Good news! We have now finalised the move to our new administrator, Mercer (Australia) Pty Ltd.
We’ve put together some FAQs to help you understand some of the changes that have occurred as part of the move.
Do I have a new member number?
Yes, all Australian Ethical members have been sent a new member number to use from 11 December 2017. You will receive these details via or email or mail, depending on your communication preferences. Please keep these details safe as you’ll need to use them whenever you log in to your account.
Is there a new member website?
Yes. When you log in, you’ll notice some improvements including a new ‘Dashboard’ which provides a snapshot of your account details such as your account balance, investments and insurance – with links through to more detailed information. You can get familiar with our new website by taking this interactive tour.
How do I get online access to my account?
If you’re logging in for the first time after 11 December, please enter your new member number which you will receive by email or letter, depending on your communication preferences. When you log in, you’ll need to reset your PIN/password as part of this process – or if you’d prefer, give us a call on 1300 134 337 and we’ll do this for you over the phone.
Can I access my account on my mobile phone?
Yes! You can access your account via your smart phone or tablet. We’ve designed the site to be fully responsive, that means no matter what device you access your account on (your home or work computer, tablet or phone), you’ll have the same experience.
Have my BPAY details changed?
Yes, your BPAY details were updated on 11 December. You can find your new details by logging into your account and heading to ‘Your personal details’ page. Otherwise you can give us a call and we’ll be able to give you these details over the phone.
Don’t forget to update your BPAY details in any banking apps you might have.
BPAY is the only way you can make after-tax contributions, as we’ll no longer accept payments by cheque or direct debit.
Do I need to tell my employer anything?
You may want to provide your payroll manager with your new member number once you receive it.
What is the change to unit pricing?
From 11 December 2017 we moved from historical to forward unit pricing. Forward daily unit pricing is generally considered to be ‘best practice’ in the financial services industry. The change allows you to see more up to date information about the value of your investment.
It takes up to two business days to calculate the unit price we apply to your transaction request. During these two days, we calculate the value of all the assets we invest in and the number of units on issue, which is affected by contributions and withdrawals. We need these valuations before we can accurately calculate the unit price for any of our investment options.
How does this work when I contribute to my super account?
When you make a contribution (or add some money to your super), you receive units in the investment option(s) you have chosen. The number of units you receive depends on how much you add and the unit price of your chosen investment option. In the same way that we use money coming into your account to buy additional units, we also sell units whenever money comes out of your account.
What about when I switch or change my investment options?
You can change your investment option at any time by logging in to your account and heading to the ‘Investments’ section. When you switch, we apply the unit price for the day your request is received.
Are there different unit prices for super and pension accounts?
Yes. They’re different because the earnings for super are subject to tax and other expenses, whereas pension accounts are tax free.
Where can I find the daily unit price for each investment option?
Our prices will still be in the same place on our website, we’ll just move to a daily format after the move. You can go here to see daily superannuation prices and here to see daily pension unit prices.
Are there any changes to investment options?
Only a simple name change which means that from 1 December 2017, our Smaller Companies option will be renamed the Australian Shares option. We’ve updated the name so it’s more in line with what this option invests in but there’s no change to the asset allocation or investment objectives. You can check out how all of our options are invested by heading to the Product Disclosure Statement on our website.
Are there any other changes?
We also have a new postal address:
Australian Ethical Super Locked Bag 20013
Melbourne VIC 3001
But there’s no change to our phone number which is still 1300 134 337.
Australian Ethical Investment Ltd (ABN 47 003 188 930; Australian Financial Services Licence No. 229949) is the Responsible Entity and Investment Manager of the Australian Ethical Managed Investment Funds. Interests in the Australian Ethical Retail Superannuation Fund (ABN 49 633 667 743; Fund Registration No. R1004731) are offered by Australian Ethical Investment Ltd by arrangement with its subsidiary and trustee of the Super Fund, Australian Ethical Superannuation Pty Ltd (ABN 43 079 259 733, Registerable Superannuation Entity Licence No. L0001441). The information contained in this document is general information only, and does not take into account your individual investment objectives, financial situation or needs. Before acting on it, you should consider seeking independent financial advice that is tailored to suit your personal circumstances and should refer to the Financial Services Guide, Product Disclosure Statements and Additional Information Booklets available on our website (www.australianethical.com.au). Certain statements in this document may relate to the future. Such statements involve known and unknown risks and uncertainties and other important factors that could cause the actual results, performance or achievements to be materially different from expected future results. Australian Ethical Investment Ltd does not give any representation, assurance or guarantee that the events expressed or implied in any forward looking statements in this document will actually occur and you are cautioned not to place undue reliance on such statements. This document is intended to provide a summary and general overview concerning matters of interest and is correct as at the date of publication. It has not been subject to auditor review. Australian Ethical Investment Ltd does not accept any liability, either directly or indirectly, arising from any person relying, either wholly or partially, upon any information shown in, or omitted from, this document.
Under no circumstances will Australian Ethical Investment Ltd be liable for any loss or damage caused by your reliance on information obtained from this document. You should consider seeking independent advice from a legal or other professional adviser before acting in response to the content of this document.