The Insurance in Superannuation Voluntary Code of Practice (the Code) comes into effect on 1 July 2018. The code’s objective is to improve the insurance in super offering to members and the processes behind the provision of insurance benefits by funds. NESS Super is committed to ensuring our members’ needs and best interests continue to remain at the core of our offering.
On 28 March 2018 NESS Super commenced a tender process for its Group Life Insurance offering to our more than 14,000 members, therefore the Trustee of NESS Super has taken a decision not to adopt the code until such time as the tender process is complete. It is anticipated the successful insurer will provide insurance services to NESS Super with effect from 1 December 2018.
We will provide further details of NESS Super’s response to the code by 31 December 2018.