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MyLife MySuper and MyLife MyAdvice offices

Brisbane
Level 5, 303 Coronation Drive
Milton QLD 4064
Melbourne
Level 1, 535 Bourke Street
Melbourne VIC 3000
Cairns
Suite 1, 112 Mulgrave Road
Cairns QLD 4870
Perth
St Brigid's Centre
60 John Street
Northbridge WA 6003
Canberra
Unit 3, 59 Wentworth Avenue
Kingston ACT 2604
Ringwood
Level 2, 27 Ringwood Street
Ringwood VIC 3134
Darwin
St John’s College
Hartzer Campus
10 – 54 Salonika Street
The Gardens NT 0820
Sydney
Polding Centre
Level 7, 133 Liverpool Street
Sydney NSW 2000
Geelong
Ashby House
1 Malone Street
Geelong VIC 3220
Warrnambool
Warrnambool Serviced Offices
Suite 3, 715 Raglan Parade
Warrnambool VIC 3280
Hobart
35 Tower Road
New Town TAS 7008
 

 

MySuper product dashboards (Default Strategy)

What is MySuper?

Since 1 January 2014, employers have been required to make Superannuation Guarantee (SG) contributions into an authorised MySuper product on behalf of members who have not made a choice of fund. MyLife MySuper is authorised by the Australian Prudential Regulation Authority to offer our Aggressive and Balanced investment options as our MySuper products. If you do not select an investment option when you join the Fund, we will invest your superannuation according to our Default Strategy.

View the MySuper product dashboards:

 

The Default Strategy

The Default Strategy invests your super in different options depending on your age: your super will be invested in the Aggressive option before age 51, and transition into the Balanced option by age 53 (see the table below).

This strategy draws on the benefits of having your super invested in a high-return/high-risk MySuper option (Aggressive) over the long term, then moves your super to a MySuper option (Balanced) that has a medium-to-high return/risk profile as you near retirement.

How the Default Strategy works

Age Default investment option
Age 50 and under 100% in the Aggressive option
Age 51 2/3 in the Aggressive option and 1/3 in the Balanced option
i.e. One third of the money in the Aggressive option at that time will be switched to the Balanced option.
Age 52 Approx. 1/3 in the Aggressive option and approx. 2/3 in the Balanced option
i.e. Half of the remaining money in the Aggressive option at that time will be switched to the Balanced option.
Age 53 and over 100% in the Balanced option.
i.e. All the money in the Aggressive option at that time will be switched to the Balanced option.

The switches between MySuper investment options through the Default Strategy will happen automatically, within 3 months of each relevant birthday. Just as your account balance is transitioned from one investment option to another, any contributions received will be allocated to the Aggressive and/or Balanced option(s) proportionally according to your age. You can opt into or out of the Default Strategy at any time.

An example
For ease of understanding, this example assumes there are no changes (e.g. contributions or earnings) to the balance each year.
MyLife MySuper member “Michelle” is 47 years old and currently has a super account balance of $300,000 invested 100% in the Aggressive option. The default investment option changes for Michelle will be:

  • At age 51, $100,000 (1/3 of $300,000) will be switched from the Aggressive option to the Balanced option. As a result, Michelle will have $100,000 in the Balanced option and $200,000 in the Aggressive option.
  • At age 52, $100,000 (1/2 of $200,000) will be switched from the Aggressive option to the Balanced option. Therefore Michelle will have $200,000 in the Balanced option and $100,000 in the Aggressive option.
  • At age 53, the remaining $100,000 in the Aggressive option will be switched to the Balanced option. All of Michelle’s $300,000 will be invested in the Balanced option.

 

For more information, please refer to our Investment guide.