Changes to insurance within super

On 1 July 2019, the Government’s ‘Protecting Your Super’ legislation commenced. These changes were designed to protect peoples’ superannuation and related to insurance cover, fees and lost super accounts.

On 1 April 2020, the next round of reforms will start. Called ‘Putting Members’ Interests First’ (PMIF), these are designed to prevent small account balances from being unnecessarily reduced by insurance premiums.

This means that from 1 April 2020, super funds can no longer provide default insurance to new members who are under age 25 or to members with a ‘low balance’. A member is considered to have a low balance if, from 1 November 2019, their account balance has never reached $6,000.

To find out if you’re affected, please visit

Here you will find an online questionnaire that reveals how the new legislation affects your insurance cover and, if appropriate, what you need to do to keep your insurance cover.