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END OF FINANCIAL YEAR 2021 - 2022

1. When will the Insurance Premium Summaries be available to my clients?

We expect your clients to begin receiving the following Summaries from mid-August:

  • Insurance Premium Summary - to your OneCare, SmartCare, World of Protection and other OnePath retail legacy non-super policies with an Income Protection cover.
  • Insurance Premium Summary – to your clients with:
    • OneCare SMSF policies
    • World of Protection (WOP) and other retail legacy SMSF policies

For OneCare, SmartCare, WOP and other retail Legacy – Income Protection and SMSF Summaries:

It’s tax time and we’re preparing to send you information on your OnePath premiums paid last financial year. You can expect to receive this from mid-August

2. Will I receive a copy of my clients’ 2022 OnePath Insurance Premium Summary?

A copy of these Summaries will be available in the Policy Correspondence section of The Adviser Portal a few days after sending the Summaries to your clients. You can login or register for the portal here.

3. How can my client request a further copy of their 2022 OnePath Insurance Premium Summary?

  • Your client can login or register for My OnePath Life to retrieve a copy of their 2022 Insurance Premium Summary. The Summary will be available in the portal a few days after we have sent it.
  • Further information on My OnePath Life can be found here. Please encourage your OneCare clients to register for My OnePath Life if they have not done so already so they can benefit from the many features the portal provides for them.
  • Alternatively, you can login or register for The Adviser Portal to obtain a copy for your client.

4. Will all my OnePath retail super clients be sent a Contribution Tax Statement with ‘Notice of intent to claim a tax deduction for personal super contributions’ (NOID) for the 2021-2022 financial year?

We expect your eligible clients with a policy within super to begin receiving these Statements from early August 2022, should these clients wish to claim a tax deduction on eligible personal contributions made to the Retirement Portfolio Service (the Fund) in the 2021-2022 financial year.

This form is also available from the ATO website at:

https://www.ato.gov.au/uploadedFiles/Content/SPR/downloads/n71121-11-2014_js33406_w.pdf

It is important to remember that one of the eligibility criteria required by the ATO is that there must be an active membership in the Fund at the time we receive the completed notice. If your client has left the Fund we are unfortunately unable to action the notice.

Please keep this in mind when considering changes to your client’s membership, and ensure notices are submitted prior to the closure of membership.

5. If my client returns a ‘Notice of intent to claim a tax deduction for personal super contributions’ (NOID) form for the 2021-2022 tax year, when will they receive a Tax Acknowledgement letter?

We will send a Tax Acknowledgement letter/email once a returned 2021 – 2022 NOID form has been processed.

6. If a customer has a payment due after 30 June 2022 but makes the payment on or before 30 June 2022, will this payment be included in any 2022 EOFY documents the customer is sent?

Yes. The 2022 EOFY documents will include eligible premiums based on the processing date i.e. the date the premium payment is processed and not the date the payment is due. So payments made on or before 30 June 2022 will be included in the 2022 EOFY documents even if the payment was not due until after 30 June.

7. If my client has queries regarding their 2022 financial year end documents, who should they contact?

If your clients have any questions or require further information regarding these documents, they can contact Customer Care on 133 667 between 8:30AM and 6:00PM AEST.

Further information

If you have any questions or require further information regarding the 2022 financial year end documents, your Business Development Manager is here to support you. However, if you do not have a BDM, you can access contact details here.

1. When will the 2022 Annual Statements be available to my clients?

OnePath will produce an Annual Statement for the following risk-only super policies if the policy is in-force as at 30 June 2022:

  • OneCare Super (but excluding OneCare External Master Trust platform policies)
  • OnePath retail legacy, including World of Protection

We expect your clients to be sent their Statement from November. These Statements have been delayed this year as a result of the transfer of the OnePath Life insurance policies from ANZ systems to Zurich systems earlier this year. In future years we will endeavour to have the Statements out closer to the end of the financial year.

2. Will I receive a copy of my clients’ 2022 OnePath Annual Statements?

A copy of these Statements will be available in the Policy Correspondence section of The Adviser Portal a few days after sending the Statements to your clients. You can login or register for the portal here.

3. How can my client request a further copy of their 2022 OnePath Annual Statement?

  • Your client can login or register for My OnePath Life to retrieve a copy of their 2022 Annual Statement. The Statement will be available in the portal a few days after we have sent it.
  • Further information on My OnePath Life can be found here. Please encourage your OneCare clients to register for My OnePath Life if they have not done so already so they can benefit from the many features the portal provides for them.
  • Alternatively, you can login or register for The Adviser Portal to obtain a copy for your client.

4. Will all my OnePath retail super clients be sent an Annual Statement for the 2021-2022 financial year?

We expect those of your clients with a policy for insurance held through super within the Retirement Portfolio Service (the fund) that was in-force at 30 June 2022, to be sent an Annual Statement.

This includes those of your clients where no contributions have been made to their policy during the period (e.g. the policy has been on full premium waiver for the duration of the period 1 July 2021 to 30 June 2022 inclusive).

5. If a customer has a contribution (premium payment) due after 30 June 2022 but makes the contribution on or before 30 June 2022, will this contribution be included in the 2021 - 2022 Annual Statement?

Yes. The 2021-2022 Annual Statements will include eligible contributions (personal, employer, spouse) based on the financial year in which the contribution is processed and not the date the contribution is due.

So contributions processed on or before 30 June 2022 will be included in the 2021-2022 Annual Statements even if the contribution was not due until after 30 June.

6. My client has received an email about their OneCare Super Annual Statement and it’s asking them to click on a link to login or register for My OnePath Life. Is this a legitimate email and is it safe for them to click on the link?

If your OneCare Super client has told OnePath they prefer to receive their policy-related documents via email, for the 2021-2022 Annual Statements we are informing those clients by email that their Annual Statement is available via the customer portal, My OnePath Life.

The email contains a link to the login screen where your client can login to My OnePath Life if they have previously registered for this portal or click the registration button and register for the portal. The registration process requires your client to provide personal details, some of which cannot be found on the email, only your client will know. Your client will also be required to set a password that only they will know.

Please assure your clients that it is safe to click on the links in the email and once registered for My OnePath Life they should keep their username and password in a safe place.

If your client is still unsure about clicking on the links in the email, on the top right-hand side of the Insurance home page on OnePath’s public website: https://www.onepath.com.au/insurance.html, your client will see ‘Customer login’ with a button to either login or register for My OnePath Life. Proceeding this way is the same as clicking on the links in the email to access My OnePath Life.

7. If my client has queries regarding their 2022 Annual Statement, who should they contact?

If your clients have any questions or require further information regarding these documents, they can contact Customer Care on 133 667 between 8:30AM and 6:00PM AEST.

Further information

If you have any questions or require further information regarding the 2022 Annual Statements, your Business Development Manager is here to support you. However, if you do not have a BDM, you can access contact details here.