AUSCOAL Super transitions to a new administration platform
After 18 months of planning, we successfully transitioned to a new super administration platform.
AUSCOAL Services General Manager, Steve Grant, said this project was the largest information technology project in the Fund’s 69 year history.
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Aussies still shunning co-contribution dollars
Hundreds of members may be foregoing thousands of extra retirement dollars by not taking advantage of the government co-contribution.
 The government co-contribution scheme is a government incentive that may double your personal super contributions each year. Read more to see how the co-contribution may give AUSCOAL Super member, Kaitlyn Sparks, an additional $205,000 more over her lifetime.
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Now it’s even easier to pay into your super through BPAY
Boost your super overnight when you transfer straight from your bank account to your super account using BPAY®.
 Want to get started?
Read more
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How to have your cake and eat it too!
For the next few decades, the government expects more than 75% of Australians will qualify for a part government age pension.*
While some people may think this means they can ease up on saving super, AUSCOAL Advisory Services Manager, Des Sutherland, says the more likely scenario for most Australians is funding their retirement with a combination of both age pension and super.
‘Many AUSCOAL Super members approaching retirement may not be aware of the best way to structure their savings to maximise their social security entitlements. Many of us worry we won’t have enough to live on, however, it’s possible to live comfortably if you get the right advice,’ Sutherland said.
‘Rather than expecting to get by on the government age pension, which is only $1,057 per fortnight for couples, or pay your own way with your super savings, it makes more sense to build up your super to supplement the age pension,’ he said.
‘The additional money you’ll receive from your super savings will mean a more comfortable lifestyle during your retirement. Many people may be surprised to know that home-owners can save up to $252,500 in super and other financial assets and still receive the full age pension, provided they pass the income test. Better still, they can have up to $957,500 in financial assets and may still qualify for a part pension.’
‘Even a part pension can make a difference to your retirement lifestyle, as you automatically qualify for a pension concession card. This sought after card provides access to discounts on a range of daily services and items,’ Sutherland said.
* Intergenerational Report 2007
What to do next
To find out more about combining super and social security see our Super savings and government age pension fact sheet.
If you’d like advice on maximising your Centrelink benefits, an AUSCOAL Advisory Services Adviser can provide personalised financial advice from just $110. For an obligation free chat call toll free 1300 AUSCOAL (1300 287 262), Monday to Friday, 8am to 6pm.
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On the road again...
This September and October we’ll be hosting member seminars around the coal mining communities of NSW and QLD.
We'll provide you with up to date super news and education and an opportunity to meet us face to face, ask questions and seek advice. Invitations will be sent in September.
Here's the dates, locations and times.
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Your employer’s needs tackled head on
Tony ‘Butts’ Butterfield and Adrian Vowles join AUSCOAL Super.
 We’ve recently appointed two of Rugby League’s greats to our business relationship team to better serve our employers and members at work.
Read more |
Some great external recognition
Your super fund has received some great external recognition on three fronts in the past few months.
Read more |
Serving you better
Thanks to members who participated in our 2010 research.
In July we commissioned Customer Benchmark Australia to call members and employers to discover how satisfied you are with our customer service.
Read more |
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| Contact Us |
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If you have any questions about this newsletter or your AUSCOAL Super account, you can contact us by email, phone, face-to-face or post. |
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Member Statements coming soon
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Your 2010 Member Statement will be arriving in your mail box in late September.
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Share your super story
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Email us if you have an interesting super story to share. If your story is published you'll receive a $50 Myer gift voucher as a thank you.
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