The COVID-19 pandemic:

What you need to know

The COVID-19 crisis is impacting our economy, our jobs, and our super. You may be feeling concerned about your super and your finances in this uncertain time. If you need any assistance, our contact centre is ready to take your call on 132 467 from 8 am to 8 pm EST.

Please visit the Australian Government Department of Health for the most up to date information about COVID-19.  

For up to date information about COVID-19 and your super and finances, please read the information below.

Keep track of your super online

The best way to stay on top of your account during this time is to log in to MemberAccess. By doing so, you can check your balance, update your details and review your insurance options.

Financial support

Many Australians are losing working hours or their jobs – on a short-term basis or longer. Some businesses are being forced to close and markets have been volatile. This is causing financial pressure for many people.

Thankfully, the Government has implemented some measures that could provide you with assistance. We have included some information on these below.

Access to super – COVID-19 Early release of superannuation

Applications for the COVID-19 Early Release of Superannuation provision closed on 31 December 2020. These provisions allowed eligible individuals to withdraw up to $10,000 in 2019/20, and a further $10,000 in 2020/21, if they were financially affected by the COVID-19 crisis.

Keep your money safe

Scammers are trying to exploit Australians during the COVID-19 crisis. After the announcement of early release of super in March, the superannuation industry had to prepare for a serious increase in fraudulent activity trying to illegally access member funds. Intrust Super has strict controls, security systems and processes in place to ensure your information is protected.

There are a few simple ways you can also protect your account and your personal information:

1. Log in to MemberAccess regularly to check your transactions and your contact details.

2. Don't respond to unsolicited phone calls or emails from people offering to help you withdraw your super.  

3. Look out for any messages from Intrust Super (or another super fund) alerting you to a request to withdraw money from your super fund. If you did not make this request, respond to the text message immediately to stop the transaction.  

4. Always protect your passwords and avoid using the same password for multiple accounts.

5. Don't use free Wifi to enter personal information. 

Income support payments

New support payments have been introduced by Centrelink, including JobSeeker Payments, Youth Allowance Jobseeker and Parenting Payments (Partnered and Single), with reduced waiting periods and means testing. These payments will provide you with income support if you meet the income tests as a result of the economic downturn due to COVID-19.


A wage subsidy called JobKeeper is being provided to employers to help businesses impacted by COVID-19 continue employing staff. All employees receiving JobKeeper must be paid the minimum, regardless of their previous wage. Businesses can also choose to pay additional wage on top of this income.

Discuss your arragments with your bank

Some banks have announced that they are willing to change terms of loans or temporarily pause loan repayments or reduce payments for a certain period. The Government announced a six-month moratorium on evictions for both residential and commercial tenants. Normal residential arrangements came back into effect on 30 September 2020. However, each state and territory will deal with the moratorium differently for residential and commercial arrangements.  For example, the moratorium on the evictions for commercial leaseholders has been extended to the end of December 2020 in Queensland. Visit your State's website for specific information on arrangements. It may also be worth contacting your bank or landlord to find out what options are available to you.

Your investments

Global markets, including Australian share markets, are currently experiencing volatility as a result of COVID-19. Short-term volatility is an expected part of the super journey and does occur from time to time. Superannuation is a long-term investment and Intrust Super’s investment portfolio is well-diversified with defensive assets to help offset some of the losses in share markets. However, market volatility will still impact our portfolio in the short term.

Market volatility can potentially also impact your eligibility for insurance in super if your account balance falls below what is required to cover premiums. You should check your balance by logging into MemberAccess, or call 132 467.

If you are concerned about how market volatility is impacting your savings and/or are considering switching option, you should consider speaking to a financial adviser. Intrust Super offers financial advice1 via, Intrust360°. You can also perform projections for free, online, using our SuperBlueprint tool.

Further details are provided at the links below:

Your insurance cover

The most important thing at the moment is your health and that of your family. Prioritising your well-being, staying informed and taking appropriate precautions is vital.  It’s also important to know what kind of insurance cover you have. Intrust Super provides PayGuard Income Protection insurance, and Life and Total and Permanent Disablement insurance cover to all eligible members who either opt in or meet default insurance eligibility criteria.

Importantly, Intrust Super’s insurance policies do not have any exclusions relating specifically to pandemics.

This means that if eligible, you will be covered with income protection if you fall ill with COVID-19 (subject to applicable terms, conditions and waiting periods). Generally, you’re required to be making superannuation contributions to be covered by PayGuard, however, if you are registered for JobKeeper, you may still be eligible for PayGuard even if you are currently not making contributions, You should read the below links for further details.

You are also covered by Life & TPD insurance should you become totally and permanently disabled, or pass away, as a result of a COVID-19 related illness.

Please note  your insurance cover may cease if you have travelled to a destination on the DFAT Do Not Travel register, if you withdraw all your super via the Early release of Superannuation provisions, or if market volatility or withdrawals drive your balance below what is required to cover insurance premiums.

Pension drawdown changes

The Government has temporarily halved the minimum pension drawdown from 5% to 2.5%. These new rates apply to the 2020 and 2021 financial years. By taking less income from your pension product this year and/or next year, pension investors can preserve their savings longer and leave more in their account to benefit from any potential market recovery. It’s best to discuss these strategies with a financial adviser.

Financial advice

During times of uncertainty, it can be very helpful to seek financial advice. You can speak with one of our qualified financial advisers1 from Intrust360° or use our online Super Blueprint tool available through MemberAccess. Financial advisers and Super Blueprint can help you understand your risk profile and make informed decisions about the future.

For more information

For more information regard any of the items above, please contact 132 467 or send an email to

1. IS Financial Planning Pty Ltd ABN 64 143 707 439 trading as Intrust360° is a wholly owned subsidiary of IS Industry Fund Pty Ltd ABN: 45 010 814 623. Intrust360° is a corporate authorised representative of Link Advice Pty Limited ABN: 36 105 811 836 | AFSL: 258145 | Corporate Authorised Representative Number: 379207.  The Trustee of Intrust Super is IS Industry Fund Pty Ltd MySuper Unique Identifier: 65704511371601 | ABN: 45 010 814 623 | AFSL No: 238051 RSE Licence No: L0001298 | Intrust Super ABN 65 704 511 371 | SPIN: HPP0100AU RSE Registration No: R1004397

The information above is of a general in nature only and does not consider your needs or objectives. For more information see our Product Disclosure Statements.  For advice personalised to your circumstances, please speak to a financial adviser.