Annual Report - (July 2009)

The 2009 Annual Report is now available on your website.

Temporary Residents - (June 2009)

If you have entered Australia on an eligible temporary resident visa generally you have six months, from the date you depart Australia, to claim your Super benefits to be paid to you as a Departing Australia Superannuation Payment from the Fund.

We may receive a notice from the ATO introducing payment of your super benefit to be made to the Tax Office. We are not required to issue you with an exit statement in this circumstance. However, on your request, we are required to provide you with the details of the payment to assist you in applying to the Tax Office for your super benefit.

New Zealand citizens are not eligible to claim their Australian Superannuation benefits prior to satisfying a condition of release. Since 1973, Australia and New Zealand have had in place a 'Tans Tasman Travel Arrangement' whereby citizens of each country can live in the other country without the need for a visa.

Watching out for Superannuation Scams - (May 2009)

The Federal Government has warned Australian workers to exercise extra care in protecting their superannuation account statements and personal details, in response to NSW Police Force information that a Sydney-based fraud syndicate is using stolen identities to steal from victims' superannuation accounts.

According to NSW Police Force Strike Force Gamut, syndicate members have allegedly stolen superannuation statements and used other counterfeit identity documents to operate self-managed superannuation funds (SMSFs). The offenders then opened bank accounts linked to the fraudulent SMSF and arrange for cash to be 'rolled over' from legitimate funds into the fraudulent accounts.

The government has recommended that Super Fund members protect their superannuation statements and account details from identity fraud by:

• shredding any personal financial information they want to dispose of.
• being cautious about what personal financial information they provide over the phone and to whom they provide it.
• making habit of checking their paper-based and online super fund statements to ensure there are no unauthorised transactions.

OAMPS Super takes the collection, storage and disclosure of your personal information very seriously. For more information on how we ensure that your personal information is held in a confidential and secure manner, please click on the following link Your Privacy.

If you have any concerns about the security of your account, please contact our Super Service Centre on 1800 812 993.

Budget Update 2009 - (May 2009)

The Federal Governemt handed down the 2009 Budget on Tuesday May 12. Although there were no major surprises, there were a couple of announcements that may affect the way people contribute to their super funds. For our summary of the budget announcements click here.

Ernst and Young have also provided us with their comprehensive Budget summary. Their full report can be viewed here.

CCF Golf Day - (April 2009)

On Monday the 27th of April, the CCF SA Branch held its annual golf day at Kooyonga Golf Club in Adelaide.

The CCF Super Fund was a proud supported of this event and Ben Portelli and Mark Hutchison captured these images of the players as they arrived on the CCF Super (16th) hole. Please click here to view images.

For more information about the CCF Super Fund, please call Mark Hutchison, Business Development Manager on 0458 015 747.

Information for people affected by natural disasters - (March 2009)

Superannuation guarantee charge statements

The deadline for superannuation guarantee charge statements for the quarter ending 31 December 2008 has been extended from 2 March 2009 to 28 May 2009.

The extension will remove the risk of employers in disaster affected areas being penalised for late lodgement.

However, the Commissioner of Taxation does not have discretion in relation to the nominal interest component of the charge which is charged to employers who have not made contributions to a fund on time.

Nominal interest is passed on to an employee's super fund to compensate the employee for late payments made on their behalf to their super fund by their employer.

More information can be found on the ATO website:  http://www.ato.gov.au/corporate/content.asp?doc=/content/00179960.htm&page=5#P27_2623

Lower Fees for all OAMPS Super Fund Members - (March 2009)

From March 1 2009 we have reduced the overall fees paid in the OAMPS Super Fund.

We have undertaken a thorough review of all areas of the fund and have been able to achieve some cost savings which we are passing on to our fund members.

What are the new Fees?

The table below illustrates an example of the total fees you would pay if your account is invested in the "Retirement Growth" investment option.

In addition to reducing the overall fees we have structured them in a simpler format. There is now a 'tiered' fee system, which means that the more money you have in your account, the lower the rate of fees.

The table below outlines the new Management Fee for the "Retirement Growth" option.

*this does not include commissions and payments made to your adviser if you have one

For example, if your account balance were $50,000, the total management fee you would pay would be 1.42% on the first $20,000 and 1.22% on the rest of your account balance plus the existing $1 per week member fee. That's $702 per year, compared to the old fee of $962.

For a full list of the new fees applicable to all investment options, please refer to the Supplementary PDS in the "Tools & Forms" section of the OAMPS Super website.

How does the tiered fee system work?

Management fees payable on your account balance in excess of the first $20,000 are calculated on a "rebate" basis. This means that a flat fee (eg 1.42% for the "Retirement Growth" option) is applied to your whole account balance, and the difference between the flat fee and the tiered amount is rebated back to your account (depending on the actual account balance).

If you have any questions, or would like to discuss any of your OAMPS Super options, please don't hesitate to call the OAMPS Super Service Centre on 1800 812 993.

Calculators - (February 2009)

Links to our new calculators:

Super Calculator

Salary Sacrifice Calculator

Insurance Calculator

Fact Sheets - (February 2009)

Link to our updated Fact Sheets:

OAMPS Super Fund Fact Sheets

CCF Super Fund Fact Sheets

Our New Look Site - (July 2008)

We've recently re-launched the OAMPS Super website. The site has a new look and now contains more information and an easy to follow navigation system to help you better understand your super.

It's one more way we're working to give you all the tools you need to get the most from your super.

If you have any questions or comments about the site, please contact us as

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We're Greener than ever - (July 2008)

At OAMPS Super, we're working towards greener protocols to minimise the impact we make on the environment. The law requires us to print and send certain documentation to our members. However, the government is changing their thoughts on this and going forwards we'll be able to send more and more electronically.

In the meantime, along with trying to minimise the amount of material that we send to our members, we ensure that when we do have to, we use only recycled paper that meets the standards of the Forest Stewardship Council.