Important: Action Required to Update Your Superannuation Instructions
As part of our transition to Salaam, we need your assistance in updating your contribution details. To ensure your superannuation contributions are allocated correctly, we kindly ask that you forward the below specific instructions to your employer as soon as you are able.
You should give the below information to your employer payroll.
Important: Please update the superannuation fund details for your employees that currently have superannuation contributions paid to the Crescent Wealth Super Fund
Thank you for making contributions to the Crescent Wealth Super Fund on behalf your employee(s).
On 31 May 2024 the Crescent Wealth Super Fund will be closed and all members will be transferred to the Salaam superannuation Division in the Russell Investments Master Trust from 1 June 2024. We have communicated this change to your employee(s).
Making contributions up until 22 May 2024
You can continue to upload your superannuation contributions to Crescent Wealth Super Fund, via a clearing house, up until 22 May 2024.
Making contributions between 23 May 2024 and 31 May 2024
Contributions that are uploaded via a clearing house to the Crescent Wealth Super Fund from 23 May 2024 may be rejected, and this may have implications for your ATO obligations to pay superannuation by the due date. We therefore encourage you to make any contributions to the Crescent Wealth Super Fund by 22 May 2024.
Please note: the Crescent Wealth Super Fund bank account will be closed on 31 May 2024.
Making contributions from 1 June 2024
From 1 June you will need to make superannuation contributions to Salaam superannuation in the Russell Investments Master Trust.
Remove the Crescent Wealth Super Fund details for your employee(s) and replace with the details below for Salaam superannuation in the Russell Investments Master Trust:
Contribution details from 1 June 2024
- Fund name: Russell Investments Master Trust
- ABN: 89 384 753 567
- USI: TRM0001AU
What happens if I don’t update the superannuation fund details for employees currently making contributions to Crescent Wealth Super Fund?
If you try to upload contributions to the Crescent Wealth Super Fund from 23 May 2024 they may be rejected, and this may have implications for your ATO obligations to pay superannuation by the due date.
Do I have to update my employee’s member number?
No, the member number for your employee will not change with the move to Salaam superannuation.
What happens if I make contributions to the Russell Investments Master Trust before 1 June 2024?
If you send contributions to the Russell Investments Master Trust prior to 1 June they will not go to your employee’s Salaam superannuation account. If contributions are received prior to 1 June they may go to the iQ Super For Life section of the Russell Investments Master Trust.
Please note: Salaam superannuation in the Russell Investments Master Trust cannot accept contributions until 1 June 2024.
Who do I contact if I have questions?
If you any questions, please contact:
Up to 31 May 2024, Crescent Wealth Super Fund on 1300 926 626 or email super@crescentwealth.com.au
From 1 June 2024, Salaam superannuation on 1300 926 626 or email super@salaam.com.au