Future Saver PDS - Employer Sponsored and Personal
Future Saver PDS - Ambulance Officers
Future Saver PDS - NSW Police Officers
Aware Super Retirement Income
Aware Investment Funds
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:
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| 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:
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| 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 |
$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:
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| 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:
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| 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:
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.
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| 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
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| 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 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.
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| 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.
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| 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:
| Type of fee or cost | Definition | How 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 |
Administration fees and costs includes: The administration fee component (0.17% per year) is capped at $1,300 per year |
No updates to current PDS information.
Super Handbook
Investment and Fees Handbook
Insurance Handbook Employer Sponsored and Personal
Insurance Handbook - Ambulance Officers
Insurance Handbook - NSW Police Officers
Insurance Handbook - Xylem Water Solutions Australia
General Advice Financial Services Guide
Aware Financial Services Australia Limited Financial Services Guide
Future Saver Employer Sponsored and Personal
Future Saver Ambulance Officers
Future Saver NSW Police Officers
Target Market Determination - Aware Super Retirement Income
Target Market Determination - Aware Investment Funds
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.