This information was last updated 5:08pm AEST 31 March 2020.
We're committed to protecting our staff, our members, and our community. Energy Super, like a number of businesses, is taking steps to protect the health and wellbeing of our members and our employees as we face the impact of COVID-19.
We’re keeping a close eye on all developments and planning ahead to minimise any disruption to our service delivery to members and employer groups.
We’ll keep this page up to date as new information becomes available.
Managing your investments
We’ve been emailing our members with updates and have posted information on our website, including our CEO message which includes our latest video from our Chief Investment Officer. If you haven’t already, it’s a good idea to make sure we have your email address so we can keep you in the loop with investment and Fund news. You can do this yourself on the Member Portal. Log in or register here.
If you're retired and concerned about your investment, read our tips for retirees.
You can also read our article on why timing the market isn't a super idea.
Processing your transactions
Early release of superannuation
On 22 March 2020 the Federal Government made several announcements that may impact your super.
From mid-April 2020, eligible individuals in financial stress as a result of COVID-19 can access up to $10,000 of their super in 2019–20 and a further $10,000 in 2020–21.
Members will need to apply via myGov – not via their super fund – from mid-April 2020. Please note applications cannot be made until that time.
Find out how it will work in our FAQs here.
There's more information in the Australian Government fact sheet here.
Temporary reduction in minimum drawdown rates
In another super-related Federal Government announcement on 22 March 2020, the Government stated it would temporarily reduce minimum drawdown requirements for account-based pensions and similar products by 50 per cent for 2019–20 and 2020–21.
The details are outlined in the Australian Government fact sheet here.
Please be aware that Energy Super has already paid monthly payments for March and you would have received these amounts or will do so shortly.
Fortnightly payments are not due until the end of the month and we are working on all the necessary steps to implement the announced measure to ensure you can take advantage of this change.
Shortly we’ll provide you with further details on how we will make the changes.
Your Energy Super account
In case of postal delays or interruptions during this period, we encourage you to submit forms electronically.
The fastest and easiest way to manage your investment is through the Member Portal. When you log in, you can:
- See your current account balance and earnings
- Update your personal details, including your email address
- View or switch your investment options
- Change details of who will receive your super benefits in the event of your death
- Change your income stream payment frequency or amount
- Make a partial withdrawal from your income stream account.
If you haven’t already, you can register for the Member Portal here.
There have been reports of an overall increase in scams as a result of anxiety around COVID-19. Please note that Energy Super will never email or text message you requesting personal information, financial information or a payment.
If you’re not sure if an email, text message or phone call is legitimate, please delete it immediately or hang up the phone.
If you think you may have sent personal or financial information to a scam email address or entered it into a scam website, or if you’re worried that your identity may have been stolen please call or email us. Please note we’re currently experiencing an increase in call volumes, so we thank you in advance for your patience.
Managing events and appointments
As further social distancing restriction have been introduced we’ve decided to move our seminar program online. We’re currently putting together our new webinar series. We’ll update upcoming webinars on Our Events page
If you have an appointment with one of our team, we can offer you a video or phone appointment instead. Again, if you already have an appointment booked we’ll have contacted you to discuss your preference.
Protecting our staff and keeping the business going
Keeping our staff and the business operational during this time is a priority. We’re committed to protecting the business from significant disruption to our operations, and we have initiated our business continuity program. This includes all but a few staff working from home.
We’ll keep you updated if there is a change.
Protecting our members
To help prevent the risk of infection, we’re asking our members to refrain from coming into any of our offices at this time in accordance with the Governments social distancing measures.
If you’re considered to be in one of the high-risk categories of persons susceptible to infection or you’ve been overseas in the past 14 days there’s plenty of helpful information on the Australian Government and Queensland Government websites. If you prefer to call, the Coronavirus Health Information Line operates 24 hours a day, seven days a week on 1800 020 080.
If you have insurance cover through Energy Super and you're concerned about the mental wellbeing of you or a family member, our Energy Care program may be able to help you. See the information on this website or contact us to find out more.
Many of you have Income Protection insurance through Energy Super. If this is you, this is the situation regarding Income Protection (IP) insurance and COVID-19:
- If you’re infected with COVID-19 and are medically deemed unfit to work by a doctor, you can make a claim. Your IP benefits begin once your Waiting Period has ended. Other standard eligibility criteria applies.
- If you contracted COVID-19 while travelling overseas, you’re covered as the policy covers you 24/7 worldwide. Other standard eligibility criteria applies. Your IP cover will pay you for a maximum of 12 weeks while you’re overseas. After that time, you might be required to return to Australia to continue to receive IP payments.
- If you’re forced to isolate, don’t have COVID-19, and are not medically deemed unfit to work by a doctor, no benefits are payable.
- If you’re forced to isolate and then become unwell, the isolation period does not count towards your Waiting Period. Your Waiting Period commences from the date you are deemed Totally or Partially Disabled.
Refer to the Insurance Guide for further details, including eligibility criteria.
Contacting Energy Super
Nothing much has changed: our staff are ready to help you with your Energy Super account during normal hours via phone or email. We can also arrange face to face meetings via Zoom for you as appropriate.
If you call us, please be patient as we’re experiencing higher than normal call volumes. We encourage you to use our website for information, email us or log into the Member Portal. If you haven’t already registered, you can register for the Member Portal here.