New super changes

From 1 July 2019, inactive super accounts with no contributions or rollovers received over 16 months will lose their insurances benefits.

To maintain the insurances held in super, a member must tell their super provider they wish to retain the cover in writing, or make a contribution or rollover within a 16 consecutive month period.

It’s important that you regularly consider and understand your current needs to make sure any insurance cover remains appropriate. Your insurance needs can change over time so the cover you had in the past may or may not still be suitable for you today. For example, your needs for financial protection as a young single may be different to your needs if you have dependants or a mortgage. And if you’re downsizing or an empty-nester, your needs may be different again.


The information provided above is of a general nature. This does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.