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FAQs - investments and Member Investment ChoiceHere are some answers to your frequently asked questions about investments and member investment choice. If the answer to the question you're looking for isn't listed here, just email us, and we'll add it to our list of FAQs. What is Member Investment Choice? What are my investment choices? How do I make an investment choice? What happens if I don’t make an investment choice? How many times can I change my investment choice in a year? If I make a switch, when will it be effective? What is the Health Super Lifecycle Default Strategy? Why does Health Super have a Lifecycle Default Strategy? How can I get more information on investment choice?
What is Member Investment Choice?Member Investment Choice is a program that allows you, (the member) to choose from a number of options and have control over how your superannuation money is invested. The program also allows you to change the way your superannuation is invested as you get closer to your retirement age.
What are my investment choices?Health Super allows you to choose one option per Health Super account from 9 Member Investment Choice options, five Standard options and four Socially Responsible Options. The Standard Options are listed below:
* For these options, you can ask Health Super to invest in Socially Responsible Investments (SRI). SRI only applies to that portion invested in Australian and International shares.
How do I make an investment choice?Simply download the ‘change my investment choice’ form and return it to Health Super. Or, you can apply to change your Member Investment Choice selection online through registering and logging onto Health eSuper. Please carefully read through the section on investments in the current Product Disclosure Statement before making any decisions on investment choices.
What happens if I don’t make an investment choice?If you don’t make an active investment choice, your superannuation will automatically be invested according to the Lifecycle Default Strategy.
How many times can I change my investment choice in a year?Changing your investment choice is called switching. Health Super allows you a maximum of 12 switches each financial year. Your request to make an investment choice switch will be effective the first day of the following month.
If I make a switch, when will it be effective?When you make an investment choice, it will be effective on the first day of the following month.
What is the Health Super Lifecycle Default Strategy?The Health Super Lifecycle Default Strategy is in place for those members who do not make an active member investment choice. It is an innovative set-and-forget strategy that invests members’ super on the basis of their lifecycle. For example, if you are under the age of 50, your super will be invested in the Long-Term Growth option. When you turn 50, your super automatically gets switched to the Medium-Term Growth option. When you turn 60, your super automatically gets switched to the Balanced option.
Why does Health Super default members’ super into a strategy based on age?Health Super’s Lifecycle Default Strategy has been carefully designed on the basis that your investment needs "are likely to" change as you move through various stages in life. In other words, a member aged 30 might want to invest their super more in shares and property and take more risk because they have about 35 years until retirement. Whereas a member aged 60 might want to invest less in shares and property in exchange for greater security.
If I select the Lifecycle Default Strategy, will I be able to invest in Socially Responsible Investments (SRI)?If you actively select the Lifecycle Default Strategy, you will not be able to invest in SRI. The lifecycle default strategy only allows investments in traditional non-SRI investment options. If you would like to actively choose a SRI option you can read about Member Investment Choice.
I am a Defined Benefit member with an accumulation account. Will my Member Investment Choice selection affect both accounts?If you are a Defined Benefit member, your Member Investment Choice selection will only affect your accumulation account, not your Defined Benefit account.
How can I get more information on investment choice?Read the investment section of the current Health Super Product Disclosure Statement or simply call our Superline on Freecall 1800 331 719.
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