19 September 2022 will see the next chapter of our fund’s merger journey, with Energy Super’s member systems being moved into Brighter Super.
This transition is part of our continued commitment to deliver benefits and cost savings to you. It will unify the two funds and provide continued efficiencies and advantages for members, though there will be some short-term disruptions that you need to know about.
The transition will create some unavoidable outages while our systems are merged. While we aim to keep this to a minimum, we will have to temporarily suspend account processing between Thursday 15 September 2022 and Sunday 25 September 2022.
Read the booklet we recently sent to members, which outlines the disruptions and key dates.
The information in the booklet is relevant to all Brighter Super account holders. We would appreciate you taking time to read it carefully to help you understand what is changing, what it may mean for you and key dates you need to know.
Friday 9 September 2022
Deadline for us to receive account requests to ensure we can process them before the temporary suspension period.
Wednesday 14 September 2022
Processing of online investment switch requests temporarily suspended at 5.00pm AEST. Forms can continue to be received and will be processed from Monday 26 September.
Thursday 15 September 2022
Processing of account requests suspended. Includes lump sum payments, insurance claims, contributions, and new Pension account applications.
Monday 19 September 2022
Member Online and the Brighter Super mobile app in read-only mode until Thursday 22 September.
Thursday 22 September 2022
Member Online and the Brighter Super mobile app will be back to full functionality.
Monday 26 September 2022
Processing of account requests resumes, however times may be longer than usual due to the backlog.
We will not be processing benefit payments between Thursday 15 September 2022 and Sunday 25 September 2022.
If you are eligible to access your super and need a lump sum withdrawal processed before the suspension period, we must receive the request by 5.00 pm on Friday 9 September 2022. Members with Pension accounts will still receive their regular scheduled payment prior to the suspension period.
We will not be processing any investment switch requests after 5.00 pm on Wednesday 14 September 2022.
You can still submit an investment switch form during the suspension period, but the switch request will not be processed until Monday 26 September 2022 onwards.
When investment switch processing re-commences, we will use the unit price relevant to the date your form request was received. The only exception to this is switch requests received on Thursday 15 September 2022, which will be processed with the unit price effective Friday 16 September 2022. From Monday 19 September 2022 a switch request must be received by 3.00 pm AEST to be considered as being received on that business day.
From Monday 19 September 2022, investment switches must be received by 3.00 pm AEST on a business day (Monday to Friday, excluding national public holidays) to be processed with the unit price effective that same business day.
Investment switch requests received after 3.00 pm will be considered to be received the next business day and processed with the unit price effective that day. Before Monday 19 September 2022, the cut-off time was 5.00 pm.
Yes, your balance will remain invested during the suspension period.
There will some impacts to both Member Online and the Brighter Super mobile app. At 12.00pm AEST on Monday 19 September 2022, most functions in both Member Online and the app will become ‘read only’. This includes not being able to make investment switches, request changes to regular pension payment amounts or frequency, request to roll in money from another super fund, or update your personal details.
You will be able to request benefit payments (although these won’t be processed until after Monday 26 September 2022) and make changes to your insurance arrangements.
Member Online and the app will be back to full functionality on Thursday 22 September 2022. The ability to request an investment switch online will be available from 5.00 pm AEST on Thursday 22 September 2022.
Yes, members are welcome to submit requests by form. Brighter Super forms are available at brightersuper.com.au/forms.
Processing of forms will resume from Monday 26 September 2022, and we will action any requests received during the suspension period from this date.
Your Brighter Super and Energy Super accounts will not be consolidated to ensure that you don’t lose any benefits with either account.
Energy Super account holders will be sent a new member number which will link your Brighter Super and Energy Super accounts, making it easier for you to access them both online. If you want to consolidate your accounts, please contact us.
No. There are no changes to fees and costs at this time.
There will be no benefit payment processing between Thursday 15 September 2002 and Sunday 25 September 2022.
If you need a lump sum withdrawal processed before the suspension period, we must receive the request by 5.00 pm AEST on Friday 9 September 2022.
At 12.00pm AEST on Monday 19 September 2022, most functions in both Member Online and the app will become ‘read only’. This includes not being able to make request changes to regular pension payment amounts or frequency. However, you can make this request during this period by completing the Brighter Super Pension update form, which is available at brightersuper.com.au/forms. Alternatively, you can make the changes in Brighter Super Member Online from Thursday 22 September 2022.
We will not be opening new Pension accounts during the suspension period. However, you can complete a Brighter Super Pension application form, which is available at brightersuper.com.au/forms. We will process your application from Monday 26 September 2022.
The Retirement Reward is a tax benefit we pass on to you when you retire.
From 19 September 2022, Brighter Super is introducing the Retirement Reward for members who open a new Brighter Super Pension account.
The Retirement Reward is a tax benefit that we pass onto you when you retire.
It’s a monetary reward that pays you the portion of tax we’ve set aside for when growth assets (like shares) are sold. When you move your Accumulation account or Transition to Retirement Pension account to a Pension account, your balance is transferred to a tax-free environment. This means the portion of tax we’ve set aside can be passed onto you.
The Retirement Reward is paid into your Pension account. For any new Brighter Super Pension accounts opened the amount of the Retirement Reward will be calculated and applied to your account after the end of the financial year during which you open your pension account.
So, for example, if you open a Brighter Super Pension account in November 2022, you will receive the Retirement Reward after 30 June 2023.
You can find more information about the Retirement Reward at brightersuper.com.au/retirement-reward.
The Consumer Price Index (CPI) is calculated by the Australian Bureau of Statistics and is defined by them as 'a measure of the average change over time in the prices paid by households for a fixed basket of goods and services. In Australia, the CPI measures the changes in the price of a fixed basket of goods and services, acquired by household consumers who are resident in the eight State/Territory capital cities.' It is used to monitor and evaluate levels of inflation in the Australian economy.
Automatically increasing pension payments each year inline with CPI is a product feature designed to help ensure regular pension payments keep pace with the general cost of goods and services.