Doing so means we can provide the best possible member experience, now and in the future, by enhancing the products and services you’ve come to know and trust.
We know you might have some questions about the changes, so we’ve put together some handy resources to help you understand what they mean for you.
If you would like to stay updated on changes related to superannuation, you can learn more about the latest superannuation rule changes.
Freeze period
We’ll apply a brief freeze period while we transfer your pension account to our new administration system. The freeze period will begin at 2pm on Tuesday, 25 October 2022 for investment switches and 5pm on Thursday, 27 October 2022 for other transactions, and will end at 9am on Thursday, 3 November 2022.
The table below outlines the cut-off dates for us to process requests as normal
| Transaction type | Cut-off date and time |
|---|---|
| Investment switches (Flexi and Term Allocated Pension members only) | 2pm on Tuesday, 25 October 2022 |
|
All other transactions, including: - changes to payment amount, frequency or bank details - withdrawals - rollovers - making or updating binding, non-binding and reversionary nominations - changes to contact details |
5pm on Thursday, 27 October 2022 |
Any requests to make changes to your pension account that are received during the freeze period will start to be addressed after 9am on Thursday, 3 November. These requests won’t be backdated and will be treated as though they were received at 9am on 3 November. We recommend you plan ahead to ensure we receive any change requests before the freeze period begins at 2pm on Tuesday, 25 October.
We treat a paper form as received when the request is entered into our administration system, not when you email it and not when it arrives to us by post.
You’ll continue to receive your chosen income payments during the freeze period. Whilst you can’t make changes to your account during the freeze period if you hold a Flexi Pension or Term Allocated Pension, you can still view it, and your money will continue to be invested in your chosen options.
Read your member letter
We’re sending affected members a letter by post that explains the changes in detail, depending on your pension type. You should receive your copy shortly if you haven’t already.
You can download the letter at any time:
FAQs
If you’ve got further questions about any of the changes we’re making and how they may affect you, our FAQs could help.
When will the changes to my pension come into effect?
The changes we’re making to pension accounts will come into effect from Monday, 31 October 2022.
When’s the freeze period, and what will happen if I request any changes to my account during the freeze period?
The freeze period will begin at 2pm on Tuesday, 25 October 2022 for investment switches and 5pm on Thursday, 27 October 2022 for other transactions and end at 9am on Thursday, 3 November. Any requests to make changes to your pension account will start to be addressed after 9am on Thursday, 3 November. These requests won’t be backdated and will be treated as though they were received at 9am on 3 November. We recommend you plan ahead and request these changes well before the freeze period starts.
I have more than one UniSuper account, and I’ve been asked to check and update my details across these accounts before the freeze period. Why is this important?
Your contact details will soon be the same across each of your UniSuper accounts. If you ever need to change your contact details, you’ll only need to update them once—any changes you make to your details will be applied to all your accounts.
We’ve asked you to check and update your details so that we have your most up to date details as we change over to our new administrative system. If you don’t update these and there are differences across your accounts, we’ll update your details based on our last available record.
Having your details up to date is also a simple yet powerful way to protect your account from fraudulent activity. It also helps us ensure we’re talking to the right person and means you can receive important fund news in a timely manner.
Can I still view my account during the freeze period? (Flexi Pension and Term Allocated Pension members only)
Yes. While you can’t make changes to your pension account during the freeze period, you can still log into your online account at unisuper.com.au.
Will I still receive my income payments during the freeze period?
Yes, your nominated income payments will continue during the freeze period.
Will I need my pension number from 31 October?
No. All pension accounts will be assigned a new account number, which will replace your existing pension number. We’ll be updating our forms with a new ‘account number’ field—you’ll need to provide your account number when requesting any changes to your pension, rather than your existing pension number. Please keep your new account number in a safe place!
I hold a UniSuper super account alongside my pension account. Will I be assigned a new member number?
No. If you hold a UniSuper super account alongside any number of pension accounts, you won’t be assigned a new member number—your current member number will remain the same.
Even if you hold a super account, your pension account or accounts will still be assigned a new account number.
When will you be letting me know what my new details are?
Don’t worry—we’ll write to you with your new account number and member number (if applicable) in November 2022.
Does this mean my login credentials for my account at unisuper.com.au will change? (Flexi Pension and Term Allocated Pension members only)
No. Even though you will receive a new account number, your login credentials for your online account at unisuper.com.au, such as username and password, won’t change.
If your username is currently your pension number and you’d like to update it, please call 1800 331 685.
I hold a Flexi or Term Allocated Pension and my investment return frequency is changing. Does this affect my investment portfolio, or have any financial impacts?
No. The frequency we apply investment returns as a transaction might be changing, but this doesn’t affect your investment portfolio. Your current investments will remain the same, and rest assured this change won’t have any financial impacts, either.
We’re enhancing your online account at unisuper.com.au to display estimated investment returns for each of your investment options since the last applied return—these are included in your estimated account balance.
Download our flyer to learn more about this change.
Administration fee deduction dates are changing. Does that mean I’ll be charged more?
No. Even though the date we deduct the administration fee from your Flexi Pension or Term Allocated Pension account is changing, the amount you’ll be charged isn’t changing. Please note, this fee doesn’t apply to Transition to Retirement (TTR) members.
We’re here to help
We understand you may have questions about these changes. If you’d prefer to speak to someone about these changes, please call 1800 331 685 or email enquiry@unisuper.com.au.