We are committed to improving outcomes for our members by adopting the Insurance in Superannuation Voluntary Code of Practice (the Code), which came into effect from 1 July 2018. The principles of transparency, fairness, respect, honesty and timeliness align well with our commitment to deliver ‘Super fair and square’.
What is the Code?
The Code is a set of standards developed by the superannuation industry to:
- improve the value of the insurance cover you receive as part of your super,
- make it easier to cancel cover you don’t need,
- simplify the way we communicate about your insurance cover,
- make sure you get the support you need to understand your cover, and
- speed up the process for making a death or disability claim.
Once we’ve fully implemented the Code, we’ll be reporting regularly to the three industry bodies responsible for overseeing the Code: the Association of Superannuation Funds of Australia (ASFA), the Australian Institute of Superannuation Trustees (AIST), and the Financial Services Council (FSC).
You can find a copy of the Code here.
How and when we’ll comply with the Code (our transition plan)
We will be working to comply with all the standards of the Code as quickly as possible, but we’ve outlined in this document by when we intend to comply with certain standards.
We’ll keep the information here up-to-date if our plans change, or if we’re able to comply earlier.
Last updated 8 May 2019