We give you up to date information about your account balance
CareSuper uses unit prices to calculate members’ superannuation balances and report investment performance.
Unit pricing gives members up to date information about their account balance, allowing you to see the change in your account balance from week to week.
How do unit prices work?
When you invest in one of CareSuper’s 7 Managed or 5 Asset Class options you are allocated a number of units in that option.
The number of units allocated to you will depend on how much money you have invested and the option’s buy price. For instance, if you invest $10,000 and the buy price is $1 per unit you will have 10,000 units in that option.
The unit price changes over time depending on the investment performance of the option. Positive net investment returns mean the unit price goes up. If net investment performance is negative, the unit price goes down.
Fees, contribution taxes, insurance premiums or other payments are deducted from your account by selling units.
When you withdraw your money from an option the sell price applies. The sell price reflects how much each unit you hold in an option is worth at that time.
- Any money that goes into your account buys a number of units in your selected option(s)
- Any deductions from your account involve the sale of units from your selected option(s)
- Any fees, taxes, insurance premiums, pension payments or other costs that are deducted from your account involve the sale of units from your selected option(s), and
- All net investment returns are reflected in the unit price of each option. Unit prices are calculated net of investment fees and investment taxes.
Buy prices and sell prices
|Buy price||Sell price|
|A buy price is the price applied when you invest in an investment option. For example, when your employer makes a contribution to your account you will be allocated units at the buy price.||A sell price is the price applied when money is withdrawn from an investment option, including withdrawals from your account for investment switches and payments, direct fees, insurance premiums and tax deducted directly from your account.|
How often are prices calculated?
CareSuper’s standard process is to calculate prices on a weekly basis. This will allow you to see the change in your account balance from week to week. We’ll generally value our investment options as at the close of business every Friday and release corresponding unit prices the following Wednesday. Your account balance will reflect the most recent unit price available.
Which investment options do unit prices apply to?
Unit prices apply to CareSuper’s 7 Managed and 5 Asset Class options. Unit prices do not apply to the Direct Investment option.
What unit prices does CareSuper apply to the different account transactions?
|Type of transaction||Unit price used|
|Contribution into a member’s account||Buy price from the day that we receive the member’s money|
|Withdrawals||Sell price from the day that we process the member’s request|
|Switches out of an investment option||Sell price from the Wednesday after we receive the member’s switch request. Please see below for more information about switching timeframes|
|Switches into an investment option||Sell price from the Wednesday after we receive the member’s switch request. Please see below for more information about switching timeframes|
|Fees, taxes, insurance premiums and other costs||Sell price from the day that we deduct the money from the member’s account|