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.

Book a financial planning appointment

How often can I switch investments?

You can switch between investment options at any time. If your investment switch is received by 5:00 pm on Friday (AEST) it will be processed based on the unit price declared for that week. If it’s received later than 5:00 pm on Friday, then your switch will be processed based on the following week’s 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.

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