Here’s how to get a head start on your new role.
You’re at work on time, dressed and ready for your first day at the new job. But the elation and stress that comes with meeting new people and trying to get a handle on your new responsibilities means sometimes we forget to do a few important things.
From sorting out your superannuation to making sure you have the right insurance cover for your circumstances – here are five things to get you started.
1. Figure out where you want your super to go
Every new employer will have a ‘default’ superannuation fund, but if you’re happy with your existing super account you can keep using it instead. If that’s the case, make sure your new employer knows you want your superannuation contributions are paid into your existing super fund.
Erick Cordero, Media Super General Manager for Growth, said all you have to do is complete a Standard Choice of Fund form and your fund’s Complying Fund letter, usually available online. Your employer will then have all the information they need to start making contributions to your existing superannuation account.
'This will keep all your super savings in one place, help you avoid unnecessary extra fees and possibly multiple insurance premiums – and over the years this could significantly increase your super savings,' he said.
If your new role is temporary or short term, you can roll the money from the new super account to your existing account when the job is over.
2. Make a good impression on your first day
The good impression doesn’t end with your interview. We don’t mean offer to make everyone a cup of tea or turning up half an hour early. A good impression often boils down to appearing relaxed and capable. So take a few deep breaths to calm your nerves and make an effort to look people in the eye when you meet them for the first time.
3. Check your insurance cover
This ties into deciding which super fund you want to join or keep. Funds generally offer three types of insurance: Death only; Death and Total & Permanent Disablement; and Income Protection.
'If you’re staying with your existing super fund when you change jobs, it’s a good idea to call your fund and check that your insurance cover is still right for you,' Cordero said.
You may want to increase or decrease your level of cover, depending on your new income and circumstances. Ask yourself, what’s changed since you last reviewed your insurance cover? You might find it’s not just the new job that is different. You may have bought a house or started a family.
For those switching to freelance or self-employed work you need to check that you will still be covered.
'Not all super funds provide insurance cover for self-employed and freelance members,' said Cordero.
'As the industry fund for arts and entertainment professionals, Media Super’s insurance offering has been designed to cover freelance and self-employed workers because we understand that peace of mind is important to all our members, regardless of how you’re employed.'
4. Find the coffee
This is also a good way to befriend one of your new colleagues. If you have already had the office tour, ask someone where the best local takeaway coffee is. They might just be your first work-friend, which can make the first few months a lot easier.
Coffee, after all, is just an informal way to network and connect with colleagues.
5. Ask what success looks like in three months
Schedule a meeting with your new boss in the first week. This will give you an opportunity to go over your short, medium and long term goals. Use the meeting to set some clear milestones to work towards in three months’ time. This way you can really hit the ground running and make a great first impression.
This article provides general information only, and does not take into consideration your personal objectives, situation or needs. Before making a decision to combine your superannuation, you should consider any penalties such as exit fees, change to insurance cover or loss of benefits that may apply and, if necessary, consult a qualified financial adviser. 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).
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