What is a sub-plan and why are you transferring me to a new one?
A sub-plan is a segment of a superannuation fund that has separate assets, beneficiaries, and costs to the other sub-plans within the super fund, among other characteristics.
Spaceship Super is transferring to a new sub-plan because it will bring strong member outcomes including lower overall fees. You can read more about successor fund transfers and how they work here.
Will I be charged fees during the transfer period?
You will be charged fees during the transfer period, as your benefits will remain invested and your account will continue to be subject to investment performance returns.
However, the fees and costs for Spaceship Super are changing after the transfer (which occurs on 17 May 2024), so from 18 May 2024 you will be charged reduced fees and costs. You can read more about these here.
Why are you unable to process transactions during the transfer period?
In order to transfer member and account data to the new administration system, and to allow time to establish your account data on the system, there needs to be a period where no new data is entering the system. This is why we're unable to process transactions during the transfer period.
What will happen if my employer makes a contribution using the existing/old USI after the transfer has taken place?
We will be unable to process these contributions and they'll be returned to your employer. You will need to provide your employer with the new USI (43905581638020) for all contributions received from 18 May 2024.
We will write to you after 10 May 2024 to remind you of this and provide you with a new employer contribution form.
What is a Successor Fund Transfer?
A Successor Fund Transfer is the direct transfer of a super fund's members (and their respective assets) to an alternate super fund (the successor fund), on the basis that the member will have "equivalent rights". The transfer will be completed by the trustee (Diversa Trustees Limited) on behalf of Spaceship Super members. The trustee is required by legislation to ensure that members’ rights in the receiving fund are generally the same or similar, and to consider whether this transfer will be in the members’ best financial interests.
Did Spaceship Super members receive a notice in respect of the transfer?
Yes, a Significant Event Notice (SEN) was distributed to Spaceship Super members to inform them of the transfer on 15 April 2024. A copy of the SEN can be found on your member portal when you log into your account or you can read the SEN here.
Will new member applications be accepted during the transfer period?
No, new member applications will not be accepted during the transfer period.
Can I choose not to transfer my account with the transfer?
Yes. If you do not wish for your Spaceship Super account to be part of the transfer to the new fund, ‘OneSuper’ (ABN 43 905 581 638), you need to roll out of Spaceship Super to a new super fund of your choice or withdraw your super (subject to eligibility). Rollover out or withdrawal instructions must be received by 5pm AEST on 10 May 2024. Before rolling out, you may want to consult a financial adviser.
If no instructions are received by 5pm AEST on 10 May 2024, your account will be included in the transfer and a new account in OneSuper will automatically be created for you.
Will I still be able to make contributions to my Spaceship Super account?
Yes, you will be able to make contributions, however the process is changing. From 18 May 2024, you'll need to make personal contributions via BPAY.
Please log into your Spaceship Super account (from 3 June 2024) to obtain your unique BPAY customer reference number, which can be found within the Spaceship mobile and web apps.
Any existing personal contribution arrangements you’ve set up won't be accepted after 17 May 2024.
Will my account balance change?
Your benefits will remain invested and your account will continue to be subject to investment performance returns and fees during the transfer period. As such, your account balance may change.
Will my super be taxed because of the Successor Fund Transfer?
No. Your balance will be transferred as a rollover into the OneSuper sub-fund and not incur a tax liability.
Spaceship Capital Limited is the promoter of Spaceship Super. Spaceship Super is issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153, RSEL L0000635) as trustee of the Tidswell Master Superannuation Plan (ABN 34 300 938 877) (Fund). Spaceship Super is a sub-plan of the Fund.
The information on this website is general in nature as it has been prepared without taking account of your objectives, financial situation or needs. You should consider the Product Disclosure Statement and/or Reference Guide, along with the Target Market Determination, and obtain appropriate financial and taxation advice, before deciding whether Spaceship is right for you.
All investment products have an element of risk. As share markets go up and down, so too can the value of your investment. Please consider the risks involved before you jump on board.