Are you thinking of switching your investments?
Here’s what you need to know.
When you contribute to your super, your money is invested into a range of investments such as property, Australian and overseas shares, and other assets. There are a range of investment options to choose from. You can either make this decision yourself or your super will automatically be invested into the most appropriate option for you.
At some point in time, you may consider switching your investment options. However, before you do, there are some things you should consider first.
How do I know if I have the right investment option?
The best way to determine this is to access sound financial advice. To get started on this, you can book an appointment with one of our financial planners. Simply click below.
How often can I switch investments?
Catholic Super calculates its unit prices weekly. All investment switches will be processed on a forward pricing basis. There are no fees for switching your investments. You can switch between investment options at any time. If your investment switch is received by 5pm on Friday (AEST) it will be processed based on the unit price declared on the Tuesday of the following week. If your investment switch is received later than 5pm on Friday, then your switch will be recorded as being received in the following week and will be processed based on the following subsequent Tuesday unit price.
Are there any fees for switching my investments?
Catholic Super does not charge fees for switching investments.
How do I know how much I’ve switched?
The amount you switch is not known until we calculate the unit prices for the effective date of your switch. This means that the amount switched will not be the balance you currently see.
For example, when you look at your balance online it is based on the latest available unit price. This is usually from the price for the previous week. When your switch is processed, your balance will be updated with the unit price for the week you switched. The unit price will reflect changes in investment markets which will also impact your balance. This means that the amount switched will not be the same as the balance you last saw.
How long does it take for the investment switch to take effect?
Your switch is usually reflected on your account on the Tuesday of the week after you switched. This is because the unit prices are calculated once investment markets have closed for the week you switched. The unit price is generally calculated on the Monday of the following week and applied to members’ accounts on the Tuesday.
When investment markets are volatile, we may declare a unit price midweek. However, this unit price is not used for investment switching which is only done weekly. If you request more than one switch during a week, we will only process your most recent request.
It’s important that you consider these things before making an investment switch. You should also consider seeking sound financial advice before you make investment switches to your super. You can book an appointment with a financial planner by clicking below.
If you would like to learn more about Catholic Super's investment options please click here.
You can also email us at firstname.lastname@example.org or call us on 1300 655 002.
Authorised by Togethr Trustees Pty Ltd (ABN 64 006 964 049; AFSL 246383), the trustee of MyLifeMyMoney Superannuation Fund (ABN 50 237 896 957; SPIN CSF0100AU). Catholic Super and MyLife MySuper are divisions of MyLifeMyMoney Superannuation Fund. Financial advice services may be provided to members by the trustee's related entity.
Togethr Financial Planning Pty Ltd (ABN 84 124 491 078; AFSL 455010). The information contained herein is general information only. It has been prepared without taking into account your personal investment objectives, financial situation, or needs. It is not intended to be, and should not be, construed in any way as investment, legal or financial advice. Please consider your personal position, objectives, and requirements before taking any action.
© 2020 Togethr Trustees Pty Ltd. For further information please our contact our Service Centre on 1300 655 002 or visit our website: csf.com.au.