The current wrap offer documents are available from https://www.macquarie.com.au/advisers/solutions/macquarie-wrap.html
This Product Disclosure Statement is to be read in conjunction with the relevant Zurich insurance Product Disclosure Statement. To view the Zurich website, please click here.
(Closed to new investments)
Macquarie Wrap Consolidator
Macquarie Wrap Manager
Macquarie Wrap Accumulator
On 10 March 2021, Macquarie Investment Management Limited (MIML), the Trustee of the Macquarie Superannuation Plan (the Fund), held its first Annual Members’ Meeting virtually for members of this Fund.
The meeting provided members with the opportunity to join the MIML Board of Directors and Executive team to review the Fund’s key achievements during the year to 30 June 2020 and hear an update for the year ahead.
During the meeting, Members also had the chance to ask questions of the Board of Directors, Executive team, and fund auditors.
The trustee of Macquarie Superannuation Plan (MSP) and Definitive Superannuation Plan (DSP), Macquarie Investment Management Limited (the Trustee) is now required to annually assess and compare the quality and competitiveness of its superannuation and pension products. This is a new regulatory requirement that was legislated in 2019.
The Trustee has recently completed its first member outcomes assessment for the Macquarie Superannuation Plan and Definitive Superannuation Plan for the period 1 December 2019 to 30 November 2020 – this assessment covers the following superannuation and pension products (collectively, ‘the products’):
Macquarie Superannuation Plan
Super and Pension Manager II
Super and Pension Consolidator II (Engage and Elevate investment menus)
Super and Pension Consolidator*, including the following branded products
a) Vision Super and Pension
Super and Pension Manager*, including the following branded products
a) Private Portfolio Solution Super Account*
b) Private Portfolio Solution Pension Account*
c) Premium Super Online*
d) Premium Pension Online*
e) Gateway Super and Pension Service*
f) Premium Portfolio Service Super Account*
g) Premium Portfolio Service Pension Account*
Term Allocated Pension Manager*
Definitive Superannuation Plan
Definitive Super Account*
Definitive Pension Account*
* Note these products are closed to new members.
These are choice platform products that are only available for members who choose the relevant product. There are no members who default into a MIML product and so there are no MySuper members.
Following the completion of this assessment, the Trustee has determined that for the products listed, it is promoting the financial interests of members – this document summarises the results of the Trustee’s assessment.
As part of the SuperStream reforms, employers are required to send super contribution payments and related contribution data electronically to super funds using the new Data and Payments Standard (the Standard).
We encourage you to familiarise yourself with your obligations under the SuperStream reforms. We have included below several videos and FAQs by the Australian Taxation Office (ATO) to help you understand the SuperStream reforms. For more information, please visit the employer section of the ATO website.
Macquarie-administered superannuation funds are able to receive SuperStream contributions.
We will continue to accept contributions using existing methods during the transitional period for those employers who have not transitioned to the Standard and are not yet ready to send contributions using an eligible SuperStream method.
Employers or their service providers can obtain the appropriate crediting details (bank details for EFT payments and biller codes for BPAY) from the ATO Fund Validation Service.
Employers will require the following fund information to send contribution information and payments via the Standard:
Employers or their service providers can use the USI to assist with identifying the individual super product on the ATO’s Fund Validation Service in order to obtain the crediting details for that super product. Please refer to the ATO resources on this page for more information.
Please note our existing direct debit, direct credit (direct deposit facility) and BPAY payment options for employer contributions are not eligible SuperStream contribution formats. However, we will continue to offer existing contribution methods for employers to meet Superannuation Guarantee (SG) obligations while they preparing to upgrade to an eligible SuperStream method.
We recommend employers transition to a SuperStream compliant method as soon as practical (as outlined in the previous section ‘Sending contributions under the new Standard’).
The ATO has advised employers have several options for meeting the Standard for contributions, such as:
Please view the ATO’s Prepare now for SuperStream flyer for a summary of what you need to do.
If you have any questions regarding how to make employer contributions to our super product, please contact us.