Future Saver PDS - Employer Sponsored and Personal
Future Saver PDS - Ambulance Officers
Future Saver PDS - NSW Police Officers
Aware Super Retirement Income Product Disclosure Statement
Aware Investment Funds Product Disclosure Statement
Closed Products
Aware Super Defined Benefit - Telstra Plan Member Guide
Term Allocated Pension Product Disclosure Statement
PDS Updates
Our Product Disclosure Statements are subject to change and may be updated from time to time. Where changes are not materially adverse, you can find the updated information below.
Updates to current information from 1 July 2026
The products and disclosure documents listed below are impacted by the 1 July 2026 changes covered on this page.
PRODUCT DISCLOSURE STATEMENT (PDS) REFERENCE:
- PDS Aware Super Future Saver – Employer Sponsored and Personal dated 30 April 2026
- PDS Aware Super Future Saver – Police Blue Ribbon dated 30 September 2025
- PDS Aware Super Future Saver – Ambulance Officers dated 30 September 2025
HANDBOOK REFERENCE:
- Future Saver Super Handbook dated 30 April 2026
Non-concessional contribution cap
Non-concessional (after-tax) contributions are tax-free up to the non-concessional contributions cap. The non-concessional contributions cap increases from $120,000 to $130,000 from 1 July 2026. If your total super balance at 30 June of the previous financial year is equal to or greater than the general transfer balance cap of $2.1 million then your non-concessional contributions cap is $0.
Update to non-concessional contributions bring-forward rule
Generally, if you’re under age 75, you may be able to bring forward up to two years of future entitlements, allowing contributions of up to $390,000 under the current cap. However, your ability to use the bring-forward rule for the 2026-27 financial year is reduced if your total super balance at 30 June 2026 is equal to or greater than $1.84 million.
Concessional contribution cap
The Concessional Contribution cap increases in increments of $2,500 in line with the statistical measure of average weekly ordinary time earnings (AWOTE). The concessional contributions cap increases from $30,000 to $32,500 from 1 July 2026.
Super Guarantee (SG) contribution
From 1 July 2026, your employer is generally required to make SG contributions to your super on your behalf at the same time as you’re paid.
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 2026, the government co-contribution lower income threshold increased from $47,488 to $49,293, and the higher income threshold increased from $62,488 to $64,293 for the 2026/27 financial year.
This means to receive the maximum co-contribution of $500, you have to earn equal to or less than $49,293 in the 2026/27 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 $49,293 per annum, phasing out completely if your total income is $64,293 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 2026, this cap amount has increased from $2 million to $2.1 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.
Update to tax on withdrawals (thresholds)
The upper threshold for the untaxed element has increased from $1,865,000 to $1,935,000.
| Age | Tax treatment of taxed element | Tax treatment of untaxed element |
|---|---|---|
| 60 and above | Tax free | Up to $1,935,000 – 15% plus the Medicare levy (maximum) Over $1,935,000 – top marginal rate plus the Medicare levy |
| Under 60 | 20% plus the Medicare levy (maximum) | Up to $1,935,000 – 30% plus the Medicare levy (maximum) Over $1,935,000 – top marginal rate plus the Medicare levy |
New rules introduced by the government from 1 July 2026
Payday super changes
Before 1 July 2026, employers were generally required to pay super contributions at least quarterly. From 1 July 2026, employers must pay super contributions at the same time as salary or wages (on each payday), instead of quarterly. This means your superannuation guarantee contributions should be received by your super fund within a short period after each pay (generally within 7 days).
Paid Parental Leave super contributions
From 1 July 2025, the Australian Government will pay super contributions on government-funded Paid Parental Leave for eligible parents. These contributions are calculated using the Superannuation Guarantee rate (currently 12%) and are paid by the Australian Taxation Office (ATO) directly into your super fund.
These contributions are paid as a lump sum after the end of the financial year in which you receive Parental Leave Pay, with the first payments made from the 2026–27 financial year onwards (1 July 2026 onward). This super contribution is separate from Parental Leave Pay and is automatically paid based on information provided by Services Australia.
Division 296 changes
From 1 July 2026, new tax rules apply to individuals with a total super balance above $3 million. Under current rules, concessional tax rates apply to super earnings regardless of balance size. Under the new rules, an additional 15% tax may apply to the portion of earnings that relates to balances above $3 million.
For balances above $10 million, an additional 10% tax may also apply to that portion of earnings. These changes reduce tax concessions on higher super balances and apply only to the earnings above these thresholds.
Updates to current information from 1 July 2026
The products and disclosure documents listed below are impacted by the 1 July 2026 changes covered on this page.
PRODUCT DISCLOSURE STATEMENT (PDS) REFERENCE:
PDS Aware Super Retirement Income dated 30 September 2025
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 2026, this cap amount has increased from $2 million to $2.1 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.
Updates to current information
PRODUCT DISCLOSURE STATEMENT (PDS) REFERENCE:
PDS Aware Super Retirement Income dated 30 September 2025
Update to Deceased member accounts
On page 47 under the heading ‘Deceased member accounts’ in the final paragraph, replace the sentence “For Retirement Income accounts, the deceased member rebate is not available if the account is continued by a reversionary beneficiary.” with “The deceased member rebate is not available if the account is continued by a reversionary beneficiary.”
PRODUCT DISCLOSURE STATEMENT (PDS) REFERENCE:
PDS Aware Super Retirement Income dated 30 September 2025 (Page 5)
Changes to Retirement bonus
On page 5:
- Under the heading “Are you eligible for the Retirement Bonus?” replace the sentence “have held a Future Saver account, Retirement Transition account, or both, for at least 12 months each.” with “have held a Future Saver account, Retirement Transition account, or both, for at least 6 months each.”
- Under the heading “How much you’ll receive” replace the sentence “It is calculated over the 12 months prior to your Retirement Income account being opened1” in the second bullet point with “It is calculated over the 6 months prior to your Retirement Income account being opened1”
- Under the heading “How much you’ll receive”, replace the sentence “You can receive the Retirement Bonus for more than one Retirement Income account, but the total bonus is limited to $13,000 for each member.” with “You can receive the Retirement Bonus for more than one Retirement Income account, but the total bonus is limited to $14,700 for each member.”
- In the worked example under the heading “How it is calculated” replace the following:
- “The eligible average daily balance of her Future Saver account over the 12 months prior to opening her Retirement Income account was $350,000.
- The current Retirement Bonus rate is 0.65%
- Michelle’s Retirement Bonus2 is $2,275 – based on ‘Retirement Bonus rate x Eligible average daily balance’ i.e. 0.65% x ($350,000 x 100%) = $2,275”
With
- “The eligible average daily balance of her Future Saver account over the 6 months prior to opening her Retirement Income account was $350,000.”
- The current Retirement Bonus rate is 0.70%
- Michelle’s Retirement Bonus2 is $2,450 – based on ‘Retirement Bonus rate x Eligible average daily balance’ i.e. 0.70% x ($350,000 x 100%) = $2,450
- In footnotes 1 and 2 replace all references to "12 months" with "6 months".
PRODUCT DISCLOSURE STATEMENT (PDS) REFERENCE:
PDS Aware Super Retirement Income dated 30 September 2025
Pages 42 to 44, and 49
Changes to Administration fees
On page 42 under the heading “Fees and costs summary”, the “Administration fees and costs” row in the table is replaced with the below. This reflects a reduction in the percentage-based administration fee from 0.17% to 0.16% on 1 May 2026.
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 0.16% per year ($80 per $50,000), capped at $1,300 per year
Costs paid from reserves of 0.01% for the 2024/25 financial 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.
Administration costs paid from reserves that are not otherwise charged as administration fees. These costs are not directly charged to your account but have reduced the administration reserve balance held by the fund to cover future administration and operating costs. |
Note: There are no changes to the footnote references.
On page 43 under the heading “Example of annual fees and costs for a superannuation product", the two examples are replaced with the below updated examples:
EXAMPLE – Balanced investment option (Retirement Transition) |
Balance of $50,000 |
|
|---|---|---|
Administration fees and costs |
$52 a year + 0.16% of your account balance + 0.01% a year in costs paid from reserves |
For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $80 in administration fees and costs, plus $52 regardless of your balance.
Also $5 will be paid from fund reserves (not from your account).1 |
PLUS Investment fees and costs |
0.51% |
And, you will be charged or have deducted from your investment $255 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 product2 |
|
If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $422 for the superannuation product. |
EXAMPLE – Balanced investment option (Retirement Income) |
Balance of $50,000 |
|
|---|---|---|
Administration fees and costs |
$52 a year + 0.16% of your account balance + 0.01% a year in costs paid from reserves |
For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $80 in administration fees and costs, plus $52 regardless of your balance.
Also $5 will be paid from fund reserves (not from your account).1 |
PLUS Investment fees and costs |
0.47% |
And, you will be charged or have deducted from your investment $235 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 product2 |
|
If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $402 for the superannuation product. |
Note: There are no changes to the footnote references.
These examples of annual fees and costs for superannuation product are illustrative only. Additional fees may apply.
1 For more information see ‘Administration fees and costs’ from page 46.
2 Assumes a constant account balance of $50,000 throughout the year.
On page 44 under the heading "Cost of product for 1 year", the figures in the table are replaced with the below updated figures:
Investment option |
Cost of product Retirement Transition Retirement Income |
|
|---|---|---|
High Growth |
$457 |
$427 |
Balanced |
$422 |
$402 |
Conservative Balanced |
$402 |
$412 |
Conservative |
$352 |
$357 |
Defensive |
$272 |
$272 |
| Socially Conscious diversified options |
|
|
High Growth Socially Conscious |
$357 |
N/A1 |
Balanced Socially Conscious |
$342 |
N/A1 |
Conservative Balanced Socially Conscious |
N/A2 |
$322 |
Conservative Socially Conscious |
N/A2 |
$282 |
| Indexed diversified options |
|
|
High Growth Indexed |
$167 |
N/A1 |
Balanced Indexed |
$167 |
N/A1 |
Conservative Balanced Indexed |
N/A2 |
$167 |
Conservative Indexed |
N/A2 |
$162 |
| Single asset class options |
|
|
Australian Shares |
$167 |
$167 |
International Shares |
$167 |
$167 |
Property |
$247 |
$247 |
Bonds |
$167 |
$167 |
Cash |
$157 |
$157 |
Term Deposit |
$137 |
$137 |
Note: There are no changes to the footnote references.
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 under the heading “Defined fees”, the “Administration fees and costs” row is replaced with the below:
Type of fee or cost |
Definition |
How it applies to your 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 0.16% per year. plus (c) costs paid from reserves at 0.01% for the 2024-25 financial year. The administration fee component (0.16% per year) is capped at $1,300 per year. |
Updates to current information
PRODUCT DISCLOSURE STATEMENT (PDS) REFERENCE:
Aware Investment Funds Class A and Class B PDS dated 30 September 2025
Change to carbon-constrained benchmarks wording
On page 18 under the heading “Carbon-constrained benchmarks”, replace the following sentence:
“We use carbon-constrained benchmarks for our Australian and international share portfolios that are passively managed i.e. invested in accordance with an index.”
With the updated sentence below:
“We may use carbon-constrained benchmarks for our Australian and international share portfolios that are passively managed i.e. invested in accordance with an index.”
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
Insurance Handbook - Telstra Group and Associated Employers
Insurance Handbook - Heritage TelstraSuper Personal Plus
Financial Services Guide
Aware Financial Services Australia Limited Financial Services Guide
Website Disclosure Information - Before using any of our financial services, it's important to understand what they involve. Our Financial Services Guide contains important information, which you should read to assist in deciding whether to use our financial services.
Target Market Determination - Aware Super Future Saver Employer Sponsored and Personal
Target Market Determination - Aware Super Future Saver Ambulance Officers
Target Market Determination - Aware Super Future Saver NSW Police Officers
Target Market Determination - Aware Super Retirement Income and TTR
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.