You can choose how your super is invested
When to switch
You may want to switch your investments when your circumstances or investment timeframes change. Before you do switch, make sure you’re doing it for the right reasons.
There are risks and other implications associated with switching your investments. These are explained in your product disclosure statement. Simply switching investment options in an effort to chase higher short-term returns could mean that you lose out over time. This is because investment markets are continually changing—by the time you react to one set of market conditions, the market may have already changed again. Super is a long-term investment that’s well served by taking a long-term view.
Thinking about making a switch? A UniSuper adviser can help you figure out what investment mix is right for you. Contact UniSuper Advice on 1800 823 842 or email advice@unisuper.com.au
Rebalancing your portfolio
Depending on how your investments perform or how your pension payments are withdrawn, you may need to check and adjust your investments from time to time.
Reviewing and switching your investments can help ensure:
- the percentage invested in each of your options matches your investment strategy
- your account is diversified so that any poorly performing investments may be offset by better-performing investments.
What you can change
How your existing balance is invested
You can switch any of your investments in your Accumulation 1, Accumulation 2 or Personal Account, or your Flexi Pension.
If you're in the Defined Benefit Division (DBD), you can change your investments for the accumulation component of your super.
How your future contributions and rollovers are invested
Investment switches made to your existing account balance don't automatically apply to contributions and rollovers received after the switch has been made effective.
Investment switches of the existing balance include any rollovers and contributions up to the point the switch is made effective.
What are future contributions and rollovers?
Future contributions are payments made into your super account balance in the future. For example, payments made by your employer or payments you make yourself.
Rollovers are when you move money from another super fund into your UniSuper account. If you don’t choose a rollover strategy, all rollovers to your account will be invested in line with your future contributions strategy.
Transferring from one UniSuper product to another?
If you haven’t chosen a new future contributions strategy, any contributions received on or after the transfer date will be invested as per your previous future contributions strategy.
How switches are processed
The date your switch becomes effective depends on when we receive your request and how you submit it.
Switching online is the quickest option. We consider your switch 'received' as soon as it's submitted.
Another option is to complete the paper form and submit it by post, email or via a financial adviser. We consider your switch 'received' once it’s been entered into our administration system, not when it’s been emailed or delivered to us by post.
When your switch becomes effective
Changes to your existing balance
- Requests received before 2pm on a Melbourne business day are processed two Melbourne business days later.
- Requests received after 2pm on a Melbourne business day are processed three Melbourne business days later.
- Requests received on non-business days are regarded as received before 2pm the next Melbourne business day.
- A Melbourne business day is any day that is not a weekend or public holiday in the State of Victoria.
- Investment returns applied to your account will reflect the crediting rates of your existing investment options up to and including the calendar day prior to processing.
- Investment returns include returns up to the close of regular trading hours for global security exchanges for that trading day. For example, for equities traded on the Australian Securities Exchange (ASX), this is 4pm Sydney time and for equities traded on the New York Stock Exchange (NYSE), this is 4pm New York time.
If UniSuper’s offices are closed on Melbourne business days (for example, over Christmas) the transaction will take effect in accordance with the above timeframes (as if the offices were open) but won’t appear on MemberOnline until after UniSuper’s offices reopen.
Changes to future contribution and rollover strategies
Changes to your future contribution and rollover strategies are effective as soon as your request is made.
Investment switches made to your existing account balance don't automatically apply to contributions and rollovers received after the switch has been made effective. Investment switches of the existing balance include any rollovers and contributions up to the point the switch is made effective.
Changed your mind?
If you’ve submitted an investment switch request but want to change it, you may be able to replace it with a new request.
Existing balance
- If you've submitted a switch online before 2.00pm on a Melbourne working day, you can replace it with a new online switch before 2.00pm that same day and the first one you made won't get processed.
- If you've switched investments online and the 2.00pm cut-off has passed, you can’t modify this request. Instead, you'll need to submit a new switch request.
Future contributions
You can change these at any time.
Changes made using the paper form
If you want to replace a switch you first made using a paper Investment choice form, please call us before attempting to replace your switch as:
- your paper-based switch may be in progress (even if it’s not yet visible online), and
- the replacement switch you make online may be incorrectly overridden by your original paper-based request.
If you'd rather use a form, please contact our Helpline using the details below.
