FAQs for Investment Changes SEN
1. Why is Super SA making changes to investment options?
We recently undertook a major review of the investment strategies and options, and these updates reflect shifts in investment markets and the superannuation sector.
2. Do I need to do anything?
If you are comfortable with the changes outlined (as they apply to your current option/s), you do not need to take any further action.
3. Is it a good time to switch my investment option?
This depends on the type of change you are considering and your investor profile, which takes into consideration a range of factors including your investment time horizon.It is also important to remember that investment markets are cyclical in nature.
Switching investment options is an important decision and it is strongly recommended you seek advice from a licensed financial planner before making any decisions.
4. How do I review my risk profile?
You can use you can use the ‘What type of investor am I?’ calculator on our website.
5. What is my current investment option?
You can log into the member portal (see 6. for how to do this) or check your Annual Statement.
If you are a Triple S member:
On commencement of Triple S membership your super is automatically invested in the default investment option – Balanced – where it remains unless you make a switch.
At any time you can switch the funds in your current account balance to one of the other seven investment options or you can choose to invest it across any combination of the available investment options, providing the total is equal to 100%. You can also choose to do this to your future contributions and rollovers.
6. How do I log into the Member Portal to find out in which option(s) my super is currently invested?
The login button is on the top right hand corner of the home page, or you can go here to find some helpful tips on registering and logging in.Once logged in, click on the scheme or product you want to check, eg Triple S, and scroll down until you locate the pie chart and you can see how your funds are invested.Alternatively, these details will also be included in your Annual Statement which will be mailed to you from October 2019.
7. How do I keep my current investment choice profile?
As with any decision, we strongly suggest that you seek appropriate financial advice, to determine what redistribution between options (if any) may be appropriate, as well as the timing of any changes.
8. How do I change my investment option(s)?
It’s important to do your homework before changing or switching investment options.
The quickest and easiest way to switch your investment option is to visit our online member portal. Or you can complete and sign the Investment Choice form and send it to Super SA.
9. Where can I find information about investments and investment options?
For more information on the Triple S investment options see the Triple S Investment Guide.
For more information on the Super SA Select investment options see the Super SA Select Investment fact sheet.
For more information on the Flexible Rollover Product investment options see the FRP Investment Guide.
For more information on the Income Stream investment options see the Income Stream Investment Guide.
For more information on the Lump Sum scheme investment options see the Lump Sum Investment fact sheet.
10. Where do I go for financial advice and do I have to pay for it?
You can choose your own financial planner or you can take advantage of the commission-free service available through Industry Fund Services (IFS).
IFS financial planners charge a fixed up front fee for their service. If you would like to talk to Industry Fund Services, call them on 1300 162 348 to make an appointment.
The first interview is free and if you decide not to proceed with a plan, there’s no cost to you. No advice will be given at your first interview as it’s a fact-finding appointment.
If you decide to arrange a second appointment, you can request to pay the fee directly from your Triple S or Flexible Rollover Product account.