Significant Event Notice: Future Super RSA

This notice is issued and effective on 1 April 2026 by Police Financial Services Limited (ACN 087 651 661) (BankVic) (ABN 33 087 651 661, AFSL and Australian Credit Licence 240293) as issuer of the BankVic Super Future Retirement Savings and Pension Accounts (Account or RSA Product).

The RSA Product will be terminated on 30 June 2026 (Termination Date).

Pursuant to the relevant financial services legislation and the Product Disclosure Statement dated 1 October 2017 relating to the RSA Product, BankVic may terminate the RSA Product for any reason and may wind-up the Accounts after paying outstanding benefits to holders of the Accounts and paying outstanding expenses (including expenses relating to the winding up of the RSA Product). 

What this means for you

The termination of the RSA Product will impact each member differently depending on the type of Account held. BankVic’s RSA Product has Accumulation Accounts (which operate like superannuation accounts) and Pension Accounts. Please see below for specific information and important notices relating to these Accounts.

If you are eligible to receive your benefits in cash (for example, if you are aged 65 or over or you have met another condition of release), you may close your RSA Account by requesting that we transfer your Account balance to another bank account operated by you. Alternatively, you may also request that your benefits be transferred to another superannuation fund, where you may be able to start a new pension.

If you are not eligible to receive your benefits in cash, you must transfer your benefits to another superannuation fund.

• We must receive instructions relating to your benefits by close of business on Friday 19 June 2026.
• Your benefits will not be able to remain in the Account after the Termination Date, 30 June 2026.
• Any remaining benefits on the Termination Date will be transferred to the Australian Taxation Office (ATO).

Withdrawing or transferring to a new provider

If you are eligible and wish for your benefits to be transferred to another bank account operated by you, please complete the attached withdrawal form  or ATO Rollover form and return it to us by 19 June 2026.
Otherwise, you can nominate another superannuation fund for the transfer of your benefits by either:

1. Arranging for the nominated superannuation fund to submit an electronic rollover request to BankVic (we recommend contacting your nominated superannuation fund for more information about how to do this); or
2. Submitting a transfer request through your myGov account; or
3. Completing the attached ATO request for transfer form and returning it to us; or
4. Completing the attached withdrawal form and returning it to us.

Any transfer request or withdrawal form must be received by BankVic by 19 June 2026 and will be implemented on or before 30 June 2026. No fees will apply to any withdrawal requests received following the date of this letter.

Consequences of not exiting your account

If you do not take any of the actions described above, the balance of your RSA Account will be transferred to the ATO on 30 June 2026, or as soon as reasonably practical after this date.

To confirm, your benefits will be transferred to the ATO if:

1. We do not receive a duly completed transfer request or withdrawal form by close of business on 19 June 2026; or
2. Your instructions cannot be implemented by 30 June 2026 (for example, your nominated RSA provider or superannuation fund rejects the transfer request for any reason); or
3. You otherwise do not provide instructions or are not contactable.

BankVic will transfer your benefits to the ATO without your consent on or after 30 June 2026 because BankVic expects its approval as an issuer of RSA products will be terminated from this date, and accordingly believes that transfers to the ATO will be in the best financial interests of its RSA Account holders when BankVic’s RSA Product is terminated.

If your benefits are transferred to the ATO, you may be able to claim your benefits from the ATO (by requesting that they be rolled over to another nominated fund) or the ATO may transfer the benefits to another “active” RSA provider or superannuation account it may find in your name. You should seek independent advice if your benefits are transferred to the ATO.

Superannuation money held by the ATO may attract interest; however, the money will not incur fees and costs or provide insurance cover. The rate of interest payable by the ATO is different to the level of investment earnings that may be payable on superannuation money held by a superannuation fund.

Specific information for Pension Accounts

IMPORTANT NOTICES FOR PENSION ACCOUNTS
From 19 June 2026, no pension payments will be made to members with Pension Accounts.

As outlined above, you can provide us with instructions by close of business 19 June 2026 to transfer your Pension Account balance to another superannuation fund or to pay your Pension Account balance to another bank account operated by you. The final pension payment made to you (which will be made prior to 19 June 2026) may be adjusted to ensure the Government’s minimum annual pension payment requirement is met. This will take into account your period of membership in the Pension Account. From 19 June 2026, no further pension payments will be made to members with Pension Accounts.

If you are currently receiving a pension, then a withdrawal by cash payment or a transfer to a new superannuation fund may trigger social security and/or taxation implications for you. As we are not aware of your personal circumstances, you should obtain personal financial and taxation advice.

If you receive a Government age pension, you should also contact Centrelink on 132 300 (Monday to Friday, 8am to 5pm) to determine if there are any implications for your age pension.

Specific information for accumulation (superannuation) accounts

IMPORTANT NOTICES FOR ACCUMULATION ACCOUNTS

From 1 June 2026, we will cease accepting all contributions to Accumulation Accounts in the RSA Product.

From 1 June 2026, we will cease accepting requests to rollover or transfer money into Accumulation Accounts. Requests will be denied despite any request being received from you directly, from another RSA provider or superannuation fund or from the ATO (for example, where your request is made via your myGov account). Requests to rollover or transfer amounts into Accumulation Accounts received prior to this date will be processed within usual timeframes.

From 19 May 2026, you can no longer commence receiving a pension from your RSA Account. After this date, if you would like to use your Accumulation Account balance to commence the payment of a superannuation pension, you will need to consider pension products made available by an alternate superannuation fund.

Employer notifications

If your employer is making contributions to your BankVic RSA Account and you are transferring to a new superannuation fund, you should provide your employer with details of your new superannuation fund:

1. To ensure future compulsory (Superannuation Guarantee) contributions can be made appropriately;
2. To ensure any agreement with your employer to make salary sacrifice (before-tax) contributions on your behalf to the Accumulation Account can continue to be made towards your superannuation;
3. To ensure any authorisation for your employer to forward voluntary member contributions from your after-tax pay can continue to be made towards your superannuation.

Claiming a tax deduction for personal superannuation contributions

IMPORTANT NOTICES FOR TAX DEDUCTIONS

If you want to claim a tax deduction for any personal superannuation contributions you have made to the Accumulation Account in the current or previous financial year, you must first notify us that you intend to claim a deduction no later than 19 June 2026 and before the date your account balance is paid from the Accumulation Account.

A notice of your intention to claim a tax deduction must be in the form of a ‘Notice of intent to claim or vary a deduction for personal superannuation contributions’. A Notice is only valid if we acknowledge the Notice when you still have an account balance in the Accumulation Account. Go to www.ato.gov.au for eligibility criteria and more information on claiming a tax deduction. Consider obtaining tax advice if you need help understanding your eligibility or to claim the tax deduction.

Deciding your next steps – for all account holders

Please note that the information in this notice is general information only and does not take into account your personal financial objectives, situation or needs. Please note that BankVic cannot provide you with financial advice. You should consider obtaining personal financial advice from a financial adviser before making any decisions based on the information in this notice.

You can seek advice through your preferred financial planner. 

We have included some frequently asked questions below to assist you and your adviser in deciding how you may exit your RSA Account.

How much will I be paid and when?

On receipt of your instructions, we will pay or transfer the amount of your account balance(s) in your RSA Account as soon as reasonably practicable. The amount to be withdrawn or transferred will be calculated on the date of payment or transfer, after taking into account applicable fees, costs, taxes and investment earnings up to that date. Usual processing timeframes will apply. No fees will apply to any withdrawal requests received following the date of this notice.

How do I close my account?

After your benefits have either been withdrawn or transferred to a new superannuation fund, you will receive an exit statement confirming you have no further benefit or entitlement from your BankVic RSA Account. Your RSA Account will be closed once it has been determined no further amounts will be payable to you.

Will death benefit nominations cease?

Any death benefit beneficiary nomination you have previously made will cease to have any effect from the date you cease to hold a BankVic RSA Account. You should consider making a new beneficiary nomination in your nominated fund (if any).

We're here to help

If you have any questions, please contact us on 03 9268 9358 between 8.00am - 5.00pm (Melbourne time) Monday to Friday, or email info@bankvic.com.au 

View the full Significant Event Notice.