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Product disclosure statements (PDS)

Future Saver PDS - Employer Sponsored and Personal
PDF (495 KB)
Future Saver PDS - Ambulance Officers
PDF (184 KB)
Future Saver PDS - NSW Police Officers
PDF (192 KB)
Aware Super Retirement Income
PDF (3 MB)
Aware Investment Funds
PDF (4 MB)

PDS Updates

Information in our Product Disclosure Statements, which are not materially adverse, are subject to change and may be updated from time to time. You can find the updates to current information below.

The Off Duty Cover amount is increasing

Product Disclosure Statement (PDS) reference:
PDS Aware Super Future Saver – NSW Police Officers dated 1 October 2024, page 8
PDS Aware Super Future Saver – Ambulance Officers dated 1 October 2024, page 8

Handbook reference:
Future Saver Insurance Handbook – NSW Police Officers dated 1 October 2024, page 25
Future Saver Insurance Handbook – Ambulance Officers dated 1 October 2024, page 51


Change to PDS NSW Police Officers – Death (including Terminal Illness) Off duty cover amount

On page 8 of the PDS for NSW Police Officers, the amount of off-duty death (including terminal illness) cover as at 1 July 2023 is disclosed in Table 2 as shown below:

Swipe table to view more

Cover Level of death (including terminal illness) cover Cost to you
Maximum Benefit The maximum amount of cover is $2 million. NSW Police pays the premium for this cover to Aware Super.
Death and terminal illness 

On duty: up to and including age 60 – cover is calculated as a multiple of your salary (as defined by the applicable award). The level of cover depends on your age and a service factor based on your hours of work. From age 61 – a lump sum equal to the off duty cover. Terminal illness cover ceases at age 64. Death cover ceases at age 65.

Off duty: lump sum cover of $419,3291 up to and including age 60. Cover reduces at each age band from age 61 and is nil at age 65 for death cover and nil at age 64 for terminal illness cover.

 

1 As at 7 July 2023 and will be indexed each July in line with periodic pay increases advised to us by NSW Police.

The amount of off duty death (including terminal illness) cover increased on 1 July 2024 and will increase again on 1 July 2025 and 1 July 2026. Accordingly, Table 2 has been updated as shown below:

Swipe table to view more

Cover Level of death (including terminal illness) cover Cost to you
Maximum Benefit The maximum amount of cover is $2 million. NSW Police pays the premium for this cover to Aware Super.
On duty Up to and including age 60 – cover is calculated as a multiple of your salary (as defined by the applicable award). The level of cover depends on your age and a service factor based on your hours of work. From age 61, cover is equal to the off duty cover amount for your age. Terminal illness cover ceases at age 64. Death cover ceases at age 65.
Off duty1  
Lump sum cover up to and including age 60 as at
1 July 2024 1 July 2025 1 July 2026
$436,060 $453,285 $475,541
Cover reduces at each age band from age 61 and is nil at age 65 for death cover and nil at age 64 for terminal illness cover.

 

1 The off duty cover amount may change from time to time as advised to us by NSW Police.

Change to Insurance Handbook – NSW Police Officers Death (including Terminal Illness) Off duty cover amount

The amount of off duty death (including terminal illness) cover as at 7 July 2023 is currently disclosed on page 25 of the Insurance Handbook for NSW Police Officers, as shown below:

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Age last birthday Lump sum (as at 7 July 2023)

Up to and including 60 years of age

$419,329

61 years of age

$335,461

62 years of age

$251,597

63 years of age

$167,654

64 years of age

$83,865

65 years of age

No cover

 

The amount of off duty death (including terminal illness) cover increased on 1 July 2024 and will further increase on 1 July 2025 and 1 July 2026. The amount of off duty cover from these dates are shown in the tables below:

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Age last birthday Lump sum (as at 1 July 2024) Lump sum (as at 1 July 2025) Lump sum (as at 1 July 2026)

Up to and including
60 years of age

$436,060

$453,285

$475,541

61 years of age

$348,845

$362,625

$380,430

62 years of age

$261,636

$271,971

$285,324

63 years of age

$174,343

$181,229

$190,128

64 years of age

$87,212

$90,656

$95,108

65 years of age

No cover

Change to PDS Ambulance Officers – Death (including Terminal Illness) Off duty cover amount

On page 8 of the PDS for Ambulance Officers, the amount of off duty death (including terminal illness) cover as at 1 January 2024 is disclosed in Table 2: Levels and cost of cover on page 8 as shown below: 

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Cover Level of cover Cost to you
On duty

Up to and including age 60 this is calculated as a multiple of salary.1 This multiple depends on your age at the time of the insured event. A fixed lump sum equivalent to the off duty amount applies from ages 61 to 69.

Ambulance Service of NSW pays the premium for this cover to Aware Super.
Off duty

Off duty Lump sum cover of $446,053 as at 1 July 2024 up to and including age 60. Cover reduces at each age band from age 61 and is nil at age 70.

 

1 Refer to the Insurance Handbook – Ambulance Officers for more information about the salary used to determine your sum insured

The amount of off duty death (including terminal illness) cover increased on 1 January 2025 and 1 July 2025 and will further increase on 1 July 2026. Accordingly, Table 2: Levels and cost of cover is updated as shown below:

Swipe table to view more

Cover Level of death (including terminal illness) cover Cost to you
Maximum Benefit The maximum amount of cover is $2 million. Ambulance Service of NSW pays the premium for this cover to Aware Super.
On duty Up to and including age 60 this is calculated as a multiple of salary.1 This multiple depends on your age at the time of the insured event. From age 61, cover is equal to the off duty cover amount for your age. Cover ceases at age 70.
Off duty2 Lump sum cover up to and including age 60 as at
1 January 2025 1 July 2025 1 July 2026
$507,532 $522,758 $533,213
Cover reduces every year from age 61 to age 64. From age 64 to age 69 cover remains the same, until it ceases at age 70.

 

1 Refer to the Insurance Handbook – Ambulance Officers for more information about the salary used to determine your sum insured.

2 The off duty cover amount may change from time to time as advised to us by the Ambulance Service of NSW. 

Change to Insurance Handbook – Ambulance Officers Death (including Terminal Illness) Off duty cover amount

The amount of off duty death (including terminal illness) cover as at 1 January 2024 is currently disclosed in Table 8 on page 51 of the Insurance Handbook - Ambulance Officers, as shown below:
 

Swipe table to view more

Age last birthday Lump sum (as at 1 January 2024)

Up to and including 60 years of age

$466,053

61 years of age

$372,843

62 years of age

$279,632

63 years of age

$186,422

64 – 69 years of age

$93,209

70 years of age

No cover

 

The amount of off duty death (including terminal illness) cover increased on 1 January 2025 and 1 July 2025 and will further increase on 1 July 2026. Accordingly, Table 8 on page 51 of the Insurance Handbook – Ambulance Officers is updated as shown below: 
 

Swipe table to view more

Age

Level of cover on and from:

1 January 2025

1 July 2025

1 July 2026

Up to and including 60 years of age

$507,532

$522,758

$533,213

61 years of age

$406,026

$418,207

$426,571

62 years of age

$304,519

$313,655

$319,928

63 years of age

$203,014

$209,104

$213,286

64 to 69 years of age

$101,505

$104,550

$106,641

70 years of age

No cover

Updates to current information from 1 July 2025

The products and disclosure documents listed below are impacted by the 1 July 2025 changes covered on this page.

Product Disclosure Statement (PDS) reference:
PDS Aware Super Future Saver – Employer Sponsored and Personal dated 30 June 2025
PDS Aware Super Future Saver – Police Blue Ribbon dated 1 October 2024
PDS Aware Super Future Saver – Ambulance Officers dated 1 October 2024

Handbook reference:
Future Saver Super Handbook dated 30 June 2025

Update to non-concessional contributions bring-forward rule

Generally, if you’re under 75, you can bring forward 2 years of future entitlements equalling a cap of $360,000. If your total super balance on 30 June of the previous financial year is equal to or greater than $1.76 million from 1 July 2025 ($1.66 million from 1 July 2024), your eligibility to bring forward is reduced.

Increase to the Super Guarantee (SG) contribution rate

The law requires Australian employers to pay a percentage of your Ordinary Times Earnings or OTE (generally your gross salary) as Superannuation Guarantee (SG) contributions.

From 1 July 2025, the SG contribution rate increases from 11.5% to 12% for the 2025/26 financial year and is currently scheduled to remain at 12% going forward.

Changes to government co-contribution thresholds

To encourage Australians to build their super, the government has a co-contribution initiative. If you’re eligible the government will contribute $0.50 for every $1 of personal (after-tax) contributions you make into super in a financial year, up to a maximum of $500. The amount you can receive is based on your income and can change each financial year.

From 1 July 2025, the government co-contribution lower income threshold increased from $45,400 to $47,488, and the higher income threshold increased from $60,400 to $62,488 for the 2025/26 financial year.

This means to receive the maximum co-contribution of $500, you have to earn equal to or less than $47,488 in the 2025/26 financial year and you need to make a personal contribution of $1,000. The maximum co-contribution reduces for every dollar of income you earn over $47,488 per annum, phasing out completely if your total income is $62,488 per annum or greater.

To find out more about the government co-contribution initiative, contact the ATO Superannuation Infoline on 13 10 20 or visit ato.gov.au.

Increase to the transfer balance cap

There is a general transfer balance cap which is a lifetime limit on the total amount of superannuation that can be transferred into retirement phase income streams.

From 1 July 2025, this cap amount has increased from $1.9 million to $2 million.

This cap applies to all retirement phase income stream accounts you may have. While the cap does not apply to transition to retirement income streams (like Retirement Transition), if you convert your transition to retirement income stream to a retirement income stream (like Retirement Income), your benefit will be subject to your personal transfer balance cap.

It’s important to note everyone will have their own personal transfer balance cap. Please visit ato.gov.au to find out more information.

Increase to the low rate cap amount

From 1 July 2025, the low rate cap amount increased from $245,000 to $260,000 for the 2025/26 financial year.

Update to tax on withdrawals (thresholds)

The upper threshold for the untaxed element has increased from $1,780,000 to $1,865,000.

 

Swipe table to view more

Age Tax treatment of taxed element Tax treatment of untaxed element

60 and above

Tax free

Up to $1,865,000 – 15% plus the Medicare levy Over $1,865,000 – top marginal rate plus the Medicare levy

Under 60

20% plus the Medicare levy

Up to $1,865,000 – 30% plus the Medicare levy

Over $1,865,000 – top marginal rate plus the Medicare levy


 

Updates to current information from 1 July 2025

The products and disclosure documents listed below are impacted by the 1 July 2025 changes covered on this page.

Product Disclosure Statement (PDS) reference:

PDS Aware Super Retirement Income dated 1 October 2024

Pages 42 to 44, and 49

Increase to the transfer balance cap

There is a general transfer balance cap which is a lifetime limit on the total amount of superannuation that can be transferred into retirement phase income streams.

From 1 July 2025, this cap amount has increased from $1.9 million to $2 million.

This cap applies to all retirement phase income stream accounts (like Retirement Income) you may have. While the cap does not apply to transition to retirement income streams (like Retirement Transition), if you convert your transition to retirement income stream to a retirement income stream (like Retirement Income), your benefit will be subject to your personal transfer balance cap.

It’s important to note everyone will have their own personal transfer balance cap. Please visit ato.gov.au to find out more information.

Update to current information

Product Disclosure Statement (PDS) reference:

PDS Aware Super Retirement Income dated 1 October 2024

Pages 42 to 44, and 49

Changes to Administration fees from 1 June 2025

From 1 June 2025, the ‘Administration fee’ for the Aware Super Retirement Income product, including Retirement Transition, will be reduced from 0.23% to 0.17% per year, capped at $1,300 per year. There is no change to the ‘Account-keeping fee’ of $52 per year. With the reduction of the ‘Administration fee’, the tables below and examples disclosed in the Product Disclosure Statement are changed as follows:

On page 42, the ‘Administration fees and costs’ row in the table ‘Fees and costs summary’, is changed as follows: Note: There are no changes to the footnote references.

Aware Super Retirement Income and Retirement Transition

Swipe table to view more

Type of fee or cost Amount How and when paid
Ongoing annual fees and costs1,2
Administration fees and costs

Account-keeping fee of $52 per year3

plus

Administration fee of 0.17% per year ($85 per $50,000), capped at $1,300 per year

We calculate the account-keeping fee daily and deduct it from your account at the end of each month, or when you leave the fund.

We calculate the administration fee monthly based on your account balance at the end of the month and deduct it from your account at the end of each month, or when you leave the fund.

 

1 If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.

2 Investment fees and costs and transaction costs are inclusive of GST and net of any reduced input tax credits (RITCs) at the prescribed rate. Administration fees and costs are not subject to GST.

3 Due to rounding of the monthly fee amounts the total account keeping fee will be $52.01 in some years.

On page 43, the examples of annual fees and costs tables for a superannuation product are changed as follows:

Note: There are no changes to the footnote references.

Swipe table to view more

EXAMPLE:
Balanced Investment option - Retirement Transition
Balance of $50,000
Administration fees and costs $52 + 0.17% For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $85 in administration fees and costs, plus $52 regardless of your balance
PLUS
Investment fees and costs
0.53% And, you will be charged or have deducted from your investment $265 in investment fees and costs
PLUS
Transaction costs
0.06% And, you will be charged or have deducted from your investment $30 in transaction costs
EQUALS
Cost of product1
  If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $432 for the superannuation product.


 

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EXAMPLE – Balanced investment option – Retirement Income Balance of $50,000
Administration fees and costs $52 + 0.17% For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $85 in administration fees and costs, plus $52 regardless of your balance
PLUS
Investment fees and costs
0.48% And, you will be charged or have deducted from your investment $240 in investment fees and costs
PLUS
Transaction costs
0.07% And, you will be charged or have deducted from your investment $35 in transaction costs
EQUALS
Cost of product1
  If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $412 for the superannuation product.


Note: Additional fees may apply.
1 Assumes a constant account balance of $50,000 throughout the year.
The example of annual fees and costs for a superannuation product is illustrative only.

On page 44, the cost of product figures are changed as follows:

Note: There are no changes to the footnote references.

Swipe table to view more

  Cost of product
Investment option Retirement Transition Retirement Income

High Growth

$467

$432

Balanced

$432

$412

Conservative Balanced

$407

$407

Conservative

$347

$347

Defensive

$272

$272

High Growth Socially Conscious

$342

N/A1

Balanced Socially Conscious

$332

N/A1

Conservative Balanced Socially Conscious

N/A2

$312

Conservative Socially Conscious

N/A2

$272

High Growth Indexed

$167

N/A1

Balanced Indexed

$167

N/A1

Conservative Balanced Indexed

N/A2

$167

Conservative Indexed

N/A2

$162

Australian Shares

$167

$167

International Shares

$167

$167

Property

$262

$262

Bonds

$177

$177

Cash

$157

$157

Term Deposit

$137

$137

 

1 The High Growth Socially Conscious, Balanced Socially Conscious, High Growth Indexed and Balanced Indexed options are not available to Retirement Income members.

2 The Conservative Balanced Socially Conscious, Conservative Socially Conscious, Conservative Balanced Indexed, and Conservative Indexed options are not available to Retirement Transition members.

On page 49, the definition of ‘Administration fees and costs’ is changed as follows:

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Type of fee or cost DefinitionHow it applies to your Aware Retirement Transition or Retirement Income account
Administration fees and costs

Administration fees and costs are fees that relate to the administration or operation of the superannuation entity and includes costs incurred by the trustee of the entity that:

(a) relate to the administration or operation of the entity; and
(b) are not otherwise charged as investment fees and costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

Administration fees and costs includes:
(a) an account-keeping fee of $52 per year
plus
(b) an administration fee of 0.17% per year.

The administration fee component (0.17% per year) is capped at $1,300 per year

No updates to current PDS information.

 

Future Saver Handbooks

Super Handbook
PDF (1 MB)
Investment and Fees Handbook
PDF (3 MB)

 

Insurance Handbooks

Insurance Handbook Employer Sponsored and Personal
PDF (3 MB)
Insurance Handbook - Ambulance Officers
PDF (4 MB)
Insurance Handbook - NSW Police Officers
PDF (4 MB)
Insurance Handbook - Xylem Water Solutions Australia
PDF (3 MB)

 

Financial Services Guides (FSG)

General Advice Financial Services Guide
PDF (79 KB)
Aware Financial Services Australia Limited Financial Services Guide
PDF (396 KB)

 

Target market determination (TMD)

Future Saver Employer Sponsored and Personal
PDF (125 KB)
Future Saver Ambulance Officers
PDF (138 KB)
Future Saver NSW Police Officers
PDF (141 KB)
Target Market Determination - Aware Super Retirement Income
PDF (131 KB)
Target Market Determination - Aware Investment Funds
PDF (108 KB)

 

FAQ

DDO requires issuers and distributors of financial products to have a customer-centric approach to the design and distribution of their products, with the aim of helping customers to obtain financial products that are appropriate for their objectives, financial situation and needs. It is applicable to all our products that require a Product Disclosure Statement excluding MySuper and closed products.

A Target Market Determination is a document which describes a group of retail clients (the target market) for whom a product is likely to be appropriate or consistent with their likely objectives, financial situation and needs. It provides any conditions and restrictions on how the product can be distributed to customers.
It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product.

We’re required to have Target Market Determinations as a result of changes that have been made to the Corporations Act 2001.

This is to make sure we’re keeping customers at the centre of our approach to the design and distribution of our financial products.

For Aware Super Group Product Distributors Only:
As per ASIC Corporations (Design and Distribution Obligations Interim Measures) Instrument 2021/784, you no longer need to report if nil complaints are received. We will be incorporating these changes to our TMDs in the next TMD review cycle.
Target Market Determinations are regularly reviewed.