UniSuper is the superannuation plan for the majority of University staff.
The UniSuper Plan has four Divisions each with varying eligibility criteria.
- Division A Defined Benefits – closed to new members.
- Division B Defined Benefits - the default Division for majority of new staff members.
- Division C Accumulation – an alternative for Defined Benefit members known as Accumulation (2).
- Division D Accumulation – known as Accumulation (1) which covers both 9% accumulation accounts and a 3% accumulation (formerly known as Tertiary Education Superannuation Scheme TESS account) for Division A, B &C members.
The UniSuper website provides online access to your account where you can:
- Get up-to-date details regarding your account balances and recent transactions.
- Make investment switches within your accumulation account.
- Update your personal details (if you do so please also remember to notify SydneyPeople).
- Calculate how much you need to contribute to superannuation to maintain your lifestyle in retirement.
- Look up your insurance cover and calculate how much insurance you need.
- Check the details of your fund.
The website also provides advice on consolidating superannuation accounts and Preservation which legislates the conditions under which you can access your superannuation.
Upon termination if you have been working in Australia as a temporary resident you may be eligible to claim your superannuation. You can do this if:
- you visited on an eligible temporary resident visa,
- your visa has expired or been cancelled, and
- you have permanently departed Australia (you may still be able to return to Australia on another visa even if you claim and receive your superannuation money).
This payment is called the Departing Australia Superannuation Payment and is commonly referred to as a DASP. Follow this link to the Australian Taxation Office website to make a claim and obtain further information - Temporary residents - Departing Australia.