superannuation identifier (USI) for employer payments.

Pension payments

Pension payments will continue in client's target product. There will be no impact to any social security entitlements they may have as a result of the change.

If your client’s pension is paid twice monthly they are currently paid twice-monthly on the 14th and the 28th of each month. Going forward pension payments will be paid on a fortnightly basis with payments made every second Tuesday. The first fortnightly payment will be on 7 December 2021.

Regular withdrawal plan

Currently a regular withdrawal plan occurs on the 1st day of the month (either monthly or quarterly as nominated by your client). In the target product a regular withdrawal plan will take place on the 6th day of the nominated frequency.

Automatic distribution facility

Currently an automatic distribution facility occurs on the 20th day of the month (either quarterly or half-yearly as nominated by your client). In the target product an automatic distribution facility will take place on the 25th day of the nominated frequency. Any accrued monies will be paid prior to the move.

Automatic withdrawal facility

Currently an automatic withdrawal facility occurs on the 20th day of the month (either quarterly or half-yearly as nominated by your client). In the target product, an automatic withdrawal facility will take place on the 25th day of the nominated frequency. Any accrued monies will be paid prior to the move.


Overview of flyer and postcard

Fee calculations

Details how flat dollar fees are calculated

Cash Account improvements

  • Details how cash account minimums are different.
  • Summarises how Standing Instructions works, including Deposit Instructions, Income Preferences, how the Cash Account Top up works
  • A new feature of the product is Automatic Portfolio Rebalancing

Tax payments

  • For super and pension accounts an explanation of how tax payments are made

Temporary transaction freeze

This postcard contains a timeline of transaction freeze start and end dates

 

More information

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