Reshaping for the future

• For the majority of customers total fees and costs have not increased.
• For a very small number of customers total fees and costs have increased, or the timing of rebates have changed, as a result of the move.
• In the event your total fees and costs increase, or you are impacted by the timing of rebates, a one-off adjustment will be made to your account equivalent to 18 months of likely financial impact. This will give you time to consider whether the changes are right for you.
• This will be calculated at the date of the move and will be paid within two months of the move, if the account remains open. You will be able to see this as an adjustment to your account. You will receive written notification if this amount is more than $20.
  

As part of the move, we’ve ensured your plan balance immediately after the move is the same as it was immediately beforehand. This has been done by covering any transaction costs and tax implications associated with the move.

• As a result of move to AMP Flexible Super, the name of your insurance has changed, details of which can be found in your new insurance guide fact sheet available on amp.com.au/transform/fs.
• Despite the name change, the move hasn’t resulted in any change to the type of insurance cover you hold and the amount of insurance cover (sum insured) you held at the time of the move
• While insurance premium rates charged hasn’t changed for the vast majority of members, for some members, there may be differences due to:
  • small rounding differences in the total premiums charged, or
  • changes in the timing of some administrative processes.
• These differences have been considered in the calculation of any one-off adjustment paid to members. The timing of your insurance premiums payments will also move from monthly in arrears to monthly in advance.
• There may be some change to the terms and conditions of your insurance cover as a result the move, details of which can be found in your information guide, which is part of the significant event notice sent to you before the move.
  

• If we’re your employer’s super provider of choice, we have notified them of the changes and let them know what actions they need to take to make sure your super contributions continue without interruption. If you have any additional employers, who also contribute to your plan they’ll need to know its new details. We’ll send you pre-populated choice of fund form for you to provide to any additional employers.
• Alternatively, if your super plan is not your employer’s super provider of choice or you have previously asked your employer to pay contributions into your account, your employer will need its new details. We’ll send you a pre-populated choice of fund form, which will accompany the transaction confirmation which you should receive two to four weeks after the move, to give to your employer with the new details they’ll need.
• You can log into My AMP and email the pre-populated form directly to your employer.
  

• As a result of the move, there may be delays of up to eight business days for processing transaction requests.
• Changes will flow through to My AMP with all updates being reflected by Monday 1 June 2020.