What does it mean for your ElectricSuper membership if you move employers within the electricity industry?
Under the Trust Deed, we can’t pay a benefit to you if you cease employment simply by transferring to another employer in the electricity supply industry. We need to be satisfied that just transferring employers isn’t the reason you’re ‘ceasing employment’ before we pay you any super benefit.
The following examples may help you to determine whether you are likely to have transferred employment to another employer within the electricity supply industry.
In all cases for a ‘transfer’ to occur your new employer must have a business that is predominantly involved in the electricity supply industry in South Australia or elsewhere.
If you have reason to believe that this is the case, then it is likely that you will be taken to have transferred your employment.
Are you aware of your current (former) employer having an agreement in place with your new (future) employer that provides for you to move your employment from the current employer to the new employer?
If such an agreement exists then, subject to your new employer being involved in the electricity supply industry, then it is likely that you will be taken to have transferred employment.
If you have had a break from work since being employed by your former employer and commencing work with your new (future) employer, it is likely that you will not be taken to have transferred employment.
If your new (future) employer has agreed to count your service with your former employer in determining your leave and other benefit entitlements available from the new employer then, subject to your new employer being involved in the electricity supply industry, it is likely you will be taken to have transferred employment.
If employment with your new (future) employer is as a consequence of your current (former) employer transferring the whole or any part of its business to another employer involved in the electricity supply industry, then it is likely you will be taken to have transferred employment.
In circumstances where it is determined that you have transferred employment to a new employer involved in the electricity supply industry, your new (future) employer will be required to participate in ElectricSuper for the purposes of maintaining your current benefit entitlements.
In some cases, the Trustee may have difficulty in enforcing new employers to participate in ElectricSuper and it is recommend that in order to avoid disputes, your new (future) employer is made aware of the requirements as soon as practicable.
If you are in Division 2, 3 or 4 and your new (future) employer is reluctant to contribute to your current Division, there is a facility within ElectricSuper that allows the Trustee (subject to you and your new employer’s agreement) to transfer your participation in ElectricSuper to the Accumulation Scheme (Division 5) of ElectricSuper.
Please contact our Helpline on 1300 307 844 if you need further information about this option. It is recommended you seek financial planning advice before making any decision about transferring to Division 5.
If you’re still unsure about your circumstances, please contact the ElectricSuper Helpline on 1300 307 844. If they are unable to help, you will be referred to the Trustee Office Member Services team. We may ask for further information from you concerning the circumstances of your new (proposed) employment arrangements so that we can provide accurate information for you.
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