Water Corporation Superannuation Plan
|2014 Annual Report|
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Welcome to the Water Corporation Superannuation Plan (Plan)- the Fund of choice for the Water Corporation and its employees.
The Plan is a not for profit fund, with over $350 million in assets and serving over 3,500 members.
Main Features of the WCSP
- Exclusive 14.5% total contributions when members voluntarily contribute an extra 3%. Water Corporation will pay an additional 2% bonus amount on top of the 9.5% SGC to help you build your account for retirement (not applicable to employees on common law contracts and limited members).
- Low membership fees - $3.30 per week plus 0.1% off earnings per annum for the accumulation division and 0.2% per annum for the pension division.
- No entry, account keeping or adviser service fees.
- Financial planning services with no commissions to financial planners and discounted fees.
- Unique insurance offering with competitive group rates for death, total and permanent disablement and salary continuance benefits. Cover is available up to 65 years of age.
- Automatic insurance cover for members who leave Water Corporation and transfer their membership to the Retained membership category.
- Flexible investment options - four investment options, which can be switched on a monthly basis to suit your personal circumstances and objectives .
- On-line access to your personal details via secure website – anytime, anywhere.
- Continued membership available if you leave the Water Corporation and transfer to the Retained category – conditions apply.
- Facility to easily create a spouse Super account and to hold both TPD and Death insurance cover.
- Join as a Limited member and “top-up” you primary super with an additional account to achieve your retirement goal.
- Option to contribute to the Plan from an alternative employer if you are a retained or a spouse member (conditions apply).
- Competitive Income Stream options
- Account Based Pension for retirees
- Transition to Retirement Pension
- Member discounts on low cost banking products with ME Bank, including homes loans, credit facilities and bank accounts.
- Member discounts on medical health benefits with BUPA with some attractive offerings on an essential benefit for you and/or your family.
- Personalised member service located at John Tonkin Water Centre.
- Highly professional external support services for investment consulting, administration, auditing and accounting.