investment

Important notice: Investment option changes

11 Apr 2022 10 min read

On 31 May 2022, our Moderate Growth, Shares Plus and Socially Responsible Diversified (SRD) investment options will be terminated. 

What’s happening?

We’re terminating our Moderate Growth, Shares Plus and Socially Responsible Diversified (SRD) investment options. If you have funds invested in any of these options, your account will be affected. This will happen in 2 phases:

20 April 2022 — these investment options will be closed to new applicants.

31 May 2022 — these investments options will be terminated (no longer exist).

All members will receive a Significant Event Notice (dated 1 April 2022) relating to these changes.

My account includes investments in a terminating option — what will happen?

Your current investments in SRD, Moderate Growth and Shares Plus will need to be moved to different options. We encourage you to look at the other investment options currently available and make an investment choice.

Unless you make your own investment choice before 4pm (AEST) 18 May 2022, we will automatically move the account balance in your terminating investment options on 31 May per the following table.

Current investment option New investment option
  Accumulation and TTR accounts Income account
Moderate Growth N/A 100% Diversified
Shares Plus 46% Australian Shares and
54% International Shares
46% Australian Shares and
54% International Shares
Socially Responsible Diversified 100% Diversified (MySuper) 100% Diversified

Accumulation account and Defined Benefit members — Future contributions

If you currently have any future contributions directed to any of the terminating options, these will be replaced by the new options in the appropriate proportions.

Transition to retirement and Income account members — Drawdown strategy

You may need to review your drawdown strategy, as your income payments may currently be drawn from a terminating investment option. Your drawdown strategy percentage will be updated so any terminating options will be replaced with the above options percentages.

The impact on your drawdown strategy depends on your current set-up:

Drawdown strategy How it works How you’re impacted
Equal percentage drawdown Your payments are drawn in the same proportions as your investment allocations. Your drawdown strategy percentage will be updated so any terminating options will be replaced with the above options percentages.
Nominated percentage drawdown Your payments are made from one or more of the investment options you have for your account balance, as nominated by you. Your drawdown strategy percentage will be updated so any terminating options will be replaced with the above options percentages.
Priority drawdown Your payments are drawn down in priority order, starting from priority 1. Any terminating option will be replaced with the same priority for the automatic option, noting for Shares Plus, the Australian Shares option will have a higher priority than the International Shares option.

Do I need to do anything?

If you’re happy to be moved to the automatic options with the above future contribution/drawdown strategy changes, you don’t need to do anything.

You will only need to do something if the options we’re automatically switching you to don’t suit you. You can submit an investment switch through Member Online or using a paper Investment switch form at no cost. If we don’t receive instructions from you by 4pm (AEST) 18 May 2022, your investments will be switched automatically on 31 May per the table above.

How do I choose a new investment option?

To change your investment options online, you can:

  • log in to Member Online
  • click on 'My investments' in the Current Investments column
  • select ‘Edit’ and choose your new investment allocations for your account balance.

Why is the Moderate Growth option closing?

Why is the Shares Plus option closing?

Why is the Socially Responsible Diversified option closing?

Responsible and ethical investing is important to me — can I still achieve this without the Socially Responsible Diversified option?

My future contributions are currently being invested in one of the closing options — do I need to do anything?

My income stream payments are currently being drawn from one of the closing options — do I need to do anything?

Will my account balance be affected?

What unit price will be applied for my switch?

Will my investment performance be affected?

How do I know which investment options are right for me?

Can I get help picking investment options?

What’s the last date I can move my investment?

Can I move it elsewhere after 31 May?

Do you charge fees for investment switches?

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