AustralianSuper has extended its offer of 20,000 bonus Qantas Points when you open a new AustralianSuper account. New members can now sign up by 31 December.
Key requirements
In order to pocket the 20,000 Qantas Points there are a couple of things that you will need to do:
- Join AustralianSuper as a new member,
- then deposit at least $350 into a new super account within the first six months.
Once you have done that, the bonus points will make there way to your Qantas Frequent Flyer account within 3 months of reaching the target.
The original offer expired in May. This was then extended until June, and now is available to members opening an account by 31 December 2019.
Just remember that you can only get the points if you are a new AustralianSuper member. Existing members are not eligible. In addition, the points are not handed out when you open a Transition to Retirement (TTR) account.
Some things to watch
As this is a Superannuation account, this may not be for everyone. While you need to put at least $350 into the account, these funds do go into a Superannuation account.
There are some fees attached to the account that may eat into your $350. The main fee is an administration fee of $2.25 per week, which is charged monthly. On top of that there is an investment fee charged as 0.66% of the account balance, which may apply.
Finally, you need to consider insurance products that might be included. If you don’t opt out, you will be charged some premiums for these.
It’s not all bad. It is, after all, an investment account, so hopefully your funds will actually grow while in the account.
At the end of the day, you will need to judge for yourself whether it is worthwhile to get into the scheme. But, if you were planning on getting into AustralianSuper anyway, 20,000 bonus Qantas Points is a nice little bonus.
