20k QFF Points for joining Australian Super

[Dr Ralph]

Yeah can confirm I'm on my 6th go at it. Have got my 5x 20,000pts like clock work.

@Le Dessert, I've just opened another account and it's been sometime since I did this before, hoping you can answer this question so I can make my $350 deposit. When I log in I can see the Bpay number, but the reference number is blank. Is this just my member number or something else that they'll soon send me?

 

[Le Dessert]

You're too quick. Take them a day or two to have your account number to deposit. I usually open acct day 1. Deposit day 3. Submit ato returns day 15. Check points day 3+ 31. Rollover immediately after points.

 

[boomy]

I use a different email address and mobile number and QFF for each of them. Obviously same TFN but it works

If I understand correctly it will not work with same QFF if already got bonus once, even if using different email and mobile?

 

[GSP]

I use a different email address and mobile number and QFF for each of them. Obviously same TFN but it works

What is your strategy for 6 QFF accounts with 20k in them? Transfer the points to your main account once in QFF system?

 

[goldenhorn]

I use a different email address and mobile number and QFF for each of them. Obviously same TFN but it works

So if I do this a second time it sounds like my name doesn’t have to match the QFF account? Eg. I use my name but hubbies QF account and different email and phone number for the double dip?

 

[CaptainCurtis]

Applied: 21 December 2019
Transferred $350: 27 December 2019
20k Points Credited: 14 January 2020

I have lodged my Notice of Intent to claim a tax deduction, and have asked my normal super fund to transfer the balance over from AusSuper. Easiest 20k points I've ever earned.

 

[Quickstatus]

its an excellent super fund.

 

[CaptainCurtis]

its an excellent super fund.

Only reason I'm closing the account is that I get a great offering through work.

 

[Quickstatus]

Yes, but its still an excellent super fund

 

[Ade]

Applied 23Dec2019, Combined all my super into Australian Super, awarded 20K today

 

[Quickstatus]

AustralianSuper is part owner of Fund manager IFM Investors

In Australia, IFM and AustralianSuper own 50.4% of AusGrid (NSW poles and wires) through a 99yr lease.
And also a stake in:
MEL, BNE, ADL, PER and NT airports
Port Botany, Port Kembla, Port Brisbane
Southern Cross Station
M1 Eastern Distributor

You and I get a clip every time someone uses these facilities..

SkyBus pays a fee and Passengers going to and from SYD airport using Eastern Distributor as well.

All our AFF members will have contributed to your super!!!

 

[RooFlyer]

Australian Super adding a new fee to 'pay' for recent legislation:

AustralianSuper hits customers with new fee to offset Protecting Your Super law (Probably pay-walled)

The nation’s biggest super fund has hit customers with a new fee to offset the impacts of the federal government’s “Protecting Your Super” laws.

AustralianSuper announced a new variable fee - which could rise to a maximum of 0.04 per cent - will be charged in addition to already existing fees, from April 1.

In an example provided by the super provider, an account with a $50,000 balance would be charged an additional $20 per annum, on top of the $300 and $117 already paid in investment and administration fees respectively.

They haven't notified me yet, and nothing on their web site. Always the last to know ...

 

[serfty]

Australian Super adding a new fee to 'pay' for recent legislation:

I hope such fees do not 'spread'; although it is not 'much',

 

[burmans]

I got an email about this today.

 

[burmans]

I hope such fees do not 'spread'; although it is not 'much',

Cynically I suspect they won’t be the only place to pass this on. Aus Super fees are very low which means they have very limited ability to absorb such costs, for the retail funds it’s more a business decision about maintaining their margin and we know their history on this front.

 

[GSP]

Cynically I suspect they won’t be the only place to pass this on. Aus Super fees are very low which means they have very limited ability to absorb such costs, for the retail funds it’s more a business decision about maintaining their margin and we know their history on this front.

Aus Super outsource their Admin to (AAS) Link Market Services, so there is no direct cost to Aus Super. But if Link have upped the fees they charge Aus Super, then they probably have done the same with their other 30 or so clients (which include some pretty big ones) - be interested to see what happened there.

 

[burmans]

My understanding from a brief scan of the email is that the total fee will remain the same but they can’t charge some customers the full fee hence are upping the fee on those they can. Must admit I didn’t read that closely!

 

[jetcam]

Aus Super outsource their Admin to (AAS) Link Market Services, so there is no direct cost to Aus Super. But if Link have upped the fees they charge Aus Super, then they probably have done the same with their other 30 or so clients (which include some pretty big ones) - be interested to see what happened there.

You are so far off the mark. The direct cost of this legislative change is on the trustee, not Link Group.

 

[RooFlyer]

Its worse than I thought. Retrospective and ... (my bolding) from the Oz (probably paywalled)

In changes that will commence April 1, AustralianSuper announced that the variable fee – which could rise to a maximum of 0.04 per cent – will be charged in addition to already existing fees. The changes, revealed by The Australian online on Wednesday, are expected to pave the way for other super funds to follow.

The new fee has drawn heavy criticism as AusSuper will apply the charge retrospectively applied from April 1 through the previous year, which means members will be charged a full years worth of fees – or 0.16 per cent for the final quarter of 2020 – before dropping to the lower rate afterwards in the new financial year.

In addition, by waiting until after the release of APRA’s heatmaps – which rate super funds on their fees and performance – and then backdating the fee, AusSuper has avoided having the impact of the fee being included in the recent APRA heatmap which ranks fund performance.

 

[casanovawa]

That's bullshite they can manipulate the rankings and tey that retrospective cough.... Hope someone sues their arrse off...