Page 7 - Nokia Superannuation Booklet

Making Possibilities Happen | 07

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Important information regarding Nokia superannuation insurance
The Federal Government recently introduced legislation which may impact whether
you receive, or continue to keep, insurance in your superannuation account.

Putting Members’ Interests First (PMIF)

If you joined on or after 1 April 2020, and you’re under
25 and/or have an account balance less than $6,000,
you won’t get cover automatically, unless you are
covered by an allowable exemption.

If you subsequently meet the age and account balance New
thresholds, subject to reasonable terms and conditions,
ANZ will provide you with automatic insurance cover. employee
However, you can provide an election at any time to cover is not
receive the plan’s insurance benefit design. automatic

Protecting Your Super (PYS)
To receive Death and Total & Permanent
ANZ may be required to cancel your insurance cover Disablement cover upon joining, complete and
if no contributions or rollovers are received into your return the Insurance Opt-In Nomination form
account for a continuous period of 16 months (unless provided by ANZ in your welcome pack within the
you tell ANZ that you want to keep it).
first 90 days of the date you joined Nokia. Your
For full details of how this may affect you please contact cover will commence from the date ANZ receives
PSK Financial Services, visit anz.com/smartchoicesuper your insurance opt-in nomination.
or call ANZ on 13 12 87.

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