Take an interest in how your super is invested.
To switch your investment option, log into out online member portal and switch online. You can also nominate different combinations of investment options for your current account balance and your future contributions.
A request to switch your current account balance that is received before 5pm on a business day will generally be processed on the third business day following the date of receipt.
Check the Super SA website for any variation to this.
A switch made to future contributions will take effect from the time it is processed.
The unit price applied to a switch will represent the market value of an investment option calculated after the switch request.
Here’s some important things you need to know:
- Super SA Select members can invest their super in either the Balanced or the Cash option or invest across a combination of both options.
- The first switch in any financial year is free and there's a $20 fee for every subsequent switch in the same financial year. This fee will be deducted from your Account.
- No switch fee applies for redirecting future contributions.
- When you make a switch, all your units are sold and the money is then used to purchase units in the new option or options. The quantity and value of your units is not transferred between options.
- In the event of a significant variation in the value of the fund, the Chief Executive may freeze the administration processing of exits and switches until such time as the Trustee determines an appropriate course of action. The new unit price is to operate with effect from midnight of the day before the freeze was invoked.
- Where a member's election to change investment options results in an advantage to that member to the detriment of the other members of the scheme, the Trustee's delegate may withhold processing of that member's election.