MyNorth Super helps you to save and grow your super so that you can retire right. It offers a diverse range of investment options,favourable tax treatment on contributions and earnings, fee aggregation, a regular savings plan facility and much more. When you’re ready to retire, you can transfer your savings to a MyNorth Pension account.

Superannuation is a long-term investment designed for retirement. Super provides tax advantages when compared to some other forms of saving for your retirement. An allocated pension is a tax-effective way of drawing an income in your retirement and an NCAP may assist you to transition from work to retirement in a tax-effective manner

Annual statement

Every year on or around your account anniversary we'll send you an annual statement via the online Statements & correspondence section on North Online, which will include:

• your account balance on your account anniversary 
• a statement of contributions to your account, and
• an account performance summary.

Trustee annual report

The Trustee annualreportforthe Fund with information current as at 30 June of that year will be available online at northonline.com.au/mynorth from 31 December. 

Client review report

You can run and download a client review report (a comprehensive summary report on your account) from North Online at any time. 

Benefit from multiple accounts

The grouping of accounts allows youto reduce the administration fee you pay. When accounts are grouped, their balances are combined to calculate the total portfolio value which is applied to all accounts.

Investment options

MyNorthoffers youawide range ofinvestment options to choose from, with access to its low-cost active and index funds, and an extensive list of managed funds, managed portfolios, term deposits and direct shares

Effective 1 October 2023:

MyNorth offers you the option to choose your investments from the following two A subset of managed funds investment menus:
1. Select menu – offers a range of active and index funds, diversified multi-manager investment options offering access to specialist fund managers in each asset class, term deposits and a selected range of managed portfolios.
2. Choice menu – offers an extensive list of multi-manager and single manager funds, managed portfolios, listed securities on the S&P/ASX 300 and selected Australian real estate investment trusts (AREITs), exchange traded funds (ETFs), exchange traded commodities (ETCs), listed investment companies (LICs) and listed investment trusts (LITs).

Regular savings plan

Personal, spouse and other third party contributions can be made to your super account via direct debit from your bank account fortnightly, monthly, quarterly, half-yearly or yearly. 

Cash Account

A flexible working cash accountthat allows you to specify the minimum and target amounts to be held in your cash account

Income

Income distributions, dividends and interest for each investment option where applicable will be credited to your cash account. Exceptions may apply. A dividend reinvestment plan (where available) may be nominated forlisted securities. 

Investment Switching

You can switch all or part of your portfolio between the full range of investment options available at any time. There is no limit on the number of switches you can make each year. For MyNorth Guarantees, switching restrictions may apply, please refer to your MyNorth Guarantee PDS for further information.

Investment instructions

You can arrange automatic buying and selling ofinvestment options via your cash account. You can also specify instructions to rebalance your investments. Accounts with a guarantee will have investment options sold in proportion to your current account valuation.

Payment of benefits on death

To assist with your estate planning you may nominate beneficiaries through a:

• binding death benefit nomination
• non-lapsing binding death benefit nomination
• non-binding death benefit nomination
• reversionary pension.

Your financial adviser can help you to choose the best method for your particular circumstances

Dollar cost averaging

Allows you to invest a set dollar amount into the market at regular intervals. Available only on MyNorth Super

Fast payment

We may advance payment of partial withdrawals up to 80% of your account value without awaiting sale proceeds from the investment options. Restrictions may apply

Contributions splitting 

You may elect to split your super contributions with your spouse

Insurance

For most people, insurance is an important part of any financial plan. Without insurance you and your family may not be able to continue the lifestyle that you have worked hard to achieve. MyNorth Super and Pension gives you the option of applying for insurance as a part of your account. 

Payment of benefits to an eligible rollover fund

An eligible rolloverfund (ERF) is a specialtype of superfund that can accept benefits transferred from another superfundwithout a member’s consent. Typically an ERF has a conservative investment strategy, and the administration fees charged by the fund cannot exceed the fund’s earnings. There are a number of circumstances where your benefit may be transferred to an ERF. if your account value falls below the minimum required in the MyNorth Super. Upon transfer to an ERF we will issue you with an exit statement and the ERF will write to you to advise that it has received your benefit and will provide the options available to you. We may also pay your benefit to an ERF if we lose contact with you and, after a reasonable time, we are unable to locate you. Once your benefit is transferred into an ERF, you will no longer have access to your MyNorth Super account and/or MyNorth Pension account including any guarantees you may have otherwise had access to.