20k QFF Points for joining Australian Super

[motef]

What date did you transfer the $350 over?

31/01/2019

 

[boomy]

Same here, points posted today.

What’s the best time to roll over to main fund?

 

[djchuckles]

Got my points too - my $350 (contributed 31/01) is now worth $355.91 (I went for high risk/growth).

So 20k points and nearly 6 bucks profit - thanks!!

Rollover request already submitted to bring it into my main Super account

 

[Hoffsare]

Anyone have any insight yet as to if a rollover would count yet?

I got email confirmation from the fund that a rollover does meet their criteria for this bonus offer.

 

[Danger]

I got email confirmation from the fund that a rollover does meet their criteria for this bonus offer.

Eliminates one of my concerns.

My tentative plan is to sign up for the offer but not deposit $350 (by way of a contribution from another fund) under the last few days of June. Once 1 July hits and the withdrawal fees have been abolished, I'll move the money back to my primary fund. If my plan works, the actual cost should just be a few dollars at most. While the T&Cs say you need to wait ("approximately") three months for the points to post to your Qantas account, I see nothing in there to say your money needs to stay in the fund until the points post.

 

[serfty]

Once 1 July hits and the withdrawal fees have been abolished,

Has that legislation been passed yet?

I had thought it had been delayed due to pressure from "industry super funds" and the insurance "opt in" changes that are expected to cost them $$$$$'s.

 

[Danger]

Has that legislation been passed yet?

I had thought it had been delayed due to pressure from "industry super funds" and the insurance "opt in" changes that are expected to cost them $$$$$'s.

Yes, it passed.

It was part of the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018. It passed the House last year (December, I think) and the Senate in February. There were last minute compromises but exit fees remained part of it.

Bills Search Results – Parliament of Australia

The Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018 cleared the Senate last Thursday with the support of the Greens [sic].

It gives the Australian Tax Office greater power to consolidate inactive and low-balance accounts. It also bans exit fees and imposes a 3 per cent fee cap on accounts with $6000 or less.

Superannuation fee caps, Hostplus clause become law
​

 

[Deleted member]

OK, I signed up; been looking at Aust Super as an option for a personal account. Will try 'em to see how they look.

The link supplied in the joining e-mail failed, and the on-line route failed, so I called the number supplied.

Oh. My. God.

The poor chap in the call centre is truly clueless; I know its impolitic to say that these days, but its the case IMHO. For instance, he first told me I had to wait 24 hours (link says must be used within 24 hours). Then told be to re-use the link (even though it it says it can only be used once). Then about 3 other things, all of which were spurious. Then it was a pop up problem. Then a browser problem.

I eventually got him to escalate, so now he's slowly typing an e-mail to someone. He read it back - completely wrong! And wrong the second time. And wrong the third time. So we compromised that someone from IT will call me 'maybe within 24 hours'.

I think I'll HUCA.

Edit: the menus and messages when you call are really painful.

Simpler and easier to buy a few cases of (bonus enhanced) Qantas wine !

 

[exceladdict]

Have run some quick comparisons and it seems Aus Super's "choice investment" option is more expensive, with a $395 fixed annual fee, than the Host Plus choice investment fixed - and it has a smaller range of ETFs to select from, esp. compared to ING. 20k points not enough to change my mind on that one

 

[Dr Ralph]

Bit slow on this. But opened an account today.

 

[kpc]

I gave +1 $350 today

 

[Hoffsare]

40k points for about 5 minutes setup and rollover in, plus 5 min rollover out for wife and I is a no brainer.

 

[lang_13]

just be aware of $35 exit fee ... which i believe will be removed in July

 

[djchuckles]

just be aware of $35 exit fee ... which i believe will be removed in July

Yeah. I think I’m gonna exit now anyhow. Else I will pay 15 weeks fees

 

[jetcam]

The exit fee is being removed from 30 March. Earlier than the 1 July legislated requirement.

"The exit fee of $35 will also cease being charged for both the Accumulation and Retirement products from 30 March 2019."

https://www.australiansuper.com/-/m...eases/australiansuper-increases-admin-fee.pdf

 

[33kft]

Game changer right there. Looks like now is an opportunity to exit with 20K points for a few bucks and whatever damage (positive/negative) comes with the chosen investment mix.

It might be technically possible to exit with just the first week's admin fee, but I think that would be brave. If waiting for the points to credit, it looks like around $10 of waiting based on current reports.

Cheaper if you get in right now before the admin hike and roll out at the end of the month.

 

[goldenhorn]

Just received the 20,000 points on my QFF account. Will wait until after 30 March to rollover.

 

[GSP]

Also was tardy on this. Joined today and made the $350 deposit.

Was going to do for my wife's account, but it turns out she has had an Australian Super Account in the past. Drat.

 

[33kft]

Was going to do for my wife's account, but it turns out she has had an Australian Super Account in the past. Drat.

Are you sure that's an issue? My reading of it is that it is not for existing current Australian Super account holders.

 

[GSP]

Are you sure that's an issue? My reading of it is that it is not for existing current Australian Super account holders.

I'd love to be proved wrong or my interpretation is incorrect, but on the page where the link describes the offer states the following:

This offer is available only to Qantas Frequent Flyer members who join AustralianSuper for the first time - simply follow the steps below.

My wife had joined Australian Super once before (an employer default from one of her jobs), so this would be her second time.