CAAMA Radio Series - Australian Super made easy

20 January 2023

The Australian superannuation system is meant to benefit all Australians. However, the unique needs of Aboriginal and Torres Strait Islander peoples are often overlooked. Many face structural challenges in accessing and engaging with their super, and a lack of financial literacy is a barrier for some. These challenges can result in financial insecurity and poor retirement outcomes.

To help address these issues, AustralianSuper supports several initiatives – as part the Fund’s Innovate Reconciliation Action Plan. A key part of this is CAAMA’s Australian Super Made Easy radio series.

Partnering with CAAMA to help Aboriginal and Torres Strait Islander peoples engage with their super

Central Australian Aboriginal Media Association (CAAMA) is Australia’s largest Aboriginal media organisation.

AustralianSuper partnered with the CAAMA team in 2022 to produce a 6-part radio series called Australian Super Made Easy. The series explores the essentials of superannuation and insurance as they relate to Aboriginal and Torres Strait Islander peoples.

Australian Super Made Easy aims to empower Aboriginal and Torres Strait Islander peoples to:

• Understand super
• Engage with their super fund
• Learn which fund their super is with
• Keep track of their balance
• Know how to access their super and when
• Understand their insurance benefits
• Know where to get more information.

Each episode, hosted by CAAMA presenter Kyle Dowling, focuses on one key element of super. The series draws on the expertise of presenters from AustralianSuper as well as Nathan Boyle – Indigenous Outreach Manager from the Australian Securities and Investments Commission (ASIC).

Australian Super Made Easy – Episode Guide

Episodes are in English and Western Arrernte, with Pitjantjatjara coming soon, and cover:

1. Demystifying superannuation

In this episode we chat about the basics of super – what it is, who has it and how to find out if you have any. Tune in for more information about how it works, and your employer’s obligations in paying you super.

2. Accessing superannuation

So, you’re building a nest egg for when you’re retired. How do you access it when you finish working? In this episode we talk about how old you need to be to access super, and early withdrawal options. We discuss financial hardship payments and how early release of super on compassionate grounds works.

3. Consolidating superannuation

In this episode we discuss the problems with having multiple super accounts. We talk about the benefits of combining super accounts to minimise fees. We discuss how to work out which super fund is best for you.

4. Insurance in superannuation

Super funds provide basic insurance cover with your super account. This cover provides a basic level of protection if you die or become ill or injured. In this episode we discuss insurance in superannuation – what it is and how it’s paid for. We explain different types of insurance: Death, Total and Permanent Disablement, and Income Protection insurance.

5. Insurance claims

In this episode we discuss what happens to your super when you die. We also talk about how to nominate who should receive your super when you die. We explore what to do when someone dies, and how to make claims for Total and Permanent Disablement, and Income Protection payments.

6. Engaging with your super fund

It’s important to stay connected with the super fund growing your nest egg. In this episode we talk about the importance of keeping your contact details and personal information updated with your fund. We also touch on the free comparison tools available for everyone.

Listen: CAAMA Radio Episodes