Here are the top 10 questions that members asked us in 2020

Published 14 June 2021

LGIAsuper is dedicated to helping you understand superannuation. Learning how to grow your super can help you achieve a more comfortable retirement.

The world of super can be complicated. We aim to make it quicker, easier and more convenient for you to stay on track.

Here are the 10 most common questions that our members asked us in 2020. We’ve answered each one below, giving you useful links to find out more about each topic.

1. When can I access my super?

This is the most popular question we get asked. It’s a good question and essential for you to know when planning your retirement.

Generally, your super is preserved for your retirement. However, there are some circumstances where you may be able to access some of your super sooner.

You can usually access your super when you meet any of these conditions:

• You permanently retire after reaching your preservation age – this is determined by when you were born, as below. 

Date of birth	Preservation age
Before 1 July 1960	55
1 July 1960 – 30 June 1961	56
1 July 1961 – 30 June 1962	57
1 July 1962 – 30 June 1963	58
1 July 1963 – 30 June 1964	59
From 1 July 1964	60

• You reach age 60, and then change jobs, or are not working at all.

• You reach age 65, whether you are working or not.

If you are still working after reaching your preservation age, you can start a transition to retirement income stream. This enables you to access some of your super as regular payments (but not as a lump sum).

There are some situations where you may be able to access some of your super earlier:

• Severe financial hardship, as defined by the Australian Government.
• Compassionate grounds, approved by the Australian Taxation Office.
• Total and permanent disability.
• Terminal illness.
• Temporary residents permanently leaving Australia.

Find out more: Accessing your super info sheet

2. If I am already eligible, how do I access my super?

Depending on the conditions of release you have met, LGIAsuper offers a choice of options for accessing your super.

• You can open an LGIAsuper Pension account that enables you to receive regular, automatic payments and make lump sum withdrawals.
• You can make lump sum withdrawals from your LGIAsuper Accumulation account.
• If you choose to keep working after reaching your preservation age, you can start to access some of your super as regular payments (but not lump sums) by opening an LGIAsuper Transition to Retirement Pension account.

Find out more:
•  Pension accounts Product Disclosure Statement
•  Accessing your super info sheet

3. What is my account balance?

The quickest and easiest way to view your account balance is by logging into Member Online.

You can always find the login button to Member Online at the top-right of our website, lgiasuper.com.au.

If you would prefer to talk to us, we can tell you your balance over the telephone. Call us on 1800 444 396.

Find out more: Easy access to your account with Member Online

4. Can I make additional contributions to my super?

Yes, there are various ways you can put money into your super, on top of contributions made by your employer (if you’re working).

Here are three of the ways you can give your super a boost:

• Salary sacrifice

Salary sacrifice is when you and your employer agree to make an additional contribution to your super from your before-tax pay.

You may benefit from salary sacrificing if your marginal tax rate is higher than 15%, which typically applies to annual salaries over $37,000.

• Personal contributions

You can grow your super by making personal contributions. This is money you choose to pay into your super from your after-tax income – they are also referred to as non-concessional contributions.

You may be eligible for a tax deduction for your personal contributions. If your annual income is less than $54,837 (2020/21), you may be eligible for a co-contribution from the Government.

• Adding to your partner’s super

If you are married or in a de-facto relationship, you and your partner can help grow each other’s superannuation.

You can add to your partner’s super by making a spouse contribution directly to their account, and if your spouse earns below $40,000 per year you may be eligible for a tax offset. You can also split some of the contributions made to your account with your partner.

Your contribution caps are the annual limits on how much you can contribute to your super. You may have to pay extra tax and a fee if you exceed them.

During the year, you can check that you are staying under your contribution caps by logging in to Member Online.

Further information about everything we have covered here is available in the info sheets below.

Find out more:
•  Ways to grow your super info sheet
•  Super for your partner info sheet
•  Salary sacrifice info sheet

5. How do I set up a Pension account?

You can apply for an LGIAsuper Pension account by completing our Pension application form (P01) and returning it to us. This is available in two places:

• lgiasuper.com.au/forms – listed under ‘Approaching retirement’.
• P01 form on page 23 of the Pension accounts Product Disclosure Statement

Before opening a Pension account, we recommend you read our Pension accounts Product Disclosure Statement – see link below.

We also recommend that you talk through your options with us before investing in this product. We’re here to help, call us on 1800 444 396.

If you open an LGIAsuper Pension account, it’s easy for you to manage and update your details online. Log in to Member Online, where you can change the following:

• How much you receive each pension payment.
• How often you receive these payments – you can choose from fortnightly, monthly, quarterly, half-yearly or annual payments.
• Details of the bank account in which you would like your income deposited.

Find out more: Pension accounts Product Disclosure Statement

6. What are LGIAsuper’s fund details?

There may be times when you need our fund’s details to complete a transaction. Our four most frequently requested details are:

• Super Product Identifier Number (SPIN): QLG0001AU
• Australian Business Number (ABN): 23 053 121 564
• Unique Superannuation Identifier (USI): QLG0001AU
• Superannuation Fund Number (SFN): 150 541 949

If you need to submit a form for a transaction, you can do this quickly and securely online by logging into your account. Alternatively, you can attach a file to a message on our website’s Contact us page.

Find out more: Fund details on our Contact us page

7. How can I update my contact details?

If you are an LGIAsuper member, you can access your account securely by logging into Member Online. You can also log in from our website homepage.

• On the left-hand menu (desktop), click Personal details
• You can update your details, and then click Submit

Member Online also enables you to update how you would like to hear from us. You can choose email or post for the different types of information we send you. SMS and phone calls are optional methods for some communications.

If you do not have internet access, you can call us on 1800 444 396 to request any changes over the telephone.

Find out more: Log in (or register for access) to Member Online

8. How do I nominate my beneficiaries?

You can nominate your beneficiaries with a binding death benefit nomination. This is a legal document that binds LGIAsuper to pay your benefit to whoever you have nominated, as long as they are valid nominations in accordance with superannuation legislation.

Another type of nomination is called a reversionary beneficiary nomination. This is when your pension can continue to be paid as a pension to your beneficiary (generally your spouse).

Before you make a nomination, we recommend you read the information on our website. 

We also recommend you seek professional advice before making any arrangements regarding the treatment of your estate. There may also be social security or tax implications for your potential beneficiaries.

LGIAsuper is here to help you. Contact us on 1800 444 396 to talk through your beneficiary options and have your questions answered.

Find out more: Nominate a beneficiary

9. What is my insurance cover?

The easiest way to tell how much insurance cover you have is by logging into Member Online.

When you’ve logged into your account, you can view your current insurance cover profile. You can also increase, decrease or cancel your insurance cover and other tasks such as transferring or converting your cover, and submitting a claim.

If you would prefer to talk to us, we can tell you your insurance cover over the telephone. Call us on 1800 444 396.

Find out more: LGIAsuper insurance cover

10. How do I request a username reminder or password reset?

The last question in our top 10 is a common task in many areas of our daily lives – password resets.

LGIAsuper username reminders and password resets can be requested online.

Visit Member Online (also accessible via lgiasuper.com.au) and you will see buttons for both forgotten username and password.

We use two-step verification for password resets. During this process, a verification code will be sent to your mobile number or email address which needs to be entered before proceeding.

Find out more: Member Online login page