Super for your spouse
We know family is important, so we’re offering your spouse some of the discounts and benefits that you get as a Wesfarmers team member
It’s important your family is well looked after.
As a Wesfarmers team member, you can help to extend the benefits and discounts that you enjoy with your Mercer Tailored Super plan to your spouse, to ensure you are both set up for retirement.
Here are some of your spouse's benefits:
Discounted fees
We’ve reduced our standard fees, below many major competitors.1 Fees on our default Mercer SmartPath® investment options are approximatively 13% below the MySuper market average.2 See AppleCheck super comparison tool below.
Mercer SmartPath® delivered 7.5% p.a. over seven years for one of our largest cohort of members, outperforming the comparative industry median of 6.5%.3
Your spouse can easily consolidate any or all other super accounts they may have to their Mercer Tailored Super plan, and avoid paying multiple fees.
Your spouse can get top-rated insurance cover tailored to their needs, if eligible. They will need to complete a health questionnaire.#
Complimentary access for members and their families to Care & Living with Mercer, an aged care support service.
Even if you leave Wesfarmers, you and your spouse can still stay in the plan, taking advantage of all the same benefits, such as the Wesfarmers discounted fee for the account based pension in retirement.
Three steps for setting up your spouse’s account:
1. Complete the application form
To apply, complete the Application and rollover form with your spouse and return to: Mercer Super Trust, GPO Box 4303, Melbourne, VIC, 3001.
2. Make a minimum contribution
A minimum contribution amount of $1,000 is required to open an account for your spouse as a ‘Retained Benefits and Spouse’ member in the Mercer Tailored Super plan.
- This must include a first Spouse Contribution made (by you) on any amount between $1 to $1,000. . To make a Spouse Contribution, please complete the Spouse contribution form, then send all your documents to: Mercer Super Trust, GPO Box 4303, Melbourne, VIC, 3001
- Any remaining balance, required to make up the minimum contribution amount ($1,000), may be transferred from other approved super funds belonging to your spouse (see ‘How to open an account’ section of the Product Disclosure Statement for more information).
3.Grow your spouse account
Your spouse’s account can receive the following types of contributions:
- Employer contributions: If your spouse is working, get them to fill out the Mercer Super Choice form and return it to their employer so their future super contributions go into their new account.
- Personal contributions: once the minimum $1000 contribution has been made to Mercer Tailored Super behalf, Your spouse can then make contributions at any time. Learn more about Contributions.
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What will happen with your spouse’s money?When your spouse joins, their super will be invested in Mercer SmartPath, which is the default investment option within the Mercer Tailored Super. SmartPath looks at your life stage and then gives you the most suitable investments. We call this a ‘whole of life’ approach. So, when you’re younger, your super is invested in ways designed to help it grow – like shares. Over time and when retirement is on the horizon, your investments will change to protect you against market ups and down – for example, you’ll more likely invest in options like cash and term deposits. |
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Comprehensive, competitive insurance cover#Your spouse will need to provide evidence of good health before any insurance cover can start. Your spouse can then be provided with insurance cover for Death (including Terminal Illness) and Total and Permanent Disablement (TPD). |
Compare us with other super funds
Compare our investment returns, fees, insurance and member services with over 200 other super funds on an ‘apples with apples’ basis using AppleCheck – a free super comparison tool managed by leading research firm Chant West.
Disclaimer:
1. Compared to the fees charged in the Individual Section of the Mercer SmartSuper Plan in the Mercer Super Trust.For full fees and charges see the Product Disclosure Statement (PDS) and ‘Your fees and benefits’ booklet you received when you joined the plan.
2. Chant West MySuper Default Fee Tables June 2023 – for $50,000 account balance. Fees are for Mercer SmartSuper – SmartPath® (our MySuper product) at 1 April 2023 and the total includes administration, investment and transaction fees. Chant West uses our 1964-1968 investment option for purposes of comparison with other MySuper funds – as this is the highest annual fee for our SmartPath options. You may pay less than this if you are in another SmartPath option or in an employer plan. For details on fees for each of our SmartPath options, or if you’ve chosen your own investment option/s, go to the ‘ How Your Super Works’ Guide online. Fees and costs can vary from year to year. Past fees and costs are not a reliable indicator of future fees and costs. Fees and comparisons may differ for other investment options and account balances..
3. Mercer Super Trust’s analysis of Mercer SmartPath (born 1974-1978), one of the largest cohorts, after investment fees and tax, compared to the median of all default funds reported in SuperRatings Fund Crediting Rate Survey – Default Options as at 30 September 2023. Based on Mercer SmartPath membership data as at 30 September 2023. Past performance is not a reliable indicator of future performance..
#Full details on the insurance cover and eligibility offered within the Plan is in the PDS and the ‘Your Plan Details’ booklet.+ Total but Temporary Disablement cover is not available for Spouse or Retained section members. See the PDS for details.
This content has been prepared on behalf of Mercer Superannuation (Australia) Limited ABN 79 004 717 533, Australian Financial Services Licence #235906, the trustee of the Mercer Super Trust (‘Mercer Super’) ABN 19 905 422 981. Any advice is of a general nature only, and does not take into account the personal needs and circumstances of any particular individual. Prior to acting on any information, you need to take into account your own financial circumstances. The material contained in this document is based on information received in good faith from sources within the market and on our understanding of legislation and government press releases at the date of publication which we believe to be reliable and accurate. Neither Mercer nor any of its related parties accepts any responsibility for any inaccuracy. Please consider the Product Disclosure Statement, Product Guide, Insurance Guide, and Financial Services Guide at mercersuper.com.au before making a decision about the product, or seek professional advice from a licensed, or appropriately authorised financial adviser if you are unsure of what action to take. Past performance is not a reliable indicator of future performance. 'MERCER' is a registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917.
