COVID-19 information for members and employers

LGIAsuper’s team and systems have been well-prepared to handle the issues facing us all today. We aim to minimise disruption, protect our members’ interests, and ensure the health and safety of our staff and members.

This web page will be updated regularly with the latest information for our members and employers.




A word from our CEO, Kate Farrar



Early access to superannuation due to COVID-19

The Australian Government is allowing eligible individuals affected by COVID-19 to access up to $10,000 of their superannuation in 2019/20 and a further $10,000 in 2020/21.

Applications for the early release of superannuation due to COVID-19 must be made to the Australian Taxation Office (ATO), and not to LGIAsuper. Eligible individuals can apply through the MyGov website.

Further information is available at:

Updated 24 June 2020


Scam warning

The Australian Government has warned that scammers are taking advantage of people impacted by COVID-19, attempting to steal their superannuation or charging fees for services that are not required. Scammers can target you online, by phone or email.

The Australian Taxation Office (ATO) is handling the early release of superannuation through its myGov website (https://my.gov.au). There is no need to involve another company or to pay any fees for the ATO’s application process.

We urge our members to be vigilant about online, phone and email scams. Be wary of anyone claiming to be from a bank, superannuation fund or financial services provider. The Australian Government has published useful advice on its Scamwatch and Moneysmart websites.

Protecting our members’ superannuation is our highest priority. If you are concerned about anything, please contact LGIAsuper at 1800 444 396.

ATO investigations
The ATO is tackling illegal activity and behaviour related to early access to superannuation. It is taking action against people who are exploiting the system. Information about the ATO’s compliance measures, investigative powers and a confidential tip-off hotline is available on the ATO website.

Updated 24 June 2020


Insurance cover

Members with current LGIAsuper insurance cover will be covered for any death or disability relating to COVID-19. There will be no impact on claims decisions due to COVID-19. As with all claims, members must fulfil any disclosure obligations and meet all other terms of the policy to be eligible for a benefit payment. For further information, please refer to our Insurance guide [PDF].

What happens if your employment situation changes?
If at any time you have a loss of hours, or are stood down temporarily or permanently, you should consider the impacts of this change to your insurance cover and the cost of your ongoing insurance premiums. Please contact us on 1800 444 396 or refer to our Insurance guide [PDF] for more information. 

Can you claim Income Protection benefits if you lose your job, or have been stood down on leave without pay?
No. Income Protection does not cover you for workplace closures, or quarantine, or where you have no sickness or injury. Income Protection cover is designed to protect you if you become totally or partially disabled by sickness, or by injury, which prevents you from working and earning an income.

The Australian Government is providing financial assistance to people impacted by the coronavirus. Please see https://treasury.gov.au/coronavirus/households for more information on the types of assistance available.

Can you get additional insurance cover, and will it cover you for COVID-19?
Yes. We are pleased to support our members during the COVID-19 pandemic. Normal terms and conditions apply. Before making any decisions, please refer to our Insurance guide [PDF] for full details.

Talk to us
We're here to help. If you would like to discuss anything further, please contact us on 1800 444 396. We are open weekdays 8.30am to 5.00pm AEST.

Updated 27 May 2020


Switching investments – avoid rushed decisions

LGIAsuper is working hard to protect our members’ superannuation during this market volatility. We urge members not to panic, and not to make rushed decisions before getting personal advice. Remember, superannuation is a long-term investment.

To find out more read this article and view the video from our Chief Investment Officer, Troy Rieck.

If you are switching investment options, you should be aware of the timings involved in our processes:

  • Your request needs to be received by LGIAsuper before 5.00pm on a business day (Monday to Friday excluding public holidays) – anything later will be considered as received on the next business day.
  • On the next business day after your request is received, your investment option switch will be processed.
  • On the second business day after your request is received, you will be able to view the transaction on your account in Member Online. The earning rate that was applied will be shown on our website.

Please note that LGIAsuper’s unit pricing policy and processes ensure that the latest valuations are used when calculating earning rates. Both domestic and international assets are revalued based on close of business prices on the effective date of your transaction. Your investment option switch will be processed the following business day, based on the crediting rates calculated at close of business of the date that your instruction was received.

This is consistent with market practice, and our process timings ensure that all transactions are fairly priced for members.

Updated 15 April 2020


Government reduction to minimum drawdown requirements for pension accounts

The Australian Government is temporarily reducing minimum drawdown requirements by 50% for account-based pensions and similar products, to assist retirees during the financial market volatility caused by COVID-19. This reduction will be for financial years 2019/20 and 2020/21.

Eligible account types for LGIAsuper members are Allocated Pension, Term Allocated Pension, and Transition to Retirement Pension.

The minimum drawdown requirement is the minimum amount that must be withdrawn from your account each financial year – LGIAsuper refers to this as the minimum pension payment amount.

Further information is available at:

Updated 14 April 2020


Meetings, appointments and seminars

Following the latest government advice on health and safety, during the current COVID-19 situation LGIAsuper is not offering in-person meetings or a walk-in counter service at our Brisbane office. Instead, all meetings will proceed using telephone or video conferencing. We are contacting everyone with scheduled in-person meetings to discuss alternative arrangements.

Get Set for Retirement seminars – now available online
LGIAsuper’s Get Set for Retirement seminars will not be offered in-person for the near future. Instead, they are now available to view online, featuring presentations from our Advice Manager and Chief Investment Officer.

Watch our Get Set for Retirement seminar videos

Updated 8 April 2020


Temporarily not accepting cheques

During the current situation we are not able to accept cheques in the post. This is just a temporary change during the COVID-19 pandemic as we are not able to guarantee our processing times.

Contributions can be made using BPAY, either through online banking or by calling your bank. We have BPAY options for both personal and spouse contributions.

To make a BPAY payment you will need your unique reference number and LGIAsuper's BPAY biller code. You can access this information by logging in to your account – from the navigation bar click Add to my super, then click Additional contributions. On this next page, click your account number and your BPAY details will be displayed. 

If you do not have access to the internet you can call us on 1800 444 396 for these details. Please be aware that we are currently experiencing long call waiting times.

Updated 8 April 2020


Staying open and operational

All areas of LGIAsuper are open and fully operational. We continue to adapt well to the government's social and workplace restrictions, and all our staff are already working remotely.

In recent weeks we have successfully prepared and tested our remote working capabilities. All our teams are fully connected, equipped and able to work from home for the foreseeable future, as needed. This has been a smooth transition with no disruption to our business.

Our team continues to work well together to deliver the best possible service to our members.

Updated 2 April 2020


Online services to help you

We are currently experiencing high demand for telephone support, with long call waiting times.

Many requests can be done quickly and easily online. During this time you can access information on our website, or log in to your account to make requests and changes. You can view or update your superannuation online at any time, but we do urge you not to make any rushed decisions.

You can also request for us to contact you – enter your details at lgiasuper.com.au/contact and one of our team will respond as soon as possible.

Whilst we have expanded the capacity of our Contact Centre team, if you are able to complete your task or request online that would help us respond to everyone as quickly as possible.

Secure document upload
Some of our forms are PDF documents, which can be downloaded from our website or Member Online.

The most secure way to send us a scanned copy of a completed form is to upload it at lgiasuper.com.au/contact, where you can enter your details and attach your file. This secure upload option is preferred, but you can also email documents to info@lgiasuper.com.au.

Updated 24 March 2020

 


Page first published 19 March 2020