In April 2011, RUPA conducted a review of its Superannuation Plan through our long-standing financial planning partners, The Sherlock Group.
The following needs and objectives of RUPA and its members were identified and formed the criteria for reviewing alternative options.
- Well-researched investment choices and a well-structured default investment option for those members who do not wish to make an investment choice.
- Overall fee structure and any insurance premiums need to be very competitive.
- Retention of fund membership with minimal-to-no alterations to existing benefits upon conclusion of playing career.
- Simplified and reliable administration service.
- Provide members with access to financial education and regular communication.
- Competitive and relevant benefits to members.
Upon completion of the review and subsequent tender, RUPA was pleased to partner with Colonial First State as the Players Superannuation provider.
In response to the MySuper legislation, Colonial First State now provides a lifecycle approach known as FirstChoice Lifestage (click here to download).
Members will be placed in a Lifestage option when they enter the product, based on their date of birth. As a member moves closer to retirement, the asset allocations between equity and non-equity assets change.
Lifestage options are specifically constructed for members born in the same five year age band. As a member gets older the level of investment risk reduces. This helps to potentially reduce the impact on their retirement savings in the event of substantial falls in investment markets. For members closer to retirement, an event such as this can significantly impact the amount of savings they have for their retirement years.
The Product Disclosure Statement (PDS) can be viewed online at www.colonialfirststate.com.au.
Players can view their account online, updating your personal details and accessing the First Benefits offering using your Investor Account Number to login. Visit www.colonialfirststate.com.au to get started.
Players who have general superannuation enquiries, including but not limited to insurance cover, consolidating multiple superannuation funds or approaching retirement, can contact Toby Duncan, RUPA General Manager, Player Services & Operations on (02) 9519 8211 or email@example.com.
Players experiencing technical issues accessing their account online can contact Colonial First State on 1300 654 666.
Investing your super wisely is crucial to your financial future. Should you wish to speak with a financial adviser, Jonathan Sherlock of The Sherlock Group is the adviser to the RUPA Plan. Call him on (02) 9431 7000.