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Home Investments Direct Investment Option How to invest in Direct Investment Option (DIO)

How to invest in Direct Investment Option (DIO)

You can establish a DIO account online and start trading in just a few days. Learn how to get started, how to make transactions, and how to transfer your investments from your super to your pension account.

If you need some more help, you can follow the steps below.

How to open your DIO account and start trading

Step 1: Open your DIO account

You need to be a legalsuper member to open a DIO. If you're not already a member join here, otherwise follow these steps:

  • Read the relevant section of legalsuper’s Product Disclosure Statement;.
  • Log in to MemberAccess  and go to the ‘Investments’ tab.
  • Enter your details to register a 'Free' or 'Full Access' Direct Investment Option account.
  • If you wish to trade as a Full Access user, transfer money across to your Cash account before trading.

Step 2: Transfer funds into your DIO Cash account

If you have chosen to become a Full Access User, you will be requested to transfer cash from your other legalsuper investments to your Direct Investment account. 

The DIO Cash account will be used to move money into or out of the DIO, settle fees and costs for the purchase of investments, brokerage and some account fees and for any interest, dividends (not being reinvested through a Dividend Reinvestment Plan) and tax to be paid into or out of the account.

The DIO Cash account will increase with all dividends (not being reinvested through a Dividend Reinvestment Plan), distributions, interest, maturities from Term Deposits and the proceeds of any sale of investments. The impact of pending settlements, e.g. unsettled trades and fees may reduce the available cash to make further investments.

 A minimum balance of $250 must be maintained and any interest earned in the DIO Cash account is calculated daily and paid monthly in arrears on or around the first National Business Day of the following month. 

To transfer funds to your Cash account select ‘Transfer In’ and enter the amount you wish to transfer to your DIO account. Transfers made before 4.00pm (AEST) will take effect two national business days after receipt of your request. You will not be able to transact until your transferred funds have been credited into your Cash Account. 

Once the funds have been received into your Cash account, you can commence purchasing shares, ETFs, LICs and/or Term Deposits. 

You must retain at least $250 in your Cash Account at any point in time so it is important to transfer enough funds to cover this minimum and any fees and costs that may apply, and any additional amount you wish to invest.

Step 3: Start Direct investing

Once a minimum balance of $250, plus enough money to cover the acquisition of any new investments, and any related fees and taxes is credited to your DIO Cash Account, you can start investing.

Step 4: Transfer your DIO to a new legalsuper account

If you are a member of legalsuper with some of your account invested in the DIO, you may be able to transfer your Direct Investments from your existing legalsuper account to commence a new legalsuper account without having to sell down investments.

Please note Direct Investments are not available to Transition to Retirement Pension members & transfers for members with Term Deposits are not permitted.

Existing legalsuper accountNew legalsuper account

What are the benefits of transferring Direct Investments? 

If you are able to transfer your DIO account, the benefits may include: 

  • No liability for capital gains tax on unrealised gains on assets transferred and subsequently sold.
  • No ‘out of market risks’* associated with selling and repurchasing investments.
  • No brokerage costs or early redemption fees.

 * Purchase price of a pension includes the full value of all assets held by the DIO account on the date of transfer of the DIO account.

Eligibility requirements 

  • The transfer will not result in less than $3,000 being invested in your non-DIO investments.
  • That there are no pending cash transfers, are no unsettled trades in the member’s account, no stocks with a mandatory open corporate action or an election on a non-mandatory corporate action, and there are no share holdings in delisted companies.
  • You must accept the Terms and conditions of the transfer.