We’re changing our MySuper investment option

We’re making changes to give members who are invested in MySuper more opportunity to grow their super while they’re younger. 

What are the changes?

Currently, our MySuper option has a long-term allocation of 70% growth and 30% defensive assets. We’re changing the way MySuper works to provide members a long-term allocation mix of growth investments and defensive investments that changes as they age.

When members are younger, they’ll have a long-term allocation of 85% growth investments and 15% defensive investments — to allow their super to grow faster. As they get closer to retirement, we’ll gradually move some of their MySuper balance towards more defensive investments, which may help to reduce the impact of market ups and downs. When they reach 65, they’ll have a long-term allocation of 70% growth investments and 30% defensive investments.

There will be no changes to the investment fee although there’ll be an increase in indirect costs.

The graph below shows the gradual change in asset allocation for members aged 55 - 65

Other changes for all members

We’ll also be removing the exit fee, contributions splitting fee and family law split fee.

Who’s impacted?

·         MySuper changes: Will affect members invested in the MySuper investment option. We’ll write to them ahead of the changes.

·         Other fee changes: Will affect all members.

When will the changes be made?

We’ll be making these changes from 23 March 2019.

What do I need to do?

You don’t need to take any action. If you’re invested in MySuper, you’ll receive a letter outlining the details of the change.

We're here to help

If you have any questions, please speak to your financial adviser or call us on 1300 55 7586, between 8.00am and 7.00pm AEST (8.00pm daylight savings time), Monday to Friday.

 

Important information

This document contains general information only and so doesn’t take into account your personal financial situation or individual needs. Before acting on the information you should consider whether it is appropriate to your personal circumstances. We recommend that you consider the Product Disclosure Statement (PDS) before you make any decisions about your superannuation. The changes we’re making to MySuper will be reflected in the PDS available from 23 March 2019. If you need any help in making a decision we recommend that you seek advice from a qualified financial adviser. To obtain a copy of the relevant PDS please contact us on 1300 55 7586. NULIS Nominees (Australia) Limited ABN 80 008 515 633 AFSL 236465. Part of the National Australia Bank Group of Companies. An investment with NULIS Nominees (Australia) Limited is not a deposit or liability of, and is not guaranteed by, NAB.