It’s important to keep track of and manage your investments. There are a number of ways to monitor the progress of your investments, and adjust your portfolio if you need to.
For accumulation-based or Flexi Pension products, you can change investment options for your existing account balance. This is known as an investment switch.
Switching allows you to respond to significant changes in your personal financial circumstances by altering your investment choice to suit your needs.
You don't have to make a choice
Our investment choice range gives you the ability to choose how you want your super or pension invested. However, if you prefer not to make a choice, you’ll automatically be invested in the Balanced option, our default option for super or pension members.
A switch doesn’t change the way your future contributions are invested, so if you’re an accumulation member, you need to also consider updating your future contributions strategy when you make a switch (bearing in mind that future contribution strategies don’t apply to UniSuper Flexi Pensions).
You can switch your investment option(s) at any time by logging in to your account (the fastest way to switch), or completing the Investment choice form relevant to your product.
Your first switch in each financial year is free of charge. Any subsequent switches within that financial year will incur a $9.85 switching fee on the date the switch becomes effective.
Investment choice only applies to the accumulation component of a Defined Benefit Division account.
Switch faster online
Switches submitted through your online account are processed more quickly than paper-based switches. You should consider this before deciding how and when to switch.
Rollover strategy
If you have an accumulation account or component, you can choose the way rollovers (or transfers) to your account are invested. This is known as your rollover strategy.
Your rollover strategy will apply to all future rollovers to your account from when we process it, until you change it. You can update your rollover strategy at any time (bearing in mind that rollover strategies don’t apply to UniSuper Flexi Pensions).
The investment option(s) for your existing account balance and your future contributions strategy will remain the same.
No fee applies if you change your rollover strategy. If you don’t select a rollover strategy, all rollovers to your account will be invested in line with your future contributions strategy.
You can choose or change your rollover strategy at any time by logging in to your account, or completing an Investment choice form.
Future contributions strategy
If you have an accumulation account or component, you can choose the way contributions to your account are invested from our range of investment options. This is known as your future contributions strategy.
You can change your future contributions strategy at any time (bearing in mind that future contribution strategies don’t apply to UniSuper Flexi Pensions) but it won’t affect the way your existing account balance is invested. No fee applies if you change your future contributions strategy.
If you haven’t nominated a future contribution strategy at the time we receive your contribution, your contribution will be invested in our default Balanced (MySuper) option.
You can choose or change your future contributions strategy at any time through your account or by completing the Investment choice form.
Transferring members
If you’ve transferred from one UniSuper membership category to another and haven’t provided a new future contributions strategy, any contributions received on or after the transfer date will be invested as per your previous membership category future contributions strategy.
Switch processing
| When we consider your switch 'received' |
ONLINE
A switch submitted through your online account is quicker because we consider it 'received' as soon as it's submitted. |
Investment choice form
A switch submitted through an Investment choice form—whether by post, email or a financial adviser—is considered 'received' once it’s been entered into our administration system (rather than when you email it or it’s been delivered to us by post).
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| When your switch becomes effective |
If your switch is ‘received’ before 2.00pm on a Melbourne business day, it will become effective two business days later.
You’ll continue to receive investment returns based on your existing investment option(s) until the end of the following Melbourne business day.
Investment returns based on your new investment option(s) will apply from the subsequent Melbourne business day.
Your updated investment option(s) may not be visible in your online account for several days.
Example
Raj submits his switch from the High Growth option into the Balanced option at 11.30am on Monday. His account will continue to earn returns from the High Growth option (positive or negative) until close of global trading on Tuesday.
From close of global trading on Tuesday onwards, the investment returns applied to Raj’s account will reflect the earnings of the Balanced option.
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If your switch is ‘received’ after 2.00pm on a Melbourne business (or a non-business) day, it will become effective three Melbourne business days later.
We’ll consider your switch ‘received’ on the next Melbourne business day.
Your investment returns will continue to be based on your existing investment option(s) until the end of the Melbourne business day after your switch is ‘received’.
Investment returns based on your new investment option(s) will apply from the Melbourne business day after that.
Your updated investment option(s) may not be visible in your online account for several days.
Example
Ling submits her switch from the Conservative option into the Growth option at 4.00pm on Monday.
Her account will continue to earn returns from the Conservative option (positive or negative) until close of global trading on Wednesday.
From close of global trading on Wednesday, the investment returns applied to Ling’s account will reflect the earnings of the Growth option.
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What if I want to replace the switch I've just made?
If you've submitted a switch before 2pm on a Melbourne working day, you can replace it with a new switch before 2pm that same day and the first one won't get processed.
If you’ve switched investments through your online account and the 2pm cut-off has passed, you’ll need to make a new switch to replace the one you want to cancel as you can’t cancel a pending switch after the 2pm cut-off.
If you want to replace a switch you first made using a paper Investment choice form, you can make a new switch through your online account. The same timing restrictions apply.
What is portfolio rebalancing?
Depending on how you choose to invest your accumulation-based or Flexi Pension product, and if you’re invested in more than one option, from time-to-time you may need to check and possibly adjust how it’s invested. This process is called rebalancing.
By checking your portfolio for such changes, and rebalancing your portfolio (through switching your investment choices), you can ensure that your accumulation super remains invested according to your personal financial objectives.
For pension members, it’s important to review your drawdown order instructions from time-to-time. This is because drawing payments from your pension will change how your remaining account balance is spread across your chosen investment option(s) and reduce the degree of diversification.
Over time, the allocation of your remaining account balance between options may reflect a strategy which is very different from your original intentions. You should reconsider whether this is appropriate based on your financial needs and circumstances.
Get in touch
If you would like more information or help with switching your investments, contact us.
For help with choosing the right investment option for you, contact UniSuper Advice to speak to a financial adviser.