Water Corporation Superannuation Plan (the Plan) understands it is important that you feel that we respect your personal information. You must also be confident that we do not interfere with your privacy when handling your personal information. WCSP is bound by the Australian Privacy Principles (APPs) issued under the Privacy Act 1988 (Cth).
In order to admit and maintain you as a member of the Fund, the Trustee needs to collect certain information about you. Your employer also provides some relevant information about you.
The information that is collected will be used principally for the purpose of managing the affairs of the Fund and to help you to maximise your superannuation benefits. This may include providing you with information about other products and services that may help you to understand and make decisions about your investments and retirement savings. We will only use and disclose information about members in accordance with the terms of relevant privacy legislation.
The main legislation affecting the administration of superannuation funds is the Superannuation Industry (Supervision) Act 1993 and the regulations under the Act. The Trustee needs to request and hold certain information in order to meet its reporting and record-keeping obligations under the legislation and to enable your benefits to be properly administered.
We may disclose some information we hold about members to third parties in connection with the operation of the Fund. For example, certain information may be provided to a sponsoring employer, your financial adviser, the Fund's consultants, advisers or insurers, any new trustee or administrator who may be appointed, or persons or organisations offering other services that may help you to maximise the value of your benefits. In some cases the law may also require us to disclose information to other people or organisations. As a member of the Fund your address and any updates to this address which you provide to the Corporation will be forwarded to the Fund's administrator.
New privacy laws took effect from 12 March 2014. Under the new rules you are generally able to access information that we hold about you on request. For example, you may want to establish that the information is accurate, complete, or up-to-date. However, in some cases a charge may apply to cover the costs of providing the information. The Trustee or Fund Administrator will be able to advise you whether a charge will apply in any particular case.