RBF Tasmanian Accumulation Scheme members include RBF Investment Account holders, RBF Account Based Pensioners and RBF Term Allocated Pensioners.

• your account balance will not be affected by the transfer to Tasplan
• your funds are safe

• there will be no loss of these entitlements
• Treasury and Tasplan are currently putting in place new processes to make sure continuity of entitlements will be administered

• between now and March 2017, nothing will change
• you will be informed if there are changes to your insurance arrangements because of the transfer to Tasplan

• my insurance - there will be no changes to your insurance other than normal premium changes and reviews
• fees - there will be no changes to fees
• my investments - you will continue to access RBF’s Member Investment Choice options
• services - RBF is committed to maintaining service levels leading up to the transition

• my insurance - your insurance cover will transfer to Tasplan with broadly similar features
• fees - Tasplan and RBF are working on the new fee structure
• costs - you will not incur a buy-sell spread on transfer; your account balance will remain the same
• my investments - you will be transferred to a comparable Tasplan investment option
• contributions - your employer will automatically start paying your contributions to Tasplan. If you work outside the Tasmanian public sector, your employer can pay your Superannuation Guarantee to Tasplan too - you can then maintain a fund for life, irrespective of where you work
• services - Tasplan offers a Hobart-based phone enquiry centre, face to face member and employer services across Tasmania, including a new office in Devonport, and an administration team in Hobart. Tasplan also offers financial planning services to members through Quadrant First.

• RBF will send you a Significant Event Notice before the transfer to inform you of changes and the temporary transaction suspension period
• Tasplan will send you a Welcome Letter and Product Disclosure Statement after the transfer
• RBF and Tasplan will support your employer during the transition

• you will continue to have two accounts in the short term and will be notified if accounts are able to be consolidated at a later date

• RBF has received confirmation from the Australian Taxation Office that these changes will not trigger the application of the new deeming rules for existing RBF Account Based Pensioners who are currently exempt from the new deeming rules which came into effect on 1 January 2015

• a Successor Fund Transfer (SFT) is the legal process of automatically transferring member accounts and investments from one fund to another
• the RBF and Tasplan Boards need to be satisfied that the transfer is in their respective members’ best interests, in order to make this decision on behalf of their members
• the RBF and Tasplan Boards also need to be satisfied that their respective memberships will, on balance, receive equivalent rights once the transfer is complete
• equivalent rights means that the bundle of rights is equivalent; that is, as an overall package, RBF members’ rights and benefits in Tasplan must be at least as good as or better than their rights currently. It doesn’t mean the rights and benefits in Tasplan have to be exactly the same as before
• if the transfer cannot provide equivalent rights, then it will not go ahead

RBF defined benefit scheme members include Contributory Scheme members (and Contributory Scheme Life Pensioners), State Fire Commission Superannuation Scheme members, Tasmanian Ambulance Service Superannuation Scheme members, Parliamentary Superannuation Fund members and Parliamentary Retiring Benefits Fund members.

RBF and Treasury are working closely together to make the transition as seamless as possible for you.

• fiduciary responsibility for the RBF defined benefit schemes will transfer to the Superannuation Commission on 1 April 2017. The RBF Board will continue to be responsible until that time
• the State Government is currently tendering for the provision of member administration and investment management services
• if you are a defined benefit member and you also have an account in the Tasmanian Accumulation Scheme, then your accumulation account will transfer to Tasplan

• RBF will still be here as the defined benefits fund providing you with face to face interactions and one-on-one support
• the RBF Enquiry Line 1800 622 631 and RBF website www.rbf.com.au stay the same
• your entitlements and the way your benefits are calculated will not change
• there will be no change to your RBF Life Pension - the reforms do not impact payment of your fortnightly pension
• the RBF office in Hobart will remain at 21 Kirksway Place. Launceston services will also continue, and we will be moving to a more suitable location in March 2017, at Henty House, 91-97 Charles Street, Launceston

RBF defined benefits members will continue to receive the same service levels.

• the Superannuation Commission will have fiduciary responsibility for, and oversee the administration of, the RBF defined benefit schemes from 1 April 2017
• it is equivalent to a trustee and will consist of a Chair and up to two more Commissioners
• on 25 October 2016, the Treasurer announced the appointment of Ms Kerry Adby as Chair of the Superannuation Commission. Further information about the appointment is available from the Premier’s website - please click here
• On 16 February 2016, it was announced that Ms Leigh Mackey and Mr Chris Bevan were appointed as Commissioners within the Superannuation Commission
• the day to day running of the defined benefit schemes will be managed by the Office of the Superannuation Commission, within the Department of Treasury and Finance
• Mr Adrian Christian has been appointed Director of the Office of the Superannuation Commission
• recruitment to positions in the Office of the Superannuation Commission has begun

The Public Sector Superannuation Reform Act 2016 received Royal Assent in June 2016 and:

• allows for the RBF Tasmanian Accumulation Scheme to be transferred to Tasplan;
• provides for responsibility for the RBF defined benefits schemes to be transferred to a Superannuation Commission established under the legislation; and
• makes no change to the entitlements of the members of the RBF defined benefit schemes

Yes, Quadrant transferred to Tasplan under Successor Fund Transfer arrangements and the two funds have been operating as one entity since November 2015.