The problem with the legislation is the time frame. If you open a new account now with $5k in it and get some default insurance, then don't contribute anything further, the super fund will send you 4 warnings over the course of the next 16 months, telling you that you need to opt in or make a contribution to retain the insurance. So why is it that right at the beginning of the legislation, you get one warning, most of them were issued in April or May, and then you lose it. Don't happen to get the letter in the post, bad luck, your cover's gone. Happen to be overseas on an extended trip and don't see it in time, bad luck, your cover's gone.
Stuff like this and the ridiculous FASEA exam timeframe are just beyond belief.
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