F.A.Q. – Financial Markets Volatility
The current market movements, due to the spread of coronavirus (COVID-19) has prompted an increase in member enquiries.
We understand market volatility can be unsettling. Consistent with our member-centric approach, at Super SA we are taking all reasonable steps to meet enquiry demands. It’s important to us that we provide our members with timely and up-to-date information to help you make informed decisions.
What’s happening with the stock exchange?
The stock market is experiencing some market volatility due to the spread of coronavirus (COVID-19).You can read a full report, published by Super SA’s investment manager Funds SA here.
Are the markets impacting my superannuation balance?
The short answer is that it's likely to effect your superannuation balance. Funds SA is responsible for the investment of funds under management and although portfolios are not immune to the volatility stemming from share markets, members investment options remain well diversified. Super SA’s asset mix, including high quality bonds, property, private equity and other unlisted assets, have helped to lessen the gyrations and deliver a smoother return profile for members.
How do I know what investment option is right for me?
Super SA cannot provide you with personal financial advice. When choosing an investment option it’s important to understand your individual risk profile and time horizon. Use the What type of investor am I? calculator in the Knowledge Centre section of the website to find out what level of risk you are comfortable with. Further details of this can be found in the Investment Fact Sheet.
To find a financial adviser contact the Financial Planning Association of Australia.
What support can Super SA provide?
Super SA is responsible for the administration of the superannuation schemes and can assist you with the following;
- Holding seminars outlining important information about saving for retirement
- Facilitating registration and logging onto the self-service member portal
- Helping you understand investment switches
- Lodging super roll in, roll out and investment switches
- Providing tools and resources to assist you in making informed choices about your superannuation.
How can I check my superannuation balance?
*Due to unit pricing procedure the current online account balance represents the market valuations 3 business days prior, .
How do I check and change my personal details?
Online: You can check and update your personal details by logging into the member portal on the Super SA website here or by calling Super SA on 1300 369 315.
Form: You can change your personal details by completing a form which can be found here.
I'm close to retirement. How do I find out more about my super?
We encourage members to find out as much as you can about your super as well as your options for retirement.
Here are some things to think about:
- You might like to consider attending a free My Retirement seminar geared towards your Super SA scheme to get a good understanding of the options available to you.
- Have you considered getting professional financial advice? You may wish to choose your own professional financial adviser. If you need help you can contact: Financial Planning Association of Australia.
Can I get help with my finances?
Super SA cannot provide financial advice. A financial adviser can provide you with information about your financial options and choices, including your super, and help you to identify and start working towards your financial goals. To find a financial adviser contact the Financial Planning Association of Australia.
I need to know what to do with my super with the markets as they are.
Super SA cannot provide financial advice. A financial adviser can provide you with information about your financial options and choices. To find a financial adviser contact the Financial Planning Association of Australia.
Should I move my investments into cash?
Unfortunately Super SA cannot provide investment advice. We remind members that investment returns can be volatile in the short-term and an important discipline is to remain focussed on the long-term with a diverse portfolio.
It’s not easy to time entry to, or exits from, markets. Taking information from Funds SA market commentary; selling out of more risky options (i.e. those options with larger allocations to assets such as shares and property) and switching into less risky options (such as cash and options with higher allocations to fixed interest) can be costly over the longer term as it effectively locks in the losses which result from poor investment markets.
A financial adviser can provide you with information about your financial options and choices. To find a financial adviser contact the Financial Planning Association of Australia.
How do I switch my investment options?
If you’re sure you want to switch your investment options once you've done your research and sought the advice you need, please head to the website and read the switching process for your scheme:
Please note that the investment switches unit price is calculated on the market valuation at Close of Business on the day the application is received. This generally takes 3 business days to be processed, however the unit price is secured from the day of the application.
Why does it take 3 days for my investments to switch?
It’s quite common for Superannuation funds to take a few days for an investment switch to take effect. Super SA's investment manager Funds SA need to calculate the changes to the unit price which reflects changes in the value of the underlying investments, this generally takes 3 business days. The unit price at the date of your switch reflects the market valuation at the close of business of the day you requested the switch. That means if you submit the application on business day 1, you’ll receive the unit price as at business day 4 which reflects the close of market on business day 1.
For example: You request to switch your investment option on Monday 2 March 2020, this means your switch will become effective from Thursday 5 March 2020. The unit price used to switch your investments on Thursday 5 March will reflect what happened in the market on Monday 2 March when you made the request. If the markets rise or fall between 3 March and 5 March, this does not affect the unit price for your switch.
When requesting a switch you cannot see what the effective unit price will be as this is not provided until 3 business days later.