Changing your investment options 1
As a Maritime Super member, you can elect to have a mixture of investment options.
For instance, you may choose to have all of your money in Growth or some in Growth and some in Cash Enhanced and Conservative, for example.
You can choose to change your investment option just for your future contributions or pension payments (if applicable), or you can change all or part of your existing account balance.
Asset classes (such as shares, property, fixed interest and cash) perform differently at different times and, since each investment option has its own investment mix, each will have its own set of investment risks.
Members also have different priorities when it comes to investing their super. You will need to feel comfortable with the investment option(s) you choose so that you are not tempted to switch too often.
We allow a maximum of 12 switches per year per member. Switching is free of charge to members.
Changing your investment option(s)
If you decide that you'd like to change your investment option(s), simply complete the Investment switching form and return it to us.
We will confirm the amount and details of any switch once your request has been
processed.
Please check the details of the letter carefully to ensure that we have correctly understood your intentions.
When does switching take effect?
Switches take effect on the Wednesday of each week and will only be implemented on receipt of a correctly completed Investment switching form or Variation of Pension Details and Investment Options form (if you are a pensioner) received before 5pm AEST on the preceding Sunday. Investment crediting rate(s) for a Wednesday are generally not declared until the next business day. It may then take us a couple of days to issue your confirmation. If you do not receive your switch acknowledgement by the Friday of the following week, you should contact us to confirm that your switch request has been received and processed.
Please note that Maritime Super may nominate an alternative day to process a switch request and may delay or suspend switches at its discretion.
To request an investment switch, we must receive a completed Investment Switching form or Variation of Pension Details and Investment Options form (if you are a pensioner) from you.
What you should think about before switching
When reviewing your investments to decide whether you'd like to stay with the same option(s) or switch, make sure you think about your investment timeframe (or how long before you need to access your super) and the amount of risk you are comfortable with.
People's attitude to risk varies widely, so when choosing an investment strategy it's important for you to know how you feel about a negative return from time to time, and to get the right balance between risk and return given your levels of tolerance. Learn more about choosing your investment option.
If you would like help in working out what's right for you, a licensed financial planner can work with you to choose the right investment option to suit your needs and goals. To arrange an appointment with a qualified planner, contact Member Services.
While the option to switch means you are not locked into one investment strategy for a period of time, we encourage all members to consider their options carefully. It is generally not a good investment strategy to switch investment options too frequently, or to try and pick the best performing options. Frequent switching could result in lower returns over the longer term.
1 The ability to switch and/or nominate investment options does not apply to the following pensions:
Stevedores division
Short Term Guaranteed Income pensions
Fixed Term Income pensions
Seafarers division
Fixed-Term pensions
Lifetime pensions