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End of Financial Year Investment Switch Process

Switches at end of financial year and the beginning of the new financial year

The weekly crediting rate cycle is different for the final week of June. In the interest of member equity, Club Super will utilise interim crediting rates for the final week of June and the subsequent weeks in July until the declared weekly crediting rate for 30 June is set. The declared crediting rate for 30 June will be calculated and declared to members no later than 14 business days following the end of the financial year.

Switches submitted in the last week of June will be subject to a different cut off time

The cut off time for receipt of a Change to Member Investment Choice Form is 5:00 p.m. on the last business day prior to 30 June, and for electronic (online) switches, the cut off time is midnight on the last business day prior to 30 June.

Any switch request to an existing account balance received by the above cut off times will be applied to the member’s account effective 30 June. These transactions will be processed and appear on members’ accounts the following week using an interim crediting rate for the last period in the financial year.

Any switch request to an existing account balance received after the above cut off times and in the first two weeks of July will also be processed utilising interim crediting rates for the periods where interim crediting rates have been set. These transactions will be processed and appear on members’ accounts as per the usual crediting rate cut off times and effective dates.

The crediting rate process is different in the last week of June and first few weeks in July. This year the below cut off times, processing timeframes and effective dates for investment switches will apply.

Changes to business as usual are required to ensure that we can most accurately price the Fund earnings to 30 June.

When we receive the switch

What will be the effective date of the switch?

When will the switch be processed?

Will the switch be processed using declared or interim crediting rates?

Switches received after the cut off1 on Thursday, 13 June through to the cut off1 on Thursday, 20 June

Friday, 21 June

Wednesday, 26 June or Thursday, 27 June

Declared to Friday, 21 June

Switches received after the cut off1 on Thursday, 20 June through to the cut off2 on Friday, 28 June

Saturday, 29 June

Thursday, 4 July or Friday, 5 July

Declared up to Friday, 28 June and Interim for Saturday, 29 June and Sunday, 30 June (2 days)

Switches received after the cut off2 on Friday, 28 June through to the cut off1 on Thursday, 4 July

Friday, 5 July

Wednesday, 10 July or Thursday, 11 July

Interim for Saturday, 29 and Sunday 30 June

Switches received after the cut off1 on Thursday, 4 July through to the cut off1 on Thursday, 11 July

Friday, 12 July

Wednesday, 17 July or Thursday, 18 July

Declared up to Friday, 12 July

1 Paper switches: 5.00 pm; electronic (online) switches: midnight.
2 Paper switches: 5.00 pm; electronic (online) switches: midnight on the last business day prior to 30 June.