The information below is for contributing, deferred benefit and associate members who wish to switch the accumulation components of their membership between the Default Fund and the Cash Investment Option.
Under scheme rules, you can only make two investment switches each calendar year.
Switching investment options
The switch cut-off date is on or before the last Friday in each month. If an eligible request is received by then, your switch will take effect the following Wednesday. If your request is not received by then, it will be processed in line with the following cut-off date.
What components of my benefit can I switch between options?
You can only switch your accumulation components between investment options – that is, your member and post-1990 productivity components, as well as any amounts transferred into CSS.
Only accumulated balances in excess of $1,000 are eligible to be switched.
For CSS members with productivity components accrued prior to 30 June 1990 (commonly referred to as interim or unfunded productivity), this amount cannot be switched between investment options as it is a notional amount. However, it will be credited with earnings based on the performance of your chosen option.
Can I invest in both options?
No, your taxed accumulation components must be 100% invested in one option only.
Can I cancel my switch request?
Yes, providing we receive written correspondence from you to withdraw your switch request on or before the switch cut-off date that applies to your switch.
If your written withdrawal is not received, your switch will be processed.
Written notification to withdraw your switch request is still required if you use Member Services Online to switch your investment option. If by the cut-off date more than one confirmed switch request has been received, only the latest confirmed request will be processed.
Can I switch back?
Yes, you can switch between the options throughout the year providing that you do not request to switch more than twice in each calendar year. Once two switches have been completed in a calendar year, requests that would take effect in the same calendar year will be invalid and cannot be processed.
Can investment switches be suspended?
Yes, Commonwealth Superannuation Corporation (the trustee of the CSS) reserves the right to suspend member switches if there is a major material event that impacts the Default Fund and/or the Cash Investment Option. If such an event occurs, we will suspend switches until the situation is resolved to our satisfaction.
In this event, we'll keep members informed through this website.
Should I get personal financial advice?
Superannuation, in particular defined benefit schemes such as the CSS, can be complex, so we recommend you consider personal financial advice before taking any action.
Find out more about the fee for service personal financial advice available to CSS members.