Tasplan's response to COVID-19

Tasplan updates

It’s understandable that our members are feeling anxious about the impact of COVID-19 (coronavirus), not only on their investments, but on the community as a whole. We hope this information helps to answer any questions you might have.

Tasplan has a responsibility to our members, the Tasmanian community and our staff to do what we can to minimise the spread of COVID-19.

Information provided by the Federal Government suggests there's evidence that COVID-19 can spread from person-to-person. Because of this we’ve taken the following precautions:

  • Some of Tasplan’s face-to-face services are temporarily unavailable

Our Hobart, Launceston and Devonport offices have now all re-opened.

Face-to-face appointments are strictly by booking only. There will also be a secure drop off point for you to drop off forms, alternatively you can send them to us.

If you’d like to speak to us or book an appointment call 1800 005 166. Alternatively, you can self-service and access your account information using Tasplan Online.

If you’re looking for general information about super, there’s lots of information about super, investment, and planning for your retirement on the Tasplan website.

You’ll also find member forms here.

  • We’ve postponed Tasplan face-to-face information sessions. We’re currently running a series of webinars, you can register here.
  • We’ve paused some off-site visits. Where employers have a COVID-10 safety plan in place, work site visits may recommence. 

Frequently asked questions 

  • Tasplan SuperTasplan SuperBe careful of scams

    For information on COVID-19 related scams which are currently circulating, please visit our Scams page which we'll continue to update as we receive more information.

  • Tasplan SuperTasplan SuperWhat will happen into the future?

    Tasplan will continue to monitor and reassess our risk minimisation strategies over time. We’ll continue to follow the advice of the World Health Organisation, the Tasmanian Government and the Federal Government.

    With so much uncertainty surrounding COVID-19, we aren’t able to provide a timeline for when things will change or be rescheduled.

    In the event of a virus outbreak within our offices or a government-imposed lockdown, we’ll still be able to operate as a business, be available to administer your account and process payments to members, such as pension payments.

    This web page and Tasplan’s social media pages (Facebook, LinkedIn and Twitter) are where we’ll keep you up-to-date about any changes.

  • Tasplan SuperTasplan SuperHow has COVID-19 affected my super?

    We provided the following to explain how COVID-19 impacted the financial markets and the impact that may have had on Tasplan members’ investments.

    In general, super and pension fund portfolios are long-term assets, and we would caution against making significant changes while markets are volatile. Although economic growth expectations have fallen, markets have already moved to discount this change.

  • Tasplan SuperTasplan SuperOur investment management and governance

    Tasplan takes its investment management and governance very seriously. We have a system of procedures, checks and balances to make sure trustees’ decisions align with our investment strategies and objectives. Trustee directors also undertake regular training around investments issues and we have our in-house team of experts managing the portfolio.

    We measure all investment managers’ performance at least monthly against industry benchmarks and our performance standards. We can dismiss investment managers if they perform poorly or don’t comply with our requirements.

    We also regularly review the asset allocation of the investment options and make changes when necessary, either as a result of market performance or member demand.

  • Tasplan SuperTasplan SuperDoes my Tasplan insurance cover me in the event of a pandemic illness?

    Yes. Tasplan member insurance policies include cover for pandemic illnesses.

    If a member has current death cover, their claim would be paid should they pass away due to a pandemic illness.

    If a member has total and permanent disablement (TPD) cover and a pandemic illness is the cause for them to become totally and permanently disabled, then they would be able to make a claim.

    If a member has income protection cover and can’t perform their duties due to a pandemic illness, and their illness extends beyond the individual’s waiting period, they can make a claim.

    Log in to Tasplan Online to check your current level of insurance cover.

    It’s important to be aware that if you made a withdrawal through the government’s early access to super measure, it may affect any insurance entitlements you may have. If you wish to keep your insurance, it’s important to check that you’ll still have enough money in your super account to cover your insurance costs. You can review your current insurance cover by logging in to Tasplan Online. If you have any questions, you can call us on 1800 005 166.

  • Tasplan SuperTasplan SuperWhat if I become unemployed due to COVID-19 and then lodge a TPD claim?

    When you’re under age 65 and not gainfully employed at any time in the six months before you became disabled, your TPD claim will usually be assessed under more restrictive parts of the TPD definition.

    If you become unemployed due to COVID-19 and subsequently lodge a TPD claim due to illness or injury, you may be assessed using the TPD definition that applied to your working arrangements on 11 March 2020. You’ll need to meet the following conditions:

    • you must have been working in your normal capacity on 11 March 2020
    • you became unemployed due to COVID-19 on or after 11 March 2020
    • you became totally and permanently disabled as a result of illness or injury between 11 March 2020 and 31 December 2020, inclusive
    • you lodged a completed claim on or before 31 March 2021.

    For more information, see our Insurance guide or call us on 1800 005 166.

  • Tasplan SuperTasplan SuperCan I access my super to help me during this time?

    The government’s COVID-19 early release of super scheme closed on 31 December 2020. For more information, see Early access to your super.

  • Tasplan SuperTasplan SuperIs it true that the government has temporarily reduced super minimum drawdown rates?

    We have a dedicated page to answer your questions about the temporary reduction to minimum drawdown rates.

  • Tasplan SuperTasplan SuperIs it true that the government has reduced social security deeming rates?

    Yes, on top of the deeming rate changes made at the time of the first package (12 March 2020), the government has reduced the deeming rates further. As of 1 May 2020, the lower deeming rate is 0.25% and the upper deeming rate is 2.25%. The reductions reflect the low interest rate environment and its impact on the income from savings.

    The change will benefit around 900,000 income support recipients, including around 565,000 people on the Age Pension who will, on average, receive around $324 more from the Age Pension in the first full year that the reduced rates apply.

    You don’t need to do anything. If you have deemed income, the new deeming rates will be applied. You may then see a change in your regular payment rate.

    If you’d like more information please read the government’s Economic response to the coronavirus – Providing support for retirees fact sheet which includes an example to help you further understand this change.

  • Tasplan SuperTasplan SuperHow is Tasplan protecting their staff during this time?

    We’re conscious of reducing the spread of COVID-19 and our staff have been educated about the importance of practising good hygiene. Our staff have also been provided with the tools to be able to do so.

  • Tasplan SuperTasplan SuperBe sensible and take precautions.

    At the advice of the Australian Government Department of Health, it’s important that individuals continue to wash their hands often and with soap and water, use a tissue to cover their mouth when coughing or sneezing and avoid close contact with others.

 

Is COVID-19 causing you financial stress?

Watch our video to learn more about the government's early access to super measure.

Is COVID-19 causing you financial stress?

Tasplan has received reports of scams as a result of COVID-19.

To see the list of current scams that we’re aware of visit our

Scams page