COVID-19 and your super

Last updated: 23 September 2020

Here are some of the latest updates on how we’re working to support our members throughout this challenging time.

On this page:

  • We answer some of the common questions being asked about market volatility
  • How to contact us
  • What to do about the new pension draw down rates
  • Temporary early release of super
  • How to get in touch with a financial adviser
  • Insurance in super

Get in touch

Most of our local offices are open to visitors, with social distancing measures in place for the safety of our staff, members and visitors. This means you may see some changes to the way we operate such as a fewer people allowed in lifts and meeting rooms. We have masks and hand sanitiser on site for your convenience and you’ll be asked to sign in on arrival.

Visit the Contact us page for an overview of which offices are now open.

Call us on 13 64 63, Monday to Friday, 8am to 6pm AEST.

Are you looking for general information or need to return a form to us?

Contact us via or visit your nearest office.

How the market may affect you

As market volatility continues, it’s an important time to evaluate your long-term financial goals and understand the options you have if you feel your risk profile has changed. For the latest investment information, please refer to our Investments Q&A.

Here are some other helpful links and resources:

Be aware of scams

There’ve been reports of COVID-19 related scams targeting Australians. Check out the Scamwatch website for more information about the type of scams, including examples and tips to protect yourself.

Further information

We’ll continue to provide updates via this page to support you.

Mine Super Financial Advice

If you’re feeling worried about the current market volatility and would like to discuss your circumstances and investment strategy, then personal financial advice may help.

To get in touch with an adviser, simply fill out the following form or call us on 13 64 63.

Temporary early access of your super

The early release of super measure was designed specifically for people financially affected by COVID-19. This measure ended on 31 December 2020.

Pension account holders

Temporary reduction to minimum annual payment amount

To assist retirees, the Government has temporarily reduced the minimum annual draw down amount by 50% for the 2020/21 financial year. Check out this article for details about the new rates and how to calculate your new minimum payment amount. For more information on changing your pension payment amounts, visit this page.

Lower deeming rates

In addition, for people receiving or applying for an Age Pension entitlement, the deeming rates were decreased on 1 May 2020, reducing the lower deeming rate to 0.25% and the upper deeming rate to 2.25%. You won’t need to apply for this as it will automatically be applied to your Age Pension entitlement.

For more information on these changes check out the Government factsheet

Having confidence in a steady and reliable income stream is of course, essential. If you have any questions or would like to discuss how your current or future pension payments are paid, then please get in touch via 13 64 63 or

Self-serve via your online account

We understand some of our members are currently making investment switches in response to market fluctuations. While it can be tempting to switch your super investment allocation in times like these, it’s important not to jump too quickly without assessing your personal financial situation. This is where getting personal financial advice can be helpful. If you do choose to switch your investments, please allow at least three business days for this change to be reflected in your online account. 

You can also log in to your online account to check your account balance and insurance cover. 

Insurance in super

Given the impact of COVID-19, many of our members might be concerned about how it affects the insurance they hold through their Mine Super account. Generally, the rules for our insurance still apply and you can find information about our insurance in the Product Disclosure Statement and Insurance Guide at

To help, we’ve put together the following FAQs. If you need further information, you can call us on 13 64 63. 


FAQs | Insurance in super

Does the insurance on my Mine Super account cover me for COVID-19?
Generally, yes. All members including those who are on the frontline (doctors, nurses and other medical professionals) are fully covered for COVID-19. However, the general rules for our insurance will still apply.

Can I claim under my Income Protection (IP) insurance if I have COVID-19?
If you’re unable to work because you’ve been diagnosed with COVID-19 you may be able to claim under your IP insurance. Our usual claim process and eligibility rules will still apply. 

Generally, to be eligible for an IP benefit you’ll need:

  • to have IP insurance on your account
  • to be up to date with your premiums
  • be under the care of a medical practitioner who certifies you’ve stopped work due to your illness; and
  • be off work for longer than your waiting period.

Keep in mind that IP insurance covers total or partial disablement only. It does not cover you against loss of income from business closure, lack of shifts or reduction in hours.

Also, if you had treatment for COVID-19 before your cover commenced, then your condition may be assessed as ‘pre-existing’ and no benefit would be payable, depending on the type of cover you hold.

Will my insurance be cancelled if I lose my job or I’m working reduced hours?
No. Generally, your insurance will continue while you have enough money in your account to pay the premiums.

There are other conditions when your insurance will be cancelled. For example, you reach the maximum age for having our insurance, or your account hasn't had a contribution for 16 months or more and you haven't let us know you want to keep your insurance. You can find the full list of circumstances when your insurance would be cancelled in our Insurance Guide.

Will the conditions of my death and disablement insurance change if I lose my job or I’m working reduced hours?
No, you’ll still be covered as you were previously before you lost your job or had your hours reduced.

Will the conditions of my IP insurance change if I lose my job or I’m working reduced hours?
If you aren’t working, your IP cover will stop once you haven’t been working for 12 months. 

Your benefit payment is based on the total income you earn before tax in the 12 months immediately prior to the date you became disabled. So, if you’ve lost your job or you’re on reduced hours, your benefit could be less than it would have been had you been working full time. To be eligible to claim a benefit under your IP insurance, you must also meet our eligibility criteria.

Can I restart my insurance if it’s cancelled?
Yes, but only if it’s been cancelled for the following reasons:

  • you haven’t had a contribution credited to your account for 16 months or more
  • there are insufficient funds in your account to pay for your cover
  • for IP insurance, you’ve been unemployed for 12 months.

When your cover is cancelled, we’ll send you a letter, which will include further information on how you can restart your cover.

Can I claim IP if I am self-isolated?
Generally, no. For example, if after 14 days of self-isolation you returned to work then you haven’t served your waiting period and no benefit is payable. Most employers provide sick or personal leave for this period. If during your isolation you learn that you have COVID-19 and cease work for longer than your waiting period and you are receiving treatment from a doctor, then our insurer will assess your situation to determine if you’re eligible for a benefit.

Can I get additional cover during the COVID-19 pandemic?
Yes, you can apply at any time. Our normal terms and conditions will apply. Find out more here.

Where can I find more information?
If you’re unsure how you’re affected, call us on 13 64 63. Your insurance with Mine Super is also visible on your online account.

You can find more information about insurance in the Product Disclosure Statement and Insurance Guide at

We can also put you in touch with a financial adviser from Mine Super Financial Advice to discuss your personal situation.


In the current environment and to protect the health and safety of staff, our Employer relationship teams are minimising site-based visits. If you’d like to discuss how Mine Super could provide support or guidance to your employees throughout this period of volatility, please contact us via or through your account manager.