Defined Contribution
Any member who makes voluntary regular or lump sum contributions
, or has them made on their behalf to an accumulation style
superannuation account in ESI Super is Defined Contribution
category member.
The size of your benefit when you eventually retire will depend
on the amount of contributions made and the level of investment
earnings you receive (less applicable fees and taxes). The value of
your account is affected by the prevailing investment market
conditions relative to the investment options that apply to your
super account and may therefore rise or fall from time to time.
Features of membership
You can:
- Choose your own investment strategy, maintain it or change it
at any time
- If you do not make a choice, your accounts will be invested in
the default option which, for most people, is the Balanced option
- Choose to make personal contributions to ESI Super. If you wish
to make before tax contributions you will need to discuss this with
your employer
- Manage the level of your insurance cover for Death and Total &
Permanent Disablement and Income Protection as your needs change
over time
- Nominate your preferred beneficiary/ies as recipients of your
superannuation benefit in the event of your death
- Arrange for your spouse join ESI Super and make contributions
for them
- Withdraw your unrestricted non-preserved money
- Roll money into ESI Super from other super funds
- Remain in ESI Super after you retire and access your super as a
lump sum or income stream.
Please take the time to read through Part One of the Fund's
Product Disclosure Statement - ESI
Super Member Guide.
Some members will need to read an additional Part Two. If you
are an employee of Country Energy, CS Energy, Energex, Ergon, ESI
Financial Services, NRG Gladstone Operating Services, Powerlink,
SPARQ, Stanwell, Tarong or any of their associated employers,
please contact ESI Super to request the Part Two applicable to
you.