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COVID-19 and your super

Information and support in uncertain times

Last updated: 25 January 2021


Through these extraordinary times, we extend our thoughts to you and your family, especially if you have lost employment or are otherwise experiencing financial and other stress due to COVID-19.

Safeguarding your superannuation sits at the heart of everything we do. As always, the Sunsuper team are continuing to work hard to prudently manage the Fund and your super investment.

Consider these COVID-19 impacts on your super

 

The government’s temporary early access to super measure for those financially affected by COVID-19 has now ended. You may still be able to access your super early, but only in special circumstances.

The government announced the temporary reduction of drawdown requirements for account-based pensions. This information is relevant for Sunsuper members who have a Retirement income account and Transition to retirement income account.

Approaching or already retired

  • There are things to consider if you’re thinking about moving to a more conservative strategy.
  • Before you make any change to your super investment strategy, you should seek financial advice.
  • To speak with a Sunsuper financial adviser, please call us on 13 11 84.

Retirement far away

  • For the majority of members, the answer on what to do now is: Do nothing.
  • All market downturns are temporary, even if they are severe in the short-term.
  • Before you make any change to your super investment strategy, you should seek financial advice.
  • To speak with a Sunsuper financial adviser, please call us on 13 11 84.

It is likely that your super is invested in more than just shares. So, yes, returns in your super investment were impacted by the market volatility caused by COVID-19, but they won't have been as sharply affected as the performance of share markets.

We understand that the global uncertainty caused by COVID-19 might leave you with some questions about your insurance with Sunsuper.

Watch the updates and read the latest from our Chief Economist on what’s happening in financial markets, what Sunsuper is doing, what it could all mean for your super investment, and what (if anything) you should consider doing.

Past performance is not a reliable indication of future performance. Sunsuper employees provide advice as representatives of Sunsuper Financial Services Pty Ltd (ABN 50 087 154 818 AFSL No. 227867) (SFS), wholly owned by the Sunsuper Superannuation Fund.