Changing your investment option
It's easy to switch your investments to suit your changing needs. Learn how to change your investments & where to find help if you need it.
- For Employer Sponsored members who do not make an investment choice, their super will be invested in legalsuper’s default investment option, the MySuper balanced option. MySuper balanced is only available to Employer-sponsored members.
- Personal and Spouse members must make an investment selection for all of their account. Where a selection is not made by a new Personal Member for 100% of their initial contribution, the contribution will be returned. Please refer to the Personal Super Additional Information document for further detail.
- Transition to Retirement & Pension members must make an investment choice for their contribution. Where a selection is not made for 100% of their initial contribution, the contribution will be returned. Pension members can also direct the investment option from where their pension payments are paid. If no direction is made, pension payments are made in proportion to the existing balance(s) investment option(s).
Whatever your membership type, your investment needs and attitude towards investment risk will change over time.
legalsuper offers different investment options, so that members can tailor how their super is invested to best suit their personal situation. It's important to know that different investment choices incur different costs. Read more about our fees and the costs of different investments here. We recommend that you seek advice before selecting your an investment options.
What type of investor are you?
If you are finding it difficult to choose an investment option, read about what to consider when choosing an investment option to suit your needs or you can see how your investment mix will impact on your retirement income with the below calculator:
How can I make a choice?
Making an investment switch
You can make an investment choice on any working day, and there is no fee to do so.
Employer-sponsored and Personal and Spouse members can also choose to have their future contributions invested in a different option to that in which their existing balance is invested. Pension members have the option of choosing to invest their account in a number of choice investments and also to choose to have their pension paid from a specified investment option(s).
There are two ways to change your investment option:
- Online: The easiest way to switch options is via MemberAccess. If you haven't already registered for MemberAccess you'll need to do that first.
- With a form: Complete the investment section in the form for your membership type Employer-sponsored; Personal and Spouse or Pension. Please don't forget to sign the member declaration and follow the investment section instructions carefully. Investment instructions that are not correctly completed or member declarations which are unsigned cannot be actioned.
Personal member superannuation change details (157.32 KB)
Pension change details (102.49 KB)
Investment switch timing
When will my investment switch happen?
In the event that you elect to switch investment choices, your investment switch will occur using the next available unit price.
All investment switches are managed using a weekly batch period, which is from Monday 12.01am to Sunday 11.59pm for online transactions, and Monday 12.01am to Friday 1.00pm for instructions received by post or fax. Instructions received by post or fax after 1 pm on Friday, will be treated as having been received on the next Monday, and will be processed in the following weeks batch period.
Member investment choice switches received in this period will be applied to member accounts on the following Thursday (or if that is not a trading day, the next trading day) using the next unit price. Unit prices are updated each Wednesday (or if that is not a trading day, the next trading day).
Please note you may incur a Buy-Sell spread when making an investment switch. See more information about Buy-Sell spreads below.
Example of switch timing and pricing
What is a Buy-Sell Spread?
When a member makes changes to their investments, this triggers a process to trade the underlying assets in a particular investment choice. This trading generates transaction costs, such as brokerage, which are paid for by legalsuper. Other members may also be trading at the same time, which can help offset some these costs. legalsuper is obliged to recover the net transaction costs so that they are not imposed on other members who did not transact.
A buy-sell spread is the difference between entry price and exit price of an investment option, and is a cost incurred by members each time they invest into or withdraw from an investment option. The proceeds from a buy-sell spread is added to the assets of investment option, thereby repaying the other members invested in that option for costs incurred.
The buy-sell spread is quite different from a management fee in that its sole purpose is to preserve equity between members.
Current Buy-Sell Spread
The Buy-Sell spreads listed below are for legalsuper’s investment options for all account types, noting that the MySuper Balanced investment option is only available to Employer-Sponsored members who have not previously made an investment switch.
|Investment Option||Buy-Sell Spread|
|Balanced socially responsible||0.22%|