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Media Super is now offering a “Business Super Health Check” to ArtsHub company members.
‘We will come to you and undertake an assessment of your current superannuation situation – we’ll check that you are meeting your super obligations, and if we can help you improve efficiency and reduce your costs,’ said Graeme Russell, CEO of Media Super.
To organise a time for your “Business Super Health Check”, contact the Business Development Manager in your state.
Choosing the right fund
Typically, an arts organisation will ask two questions when choosing a fund: Does it offer good returns? Will it make administering superannuation to employees easier?
But in the arts industry there is also another important question: What does your default fund do for the sector?
Russell believes an industry’s default super fund should not just offer a great product; it should also support its community of members and the industry.
Media Super – the specialist industry super fund for print, media, entertainment and arts professionals – is becoming an increasingly important part of the arts ecosystem for employees, freelancers, and the sector as a whole, as a superannuation service as well as a supporter.
‘We are a fund that has been created from the industry and our board represents employers and workers from the arts and entertainment industry, as well as media and print.
‘The Screen Producers Association, Live Performance Australia and Media Alliance are all represented on our board, so we have an absolute direct link and real understanding. This is our industry and we work it and live it every day,’ said Russell.
Investing in arts and film
As an industry fund, Media Super is run solely to benefit members. In 2016 it was listed as one of the top 10 funds in Australia*.
Read: Media Super finishes top 10
But in addition to low fees and competitive returns, Media Super demonstrates how a superannuation fund can also support the industry in other ways.
‘We are also a significant investor in our industry. We just passed $100 million of investment in Australian film and TV production with our investment in the film Lion,’ said Russell.
In total, Media Super has invested more than $100 million into seventy film and TV productions through its partnership with Fulcrum Media Finance.
Don’t waste your time
A good default fund also makes administration easy, and should include a simple clearing house to distribute payments to employees’ funds.
‘We have an easy online payment arrangement via an online clearing house, so people can pay the super for all their employees through our clearing house – even if it’s not going to Media Super and is going to half a dozen other funds,’ said Russell.
However some clearing houses have limitations in place, such as the ATO’s which is only free to use if you have 19 or fewer employees or turnover $2 million or less. That’s why employers should look for a super fund that doesn’t have limitations.
Contact the Business Development Manager in your state
Russell also said a default fund should be easy for employers to access both on the phone and face to face.
‘We’ve got business development managers in each state who are focused simply on employers in our industry. They are regular visitors to work places and always available on the phone – and we’ve got a dedicated employer hotline.’
The Media Super Business Development Managers regularly visit worksites for group presentations and to offer one on one support to employees. There is also an option to receive a tailored financial education program for staff that want to learn more about superannuation and improve their financial literacy.
Plus Media Super also offers wellbeing workshops on company mental health in partnership with SuperFriend. ‘That’s a difference with Media Super compared to most other funds in the industry,’ said Russell.
To book your super health check today, contact the Business Development Manager in your state.
*SuperRatings SR50 Balanced (60-76) Index.
This article provides general information only, and does not take into consideration your personal objectives, situation or needs. Before making any financial decisions you should first determine whether the information is appropriate for you by reading the relevant Product Disclosure Statement and/or by consulting a qualified financial adviser. Issued by Media Super Limited (ABN 30 059 502 948, AFSL 230254) as Trustee of Media Super (ABN 42 574 421 650).
