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Changes to your super from 1 July 2018

On 1 July 2018, some changes are occurring to your Equip account, which we have summarised in a letter you received in the second half of May. On this page, we are outlining some of these changes in greater detail.  

 

Important dates and limited service period

In bringing these changes to you, we need to implement administrative and operational changes which will impact on the way we deliver services over a short period of time.  This will result in a limited service period (LSP) from Wednesday, 27 June until Fri, 13 July 2018.

During this period, the following transactions will be impacted:

  • rollover and benefit payments;
  • family law splitting; and
  • investment switching requests.

Please note that pension payments will be processed as per usual. 

If you are planning on making any of the above changes, you will need to submit your request by close of business Wednesday, 27 June 2018. This is particularly important if you are planning on making additional voluntary contributions for the financial year. 

Below is a timeline of all the important dates that might affect you.

Date What

Wed, 27 June, 3 PM

3 PM - cut-off for any payment requests

3 PM - cut-off for new pension applications

Fri, 29 June

10 - AM cut-off for last-minute member contributions via cheque only in the Melbourne office.

Last day of daily unit pricing until 6 July (see details below).

Fri, 13 July Benefit payments re-commence. 

 

During the LSP, access to your account online will intermittently not be available. We will provide a notice on the site when this is the case, and provide a guide as to when the site will be available again. 

 

Unit pricing during the LSP

Daily unit pricing will be suspended after the price is calculated for 29 June 2018. The 29 June price will also apply for 30 June and 1 July 2018 in accordance with standard practice for end of financial year pricing. The next price calculated will be 6 July 2018 (calculated on 9 July 2018).

The 6 July 2018 price will apply for the entire period between 2 and 6 July 2018, and any contributions received during that period will receive a unit allocation using this price. The allocation will occur once the 6 July 2018 price has been struck.

Check your retirement income with the Equip calculator