Document ID: chunk:federal_register_of_legislation:F2025C00069:schedule:2a:p2
Version: federal_register_of_legislation:F2025C00069
Segment Type: schedule
Provision Reference: sch 2A (pt 2/12)
Character Range: 833212–835848

30 June [insert the calendar year in which the date of this letter falls], of which $[insert the beneficiary's account balance for the Part 6A product as at 30 June in the calendar year in which the date of this letter falls] was invested in [insert the name of the Part 6A product]. Last financial year you paid a total of $[insert total fees and costs charged to the beneficiary in the relevant financial year, excluding insurance fees] in fees to [insert the name of the superannuation entity].

Your money will stay in [insert the name of the superannuation entity and the name of the Part 6A product] unless you move it. Switching super funds is easy and there are no exit fees.

You could save thousands of dollars more for when you retire by switching to a better super fund. Super is a long‑term investment. By earning 1% more each year for 30 years, you could retire with 20% more in savings; for example, your super could increase from $100,000 to $120,000.

Finding a better super fund is easy with the Australian Government's YourSuper comparison tool. You can use the tool to compare the fees and earnings of all simple, low‑cost MySuper products. Go to ato.gov.au/yoursuper or use the QR code below:

[insert QR code for ato.gov.au/yoursuper]

This letter does not take your personal situation into account. You should think about your investment plans and personal situation, including insurance, when switching.

When you have opened a new super account, contact the new fund or use myGov to move your money over.

Your questions answered

What is the annual performance test?

The annual government test checks how much your super product has earned (after costs) over the last [insert the number of financial years in the lookback period for the Part 6A product in respect of the relevant financial year] financial years. It compares your product's earnings with those of a similar product over the same period.

Super funds with products that fail this test are required to tell you.

You can find out more about super at moneysmart.gov.au.

How do I move to a new super fund?

The first step is to find a new super fund. You should think about your investment plans and personal situation, including insurance, when switching.

You may find it helpful to use the Australian Government's YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, low‑cost MySuper products. Go to ato.gov.au/yoursuper or use the QR code above.

Once you have chosen a new super fund, contact the new fund to open a new account.

After opening a new account, move your money from your existing one. You