SPEC Super - generating wealth An Industry SuperFund

Purpose of this policy

Protecting your personal information has always been important to SPEC Super and is required by law. SPEC Super handles your personal information in accordance with the provisions of the Commonwealth Privacy Act 1988 and a set of National Privacy Principles.

 

SPEC Super only collects information that is necessary to administer your account membership. By this we mean managing your account and keeping you up to date with opportunities available to you as a Fund member.

 

SPEC Super has outsourced the administration of the Fund to the Fund's administrator, Independent Fund Administrators & Advisers Pty Ltd ABN 28 081 966 243. This includes all information processing, record keeping and claims management. The administrator implements SPEC Super's privacy policy, and has adopted data security procedures and staff training programmes to comply with the policy. SPEC Super has appointed a life insurer and other organisations to provide services to you on our behalf.

 

They are authorised to use your personal information only to administer fund membership, under the strictest confidence. Personal information will not be used or disclosed for any other purpose without your consent, except where allowed or required by law. For example, SPEC Super's fund administrator is required to report certain information to the Australian Taxation Office for tax related purposes.

 

Personal information that we hold and why we collect it

The information SPEC Super keeps about you includes your name and contact details, tax file number, gender, date of birth, occupation, name of employer, and names of preferred beneficiaries. This information is needed to administer your superannuation account - admitting you as a member, accepting contributions, investing in accordance with your chosen investment option(s), providing insurance cover where required, communicating with you about your benefits and paying benefits to you, another fund or beneficiaries etc. The administrator collects, processes and retains this information on behalf of SPEC Super.

 

Additional information may be collected from medical practitioners or from your employer for the purpose of assessing eligibility for insurance cover or for the assessment of a claim. We would only seek such information with your consent. In these circumstances both personal and health information may be disclosed to third parties including: the Fund's administrator, insurer, medical assessors, or in the case of a dispute about the provision or application of cover, legal advisers, health practitioners, the Superannuation Complaints Tribunal and the courts. Disclosure to these organisations is solely for the purpose of determining an insurance application or claim. Without your consent to the collection, use and disclosure of this health information we will not be able to process the insurance application or assess the claim.

 

Privacy Policy

SPEC Super respects your privacy.

 

In the event that you wish to have another party act on your behalf and receive information, such authorisation will be required in writing.

 

You are asked to advise SPEC Super of the names of the persons who you would like to receive your superannuation in the event of your death. This information assists the Trustee to distribute your Death benefit fairly to your dependants or to your estate. The Trustee will always take your wishes into account, but may also look at all your dependants at the date of your death, unless you have made a valid "binding nomination of beneficiaries", in which case SPEC Super is bound to follow your nomination. Advising SPEC Super about your relationship with the persons you nominate is not required if you consider this to be an unreasonably intrusive request.