Our Member Services contact centre will be closed from 12pm Wednesday 18 December and re-open 8am Thursday 19 December. During this time, you can leave a message with your contact details and we will call you back.
We calculate our investment performance and how this is applied to your account balance using something called crediting rates. This video explains how crediting rates work.
Our investment managers invest your super balance, and it either earns or loses money, depending on what’s happening in financial markets. We calculate these earnings or losses using crediting rates. They are then applied to your balance at certain times during the year.
The amount applied to your account will depend on which investment option you have chosen, because these options will perform differently.
When you log into firstonline or the app, sometimes your account balance may not reflect what is happening in investment markets straight away. But you don’t need to worry.
This is because we update crediting rates weekly. We firstly project forward the previous week’s results. Then we update them with returns when they are finalised each week.
We also update them again monthly (see our latest monthly investment performance here) and at the end of the financial year for the most accurate results, which can take a bit longer. We deduct investment tax, fees and costs.
Although crediting rates are calculated weekly and displayed in firstonline or the app as an estimated balance, the earnings will only be locked in at one of the following times:
We will calculate investment earnings on your balance according to the date you switch investment options.
We process investment switch forms once a week on a Friday. The cut-off day for switch requests is close of business on Thursday. For example, if you submit a form on a Thursday before 5pm, then the date your new investment option will be effective from is the following day when we process your form (Friday).
So if you switched from the Balanced option to the Growth option on 8 August 2024, we would calculate crediting rates for the Balanced option from 1 July 2024 (the start of the financial year) to 7 August 2024. From 8 August to 30 June 2025, we would calculate crediting rates for the Growth option.
If your switch happens between monthly crediting rate declarations, an interim crediting rate is calculated from the date of the last monthly rate declaration to the day before your investment switch is processed.
If you close your account, the crediting rate we use will depend on the investment option(s) you have selected and the date you leave the Fund.
If you leave the Fund between monthly crediting rate declarations, and interim crediting rate is applied to your account balance from the date of the last monthly rate declaration to the date of payment of your balance to another super fund.
The interim crediting rate is determined on a weekly basis and is an estimate of investment earnings of the Fund for the period. First Super may at its discretion apply an interim crediting rate to partial withdrawals.
If you would like to know more about the investment returns or have any other questions, please don’t hesitate to call our Member Services Team on 1300 360 988, or email us.
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