Updated May 2026
Summary of changes
| Notice date | Effective date | Nature of the event or change | Impact of change |
June 2026 | 1 July 2026
| Minimum account balance requirement for opening a retirement account | Equip Super retirement income products From 1 July 2026, there is no set minimum balance when opening either a Transition to Retirement Income or Retirement Income account (previously, a minimum balance of $25,000 applied to starting these accounts). |
| June 2026 | 1 July 2026 | Monthly income definition for income protection (IP) cover | Equip Super accumulation members For members with IP cover, we’ve clarified the monthly income definition, specifically – what income is excluded from the annual pre-tax salary when a benefit is paid, based on a member’s employment circumstances immediately before the date of disability. |
| June 2026 | 1 July 2026 | Default death and TPD cover update for Pitcher Partners Employees members | Pitcher Partners Employees members The wording in the Product Disclosure Statement (PDS) and Insurance in your super guide has been updated. These changes provide clearer information about the conditions for automatic death and TPD cover, and when cover may increase without underwriting. |
| June 2026 | 1 July 2026 | Insurance premiums for Dow employee members | The premium rate table was updated. The rates previously shown were the standard rates, with no discount rate applied. |
| June 2026 | 1 July 2026 | Investment- related changes | Equip Super accumulation and Retirement Income products
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| April 2026 | 10 June 2026 | Closure of the Future Focus investment option | This change affects members with balances in the Future Focus investment option The Future Focus investment option will close in June 2026. No contributions, transfers or switches into the option will be allowed after 10 June 2026 and any balances still invested in the option will be transferred into the Balanced Growth investment option. |
| Notice date | Effective date | Nature of the event or change | Impact of change |
August 2025 | 1 October 2025 | Changes to the insurance premiums | Equip Super accumulation (excluding BOC and Rio Tinto plans) and defined benefit members: premium reduction for total and permanent disablement (TPD) cover From 1 October 2025, the cost of TPD cover will reduce by 2.8% for Equip Super members (excluding BOC and Rio Tinto members). The costs for death cover are unchanged. Defined benefit members (excluding BOC) with voluntary cover will also benefit from the premium reduction for any TPD cover they may have. Equip Super accumulation (excluding Toyota plan) members: premium reduction for income protection (IP) cover From 1 October 2025, the cost of IP cover will reduce by 2.8% for most Equip Super members.. |
August 2025 | 1 October 2025 | Changes to insurance premiums and the automatic acceptance limit (AAL) for Toyota members | Toyota employer plan members: premium reduction for TPD and IP cover and Automatic Acceptance Limit (AAL) increase From 1 October 2025, Toyota members will benefit from lower costs for TPD cover (reduced by 2.8%) and IP cover (reduced by 1.3%). The costs for death cover are unchanged. Defined benefit members with voluntary cover will also benefit from the premium reduction for any TPD and/or IP cover they may have. The AAL that applies to members’ basic insurance cover will increase from 1 October 2025:
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August 2025 | 1 October 2025 | Changes to the insurance policy terms | Equip Super accumulation and defined benefit members: removal of two exclusions for death, TPD and IP policies From 1 October 2025, the following exclusions will no longer apply to insurance claims payments:
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August 2025 | 1 July2025 | Investment related changes | Equip Super accumulation and Retirement Income products
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Notice date | Effective date | Nature of the event or change | Impact of change |
September 2024 | 1 November 2024 | Changes to asset-based administration fee | BOC Employees and Elgas plans: Asset-based administration fee reduction The asset-based administration fee charged will increase from to 0.15% pa to 0.19% pa. No changes to the maximum asset-based administration fee charged (this was reduced to $950 pa effective 1 July 2024). |
September 2024 | 1 November 2024 | Change to asset-based administration fee | BOC Retained and Spouse members plan: Asset-based administration fee increase for non-MySuper members The asset-based administration fee charged will increase to 0.19% pa from 0.15% pa on 1 November 2024. No changes to the maximum asset-based administration fee charged (this was reduced to $950 pa effective 1 July 2024). |
| September 2024 | 1 November 2024 | Introduction of insurance fee | BOC (Employees and Retained and Spouse members) and Elgas plans: Introduction of insurance fee A new insurance fee will apply to members with basic and/or voluntary cover. The fee is calculated at 4% of premiums. The cost of insurance cover from 1 November 2024 includes the premium that a member pays (which goes to the insurer) and the 4% insurance fee (which is paid to the Fund). |
September 2024 | 1 July 2024 | Change to asset-based administration fee | BOC Retained and Spouse members plan: Asset-based administration fee reduction for MySuper members The asset-based administration fee charged was reduced to 0.19% pa from 0.22% pa and the maximum asset-based administration fee charged was reduced to $950 pa effective 1 July 2024. |
May 2024 | 1 July 2024 | Changes to asset-based administration fee | Equip Super accumulation and defined benefit products: Asset-based administration fee reduction The asset-based administration fee charged on accumulation account balances, and voluntary additional accumulation account balances for defined benefit members, will reduce to 0.19% pa from 0.22% pa. As a result, the maximum asset-based administration fee charged will reduce from $1,100 to $950 pa. For most members in the BOC and Elgas plans, there is no change to the asset-based fees, but the maximum asset-based administration fee charged will reduce from $1,100 to $950 pa. |
May 2024 | 1 July 2024 | Changes to administration fees | Retirement products: Reductions to the weekly administration fee and asset-based administration fee The weekly fee will reduce to $1.00 per week from $1.95 per week. The asset-based administration fee will reduce from 0.20% to 0.19% pa. As a result, the maximum asset-based administration fee charged will reduce from $1,000 to $950 pa. |
May 2024 | 1 July 2024 | Introduction of insurance fee | Equip Super accumulation and defined benefit products: Introduction of insurance fee A new insurance fee will apply to accumulation members with basic and / or voluntary cover and defined benefit members with voluntary cover. The fee is calculated at 4% of premiums. The cost of insurance cover from 1 July 2024 includes the premium that a member pays (which goes to the insurer) and the 4% insurance fee (which is paid to the Fund). |
May 2024 | 1 July 2024 | Changes to insurance terms and conditions | All plans with insurance cover There will be some changes to insurance terms and conditions:
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May 2024
| 1 July 2024 | Changes to insurance terms and conditions | Permanent employees working for a Rio Tinto, QAL, Yancoal, Glencore or Kestrel employer Members will maintain their salary-based cover and will no longer change to unit-based cover when they cease employment or elect Choice of Fund. |
May 2024
| 1 July 2024 | Investment related changes | CPI and investment objectives The time horizon to meet the respective CPI+ objectives for the Balanced, Capital Stable and Defined Benefit options will increase to 10 years. Strategic asset allocation range changes The strategic asset allocation permitted ranges were lowered for the Australian shares asset class (Growth Plus, Growth, Balanced investment options) and overseas shares (Growth Plus investment option). The standard risk measures for each investment option were recalculated. The transaction costs and performance fees were recalculated for each investment option, based on the experience of the past 12 months. |
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