Unit prices & earning rates
What’s important to you is also what’s most important to us. When our investments grow, your super does too. That’s why we’re keeping track of it all, so you can feel at ease.
General information only: The following information is provided to members as general information only. Read earning rates and performance below to understand the context of this information.
|Investment option||Earning rate (%)|
Earning rates and performance
Earning rates are needed for daily member transactions and will determine the actual performance a member achieves based on the timing of their individual transactions. The earning rates are determined based on the best available information at the time they are declared. Valuations are fed into the earning rates calculation as soon as practical after they are received.
Investment performance for each investment option is calculated after fees and taxes. Past performance is no indication of future performance. Investment performance is calculated using the actual value of investment option assets as at the end of the quoted performance period and is indicative only of the performance that a member achieves on their investment. Investment performance is based on final valuations as at period end.
Using earning rates to calculate investment performance will provide similar but not identical rates to the published investment performance figures.
Application of earning rates to benefit paymentsEarning rates determined for the dates above reflect close of market valuations on that date. Member benefit payments are generally calculated and processed using the earning rate applicable on the date of processing. Usually, the earning rate applicable on the date of processing is based on valuation information for the day two business days prior to the processing date. This timing reflects when the valuation information is available and the time required to calculate and approve the earning rate. As an example, a lump sum benefit payment calculated and processed on 27 March will generally use the earning rate determined for 25 March, which reflects close of market valuations for 25 March.
How do performance and earnings affect your benefit?Any invested components of your benefit – your member, productivity, and any additional accumulation amounts – will accrue in line with fund earnings, which can be positive or negative.
Your employer component is a notional amount that can’t be invested, and how it grows will depend on the type of membership you hold:
If you claim your benefit as a contributing memberAs a contributing member, you are unable to choose how your funds are invested. Your invested components will be placed in the Default Fund, which is considered a medium-to-high risk investment.
Your Defined Benefit is determined by a formula based on your Accrued Benefit Multiple (ABM) and Final Average Salary (FAS). Your employer component is the balance of your Defined Benefit after your member and productivity components have been deducted, so while your invested components are subject to fund earnings, your total benefit is not impacted.
If you claim your benefit as a PRESERVED memberAs a preserved benefit member, you can choose to place your invested components in either the Default Fund or the Cash Investment Option. Your employer component – which was determined when you ceased contributing to the scheme – increases in line with the Consumer Price Index (CPI).
If you claim your benefit as an associate memberAs an associate member, you can choose to invest the taxed component of your benefit in either the Default Fund or Cash Investment Option.
The untaxed component of your benefit is not invested or affected by Fund performance. This is adjusted by the long-term Treasury Bond Rate.