Information for external financial advisers

To assist you in providing the best service, we have created this resource where you can get the information you need to support your RBF clients.

How do I obtain information about my RBF client?

• Many RBF members have more than one account and may not be aware of this;
• Information will only be provided to external financial advisers who hold a current Letter of Authority from the member. Simply contact the RBF Enquiry Line on 1800 622 631;
  
• Our Superannuation Consultants are available to answer the more complex questions about RBF super - simply contact 1800 622 631 to arrange a call back from one of our local specialists or an appointment.

Want information on RBF's products and schemes? Read on.

What do I need to know about the Contributory Scheme?

Questions to ask about the Contributory Scheme:

• What options does an RBF member have? Members usually have multiple benefit options at retirement and redundancy.
• What is the lump sum balance?
• What is the pension value?
• What are the tax components?
• Is there a reversionary pension option and what is the value?
• What is a Contributory Scheme Compulsory Preservation Account (CPA​) - how does it work?

More information on the Contributory Scheme:

• For information on the Contributory Scheme, please read the Contributory Scheme: Member Booklet and associated Fact sheets;
• For information on insurance in the Contributory Scheme, please read the Contributory Scheme - Death and Incapacity cover brochure;
• You can obtain benefit projections by making an appointment with an RBF Superannuation Consultant. Benefit projections include:
• comparing benefit estimates based on different contribution rates including salary sacrifice;
• resignation options and benefits;
• redundancy and ill health support; and
• net benefit information.
• RBF Superannuation Consultants can also assist with more complex questions about the Contributory Scheme such as changes to salary, going part-time, purchase of service, and other options under the regulations and how these affect a members end benefit;
• For information on receipt of death benefits, please read the Who will receive my Death benefit brochure. RBF death benefits are paid to a surviving partner or registered carer, unless the member has elected to have all or part of their death benefit paid to their estate. If there is no surviving partner, the benefit is payable to their estate;
• members can work part-time without impacting their Final Average Salary. The member's Final Average Salary is calculated using a full-time equivalent salary; and
• Contributory Scheme benefits have flexibility at retirement - generally members can take a Contributory Scheme Life Pension, keep a balance in a complying super fund of their choice or a combination of these options.

Still have questions about the Contributory Scheme? Please contact the RBF Enquiry Line on 1800 622 631.

What do I need to know about an RBF Life Pension?

• Contributory Scheme members, and certain former RBF Tasmanian Accumulation Scheme members who hold a Life Pension Entitlement, can purchase an RBF Life Pension;
• The conversion factors (used to determine the annual value of RBF Life Pensions) and the taxation are dependent on whether it is purchased using funds from a non RBF Scheme or from the Contributory Scheme;
• Members have the option of reversionary and non-reversionary RBF Life Pensions;
• Note: RBF Life Pension options available to members who joined the Contributory Scheme prior to 1 July 1994 may revert to a surviving spouse upon a member's death, and use the favourable pension conversion factor of 12;
• All payments for RBF Life Pensions are fortnightly and indexed twice yearly in line with inflation;
• No fees are applicable on RBF Life Pensions;
• There is no option to commute an RBF Life Pension into a lump sum once it has commenced;
• For more information including taxation of RBF Life Pensions, please read the Contributory Scheme Life Pension fact sheet for Contributory Scheme members; and
• For information on the factors used to determine the annual value of the member's RBF Life Pension, please read the RBF Life Pension conversion factors fact sheet.

Member education and information

The MemberAccess website provides members with access to their account details, 24 hours, seven days a week;

Members can also:

• update their contact details;
• view past Member Benefit Statements; and
• check their death benefit nomination.

Our services

RBF's dedicated Superannuation Consultants offer members personalised service to help understand their super. Face-to-face appointments are available around Tasmania at our Hobart, Launceston, Burnie and Devonport offices (between 9am and 5pm).  Please contact the RBF Enquiry Line on 1800 622 631 to book an appointment.

We encourage our members to book an appointment before retirement to ensure they have all the correct information prior to making a decision.

RBF's Employer Support and Education Officer can also provide education sessions and presentations for members of all ages at members' workplaces.

To see a full list of our forms and publications, click here or contact the RBF Enquiry Line on 1800 622 631. The RBF Enquiry Line is available between 8am and 7pm, Monday to Friday (except public holidays).

Important information: Every care has been taken with the information contained on this web page. However, the Superannuation Commission reserves the right to correct any errors or omissions. If there is a discrepancy between the information in this document and RBF's governing legislation or other legislation, that legislation will be the final authority. The information on this web page is subject to change and may be updated by us from time to time.

Issued by the Superannuation Commission (ABN 96 573 090 182​) as trustee of the Retirement Benefits Fund (ABN 51 737 334 954).