Investment returns

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Investment returns can be both positive and negative. However, over the long term, investment returns typically help your account balance grow. It’s important to understand how returns are applied to your account, when they are displayed on your transaction listing, and the fees and taxes you pay on your earnings.

How investment returns are applied

Find out more about how investment returns are applied, including an overview of crediting rates. 

A crediting rate is the rate of return the Trustee determines to apply to an investment option.

We calculate interim crediting rates daily using information available at the time, and they are applied to your Flexi Pension each day. You can see an estimate of your account balance based on the available crediting rates at any time by logging in to your account.

To see your total investment returns per calendar month, you can check your transaction listing, which is updated monthly to show the previous month’s investment earnings.
Your transaction listing is generally updated with investment returns on the second working day of the month.

However, following the end of a quarter, you’ll generally see the previous month’s investment returns later than usual.

This is because at the end of each quarter, we calculate a final crediting rate that takes additional information into account (like recent valuations of unlisted assets). This process takes approximately three weeks.

Month When monthly investment returns appear on your transaction listing
January 2nd working day in February
February 2nd working day in March
March 3rd week in April (approx.)
April 2nd working day in May
May 2nd working day in June
June 3rd week in July (approx.)
July 2nd working day in August
August 2nd working day in September
September 3rd week in October (approx.)
October 2nd working day in November
November 2nd working day in December
December 2nd week in January (approx.)

Your investment returns

Your benefit statements for the six-month periods ending 30 June and 31 December will show the investment returns applied to your account for January to June, and July to December respectively.

See how your investment options are performing

Fees and taxes

Investment fees, with other indirect costs (referred to as Indirect Cost Ratios, or ICRs), relate to the cost of managing each investment option but do not include account-based fees. We deduct these fees and costs from the assets of the Fund and from each of our investment options. They are expressed as percentages of the total average net assets in a particular investment option.