What is AMIST Super?
AMIST Super is an industry fund originally established for employees of the meat industry to provide benefits for members of the Fund and their dependants. Now, anyone can join and participate in the benefits belonging to our industry fund. In fact, around 50% of our members do not work in the meat industry anymore.
AMIST Super has 3 separate divisions:
- AMIST Super – Employer Sponsored Division
To be a member of this division, a participating employer must nominate you for membership so Superannuation Guarantee contributions can be made on your behalf. It is very easy for employers to sign up as an AMIST Super Employer – and places them under no obligation. You have access to numerous features of the fund as mentioned below in the fund at a glance but it's worth highlighting the insurance here - all members automatically receive automatic Income Protection and Life Insurance as part of their membership. With no questions asked, this low cost insurance gives you and your family peace of mind. And you're covered even if you leave your job for a while or leave the meat industry all togetehr - as long as you have enough money in your account to pay the premiums, AMIST protects you wherever you go. You can always apply for more insurance if you wish, or cancel it if you don’t want the cover.
- AMIST Super Personal Division
This is for our self-employed members or for employees who work for a company that does not want to sign up as an AMIST Super Employer. It still offers all the same low-fees, investment options and services - as well as the automatic 2 units of Life Insurance. This is GREAT for self-employed people who generally have to fill in a lot of paperwork - with AMIST Super there are NO medical questions asked for the basic Life Insurance cover we offer. If you are aged between 15 and 70 years, you can join this division by completing an application form which is attached to the Product Disclosure Statement
- AMIST Pension
If you are aged between 55 years and 70 years, you can join the AMIST Pension (If you are aged 70 years or over, you can remain a member as long as there is enough money in your pension account to make pension payments).
The AMIST Pension:
• Is an Account Based Pension for people aged 55 and over who have retired from the workforce;
• Can also be set up as a Transition to Retirement Pension for people aged between 55 and 65 years of age who are still employed but who can start to access their superannuation as a tax-friendly income. This is a strategy that can save a lot of tax and works well for many of our members.
AMIST Super – fund at a glance
- Industry Fund – profit-for-members, with no commissions to pay - all of our profits go to our members
- Portable - anyone can join* and take us with them no matter where they work
- Low cost administration - $1.20 pw + 0.07% p.a. of your account balance**
- Low investment fee - 0.23% - 0.67% of your account balance** depending on your investment choice(s)
- Life Insurance – automatic for ALL members of both AMIST Super Employer Sponsored Division {where an employer automatically uses us for all staff} and AMIST Personal Division members {self-employed}
- Income Protection Insurance - automatic income protection insurance for ALL super members - covering up to 75% the member’s income for 2 years in the event of accident / illness
- Investment Choice – Secure, Capital Stable, Balanced, Growth and High Growth – or a mixture that suits
- Transparent – employers and members can call the AMIST Super Hotline for help or view their accounts online anytime
- Pension Option – your super invested the same way with the same low-fees but with tax-free earnings and paying you a tax-free income (tax-free income if you’re 60+)
- Member Services – worksite visits, seminars, newsletters, statements, the AMIST Super Hotline and the web site
- Award Winning - recently listed in the top 5 super funds for best-value by Canstar Cannex, we're proud of standing out amongst the thousands of super funds in Australia. We were also finalists in the 2009, 2010 & 2011 Money magazine "Best of the Best" awards as being in the top 3 lowest-cost Super Funds and lowest-cost Pension Funds. Prior to that we were finalists in the 2009 Money magazine "Best of the Best" awards as amongst the best performing Balanced and Growth Investment Options.
*You can only become a member of AMIST Super where a participating employer nominates you as a member. The AMIST Super Personal Division is open to anyone irrespective of their employment.
**Only the $1.20 per week fee is deducted directly from member accounts. All other fees are taken into account when declaring earning rates which are net of fees and taxes. The information provided in this document is a summary of the key features of the fund. Before making any decision whether to become a member of AMIST Super you should read the current AMIST Super Member Guide, which can be downloaded from our website. A printed copy can be obtained by calling the AMIST Super hotline in 1800 808 614.
Join Us!
As you can see, AMIST Super offers a low-cost, simple and straightforward super fund with lots of features and benefits.
To become a member of AMIST Super, please call our AMIST Super Hotline on 1800 808 614 8am-8pm EST or decide which division suits you, read the Member Guide (PDF, 4MB) and send in your application form. It’s easy and we’re here to help.