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COVID-19 and your AUSfund account

 

We understand that we are now living in unprecedented times and the uncertainties of the global pandemic COVID-19 are challenging the ways we all live and work. We want to assure you that we are closely monitoring the situation through the relevant authorities and adapting our fund processes accordingly as the situation changes.

Of critical concern is the health and safety of our team, financial security for our members and continued ability to service members’ claims.

Member services and contact centre hours

At the same time as we are implementing remote working and social distancing policies within our work sites, we’re understandably receiving a significant increase in member enquiries. If your enquiry is not urgent we request you call back at a later date or email us at admin@ausfund.com.au. There may be some delays in responding to your enquiries.

We ask for your patience and, if possible, see if your question can be answered somewhere on our website. We have a full suite of forms that you can download in the form library along with instructions on how to provide the right identity documents to support your claim. We’re all in this together, our staff included.

Early release claims

The Government has announced that they will be allowing workers who have been stood down or had their hours drastically cut due to the pandemic to access up to $10,000 from their super in the current and next financial year, starting in mid-April 2020. Members will be able to log in to my.gov.au to check their eligibility and make an application.

The proposed changes are not yet in effect but we will update our website with more information as the legislation and application process is confirmed. In the interim, the Government has produced a fact sheet on the measures which you can read here.

Market volatility

Sharemarket and investment fluctuations can seem scary. AUSfund has always invested your super to minimise risk and maximise your return and now is no different. Moving super out of a volatile product during a financial crisis can lock in your loses and cause you to miss out on a recovery as markets return to normal. We encourage all investors to remain calm. While AUSfund dos not have a range of options members can switch into, we are doing what we can to minimise significant upheavals to members’ returns.