The Fire and Emergency Services Superannuation Fund (FES Super) is the superannuation fund for employees of the Department of Fire and Emergency Services of Western Australia and some associated employers.
FES Super Latest News
2019/20 Federal Budget
There were only three modest contribution changes to superannuation announced in the Federal Budget on 3 April 2019 that will assist members. These changes are proposed to commence on 1 July 2020 and assume that the current Government is re-elected at the Federal Election scheduled to take place on 18 May 2019.
The changes are:
Members aged 65 and 66 will be able to make voluntary contributions and non-concessional super contributions without meeting the work test. This test requires a member to work at least 40 hours over a 30 day period;
these members aged 65 and 66 will be able to make voluntary non-concessional contributions of up to $300,000 in a single financial year;
members will be able to make voluntary contributions for a spouse partner up to age 74, up from the the current cut-off of 69 years.
It is emphasised that these are Government proposals only and must be approved by parliament before becoming law.
The main superannuation and pension measures that were announced by the Government in the 2018 Federal Budget are as follows:
Transfer of all inactive superannuation accounts under $6,000 to the Australian Taxation Office
Abolish exit fees on all superannuation accounts
3% annual cap on administration and investment fees for superannuation accounts with balances of less than $6,000
Remove default insurance for members aged under 25 who have a super balance of less than $6,000 and who are inactive members of the Fund
Allow retirees aged 65-74 with a super balance below $300,000 a one year exemption from the work test for making voluntary super contributions
Amend pension means test rules to encourage the development and take up of lifetime retirement income products
Increase the earnings cap for the Pensioner Work Bonus Scheme from $250 per fortnight to $300 per fortnight and expand to include self-employed retirees
Expand Pension Loans Scheme (reverse mortgage arrangement) to cover all Australians over Age Pension age
All of these measures are intended to take effect from 1 July 2019. However, they are proposals only at this stage and will remain as proposals until such time as they are formally approved as legislation by Parliament.
If you would like more information on any of these proposals please contact us.
Certified Copy of proof of your identity for rollovers or payments
Members are reminded that we are required by law to confirm your identity before you can withdraw all or part of your benefit from the Fund or where you wish to transfer money into the Fund.
Enhanced security measures adopted by the Superannuation Board with effect from 1 January 2018 require you to provide to the Fund a certified copy of your proof of identity on each and every occasion that you seek a payment from the Fund, where you seek to transfer money into the Fund or on such other occasion as the Superannuation Board requires you to prove you are the person to whom the superannuation entitlement belongs. The proof of identity document provided should have photographic evidence of your identity and be dated within 7 days of your request for a payment or a transaction.
To help you manage your finances including your superannuation to achieve financial security in your retirement we have provided you below with a direct link to the Federal Government's Australian Securities and Investments Commission's (ASIC) Moneysmart website.
This link to the Moneysmart website will enable you to access free and impartial financial guidance and tools that you can use to manage your money both before and after your retirement from employment.
Rolling over your superannuation accounts from other funds into FES Super will make it easier for you to manage your superannuation and reduce the overall administration fees you have to pay for your super.
To help you maximise your superannuation we have provided you with a direct link to the Super Guru website that is maintained by the Association of Superannuation Funds of Australia Ltd. To access the Super Guru website click on the words "ASFA - Super Guru - Super Consolidation" below.