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.
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 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.
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 $11.10 switching fee on the date the switch becomes effective.
Investment choice only applies to the accumulation component of a Defined Benefit Division account.
For members with an accumulation-based product, 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
For members with an accumulation-based product, 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.
If you were a member of the Fund on 21 April 2012, we would’ve set your future contributions strategy as your most recent investment strategy in which contributions have been allocated on 21 April 2012, until you tell us otherwise.
You can choose or change your future contributions strategy at any time through your account or by completing the Investment choice form.
Before you switch
Occasionally, you might consider it appropriate to switch your accumulation or Flexi Pension investment choice in response to changing circumstances or investment time frames.
Before you decide to switch, make sure you’re doing it for the right reasons.
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.
It’s important to understand the risks and other implications associated with switching your investment option(s). Read the UniSuper investment information contained in your UniSuper membership PDS alongside the How we invest your money booklet, and call or email us for help if there’s anything you don’t understand.
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.
How to make a switch or change your rollover or future contributions strategy
Log in to your account to use our online switching facility. Switches completed online are generally processed more quickly.
Investment choice form
Alternatively, you can complete the Investment choice form, or request a copy by calling us on 1800 331 685. We must receive the form within 30 days of it being signed.
Return your completed form to UniSuper:
Email: firstname.lastname@example.org (completed forms that have been signed and dated can be scanned and emailed to us.)
Level 1, 385 Bourke Street
Melbourne Vic 3000
Fax: +61 3 8831 6141 (please ensure you fax the entire form). We can't accept telephone instructions.
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.
|When your switch request is considered to be 'received'
A switch submitted through your online account is considered received as soon as you click the 'Submit' button.
Investment choice form
A switch submitted through an Investment choice form—by post, email or by a financial adviser—is considered 'received' once it's been scanned and entered into our processing system—rather than when you email it to us or it's delivered to UniSuper via post.
For this reason, switches submitted through your online account are processed more quickly. It's a good idea to bear this in mind when considering how and when you make your switch.
|When your switch becomes effective (processing times)
If we receive your online switch request before 2pm on a Melbourne working day, your investment switch will take effect two working days later.
For example, if you submit a switch request on Monday morning it will take effect on Wednesday (assuming Tuesday is a working day in Melbourne).
If we receive your online switch request after 2pm on a Melbourne working day, your investment switch will take effect three working days later.
For example, if you submit a switch request at 2.30pm on Tuesday it will take effect on Friday (assuming all days are working days in Melbourne).
Investment choice form
We’ll process forms as soon as possible from the date we receive them.
If we process your completed Investment choice form before 2pm on a Melbourne working day, your investment switch will take effect two working days later.
If we process your completed Investment choice form after 2pm on a Melbourne working day, your investment switch will take effect three working days later.
|Your updated investment strategy may not be visible in your online account until a few days after your switch has been processed.
|Your investment while your switch is being processed
Online or investment choice form
If we receive your switch before 2pm on a Melbourne working day, we’ll apply investment returns to your account using the UniSuper crediting rates applicable to your existing investment options for both that day and the next Melbourne working day.
From that point onwards, you’ll be exposed to the investment returns of your newly selected option(s) and we’ll apply investment returns to your account using the UniSuper crediting rates applicable to your updated investment option(s).
Where your investment option(s) include international assets, these rates reflect the close position of the relevant international market on the applicable day.
Example: If we receive your switch request on Monday morning to switch out of the High Growth option and into the Cash option, you’ll continue to earn High Growth option returns (positive or negative) until close of global trading on Tuesday.
From close of global trading on Tuesday onwards, the investment return subsequently applied to your account will reflect the earnings on the Cash option.
This example assumes Tuesday is a working day in Melbourne.
|Switch requests received after 2pm will be deemed to have been received on the next working day.
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.
Remember, your second (and any subsequent) switch within a financial year will incur a $11.10 switching fee on the date the switch becomes effective.
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.
You can switch your investment option(s) free of charge once each financial year. All subsequent switches will incur a $11.10 switching fee. There’s no cost to change your future contributions strategy.
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.