From 1 April 2019, the member investment choice Cash Option will be invested solely into a bank account with ANZ Bank.
ANZ will pay interest on the cash held in the account at a rate equal to the Reserve Bank of Australia (RBA) cash rate plus 0.75 per cent p.a.
The return objective and risk level of the Cash Option will remain unchanged. The Cash Option has a very low risk of negative returns, and it will only generate cash-like returns.
How to choose an option:
As a rule of thumb, when you select options, you might want to consider your age, how long you plan to contribute to super, and your feelings about risk (how much risk are you happy to take on?).
When you read the descriptions for each investment option you should ask yourself the following questions:
- Is the goal and strategy of the option something I am comfortable with?
- Is the risk level acceptable?
- Does the strategy match my investment timeframe?
- Am I happy with where the money is invested – the ‘asset allocation’?
To find out how to choose an investment option, click here. Keep in mind that the information regarding the Cash Option will be updated on 1 April 2019.
As 100% of the Cash Option will be invested in an ANZ Bank account, you can switch funds into or out of the Cash investment option at any time. The Trustee will only withdraw monies you have invested in the Cash investment option from the ANZ Bank at your direction.
For more information, please call our Member Hotline on 1800 680 627 or Pension Hotline on 1800 204 194 8am – 6pm, Monday to Friday AEST and we’ll be happy to help.