FAQ's
What can Capital Partners Corporate Benefits Consulting assist me with?
As a member of the Plan, Capital Partners Corporate Benefits Consulting can assist you with any matter relating to your membership of the plan in areas such as:
• Consolidating your previous superannuation funds.
• Nominating beneficiaries on your superannuation plan.
• Reviewing and implementing your insurance requirements.
• Updating your account details (ie: change of name, change of address).
• Assisting to ensure your investment and risk requirements are met.
If you require any assistance in relation to your plan membership please do not hesitate to contact us.
Who should I contact if I would like to commence salary sacrificing into my superannuation?
To set up a salary sacrifice arrangement into your superannuation, you will need to contact your head of payroll and they can set this process up for you.
If you would like some advice on salary sacrificing and whether this strategy is right for you, then please feel free to contact Capital Partners and we can assist you in this regard.
What is the difference between a ‘Binding' and a ‘Non Binding' nomination?
In the case of a ‘Binding' nomination, the nomination is binding on the Trustee subject to any contrary court order. This nomination ensures that your account balance is paid as you have directed, as long as your nomination is and remains valid. This nomination stands even when your personal circumstances change such as getting married, having children, or any other life changing event. In view of this, when making a ‘Binding' nomination it is very important to regularly review and update your nomination to ensure it reflects your current personal circumstances.
In the case of a ‘Non Binding' or ‘Discretionary' nomination, the trustee will decide who receives your account balance while taking into account your preferred beneficiaries as nominated. In each case, the trustee will use a formal process to make its decision. It will take into account such things as identifying any potential beneficiaries (ie: children) and communicating with them. The trustee will then give careful consideration to what it believes is an appropriate distribution of the account balance, however will still pay particular regard to your recorded preferences.
What is Life Insurance Cover and when does it pay?
Life insurance (sometimes referred to as Death cover) pays a lump sum amount to your Estate ,or your nominated beneficiaries, in the event of your Death.
What is Total & Permanent Disablement Cover (TPD) and when does it pay?
TPD cover is a lump sum benefit paid in the event that, due to illness or accident, you are totally and permanently disabled. The formal definition of total and permanent disablement may vary between insurer's therefore it is recommended that for a more thorough definition you contact Capital Partners.
What is Income Protection/Salary Continuance cover and when does it pay?
Income Protection or Salary Continuance insurance benefit provides a monthly income based on 75% of your base salary in the event that you are unable to work due to illness or injury. The injury or illness can occur either at work, at home or even abroad and provides coverage 24 hours per day, 7 days per week. Please note income protection and salary continuance does not pay out in the event of your death. Please note that there are varying options when taking out salary continuance or income protection cover in respect of benefit periods and waiting periods. Keeping this in mind, if you would like some more information on this type of cover then please contact Capital Partners.
Is there any fees involved when seeking assistance from Capital Partners Corporate Benefits Consulting?
In the vast majority of cases there will be no fee or charges when seeking assistance from Capital Partners regarding your superannuation including consolidation, amending your portfolio, nominating beneficiaries or increasing your insurance.
In the event that you require a more complex or detailed service any fees or charges would be clearly outlined to you prior to any work commencing in order that you can make an informed decision.
How do I provide my Tax File Number?
Please note that you will need to provide your Tax File Number to Payroll when you commence employment. Failure to do so will result in additional tax being deducted from your superannuation fund.
How do I arrange online access to my superannuation funds?
Please note that Capital Partners is unable to establish online access to your account on your behalf. You will need to contact your superannuation fund manager directly to establish this access. If you are unsure how to contact your superannuation fund directly, please call Capital Partners and we can provide you with the contact details.
