20 March 2020
Message from the Trustee
In recent weeks, the impact of the coronavirus (COVID-19) outbreak has had a significant impact not only on the investment markets around the world but on the way people are going about their daily living.
What this means for you
This means that the value of your super can change considerably over the short term due to the volatility of the market. A key factor driving the volatility is the unknown impacts of the coronavirus in the immediate future.
What is the Trustee doing?
• The Trustee has invoked its business continuity plan to ensure that it continues to oversight and manage your retirement benefits. The Trustee has also been in regular contact with third party service providers to ensure they continuing to operate as usual.
• The Trustee is closely monitoring the investments of the fund.
• The Trustee has reviewed the insurance policies to understand the implications of a pandemic on members insurance cover in the fund. You will be advised if your insurance cover is affected.
Key things for you to keep in mind are:
• Superannuation is a long-term investment. Changing or redeeming your investments after a market downturn is an important decision and depends on several factors including your age, life stage and risk appetite. We recommend that you seek financial advice before changing your investment strategy.
• If you are in retirement (or approaching that time), consider all your options before making any significant changes to your investments. This may include reviewing your retirement strategy with the assistance of a financial adviser to ensure that your objectives are still being met.
• Review your insurance to ensure that it is adequate for your needs and personal circumstances.
• The ATO has released support measures to assist those impacted by COVID-19. (https://www.ato.gov.au/Media-centre/Media-releases/Support-measures-to-assist-those-affected-by-COVID-19/ )
• Stay calm don’t panic and most importantly look after your health and wellbeing.
Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757, RSE L0001458. The information provided here is general information only. It does not take into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision, you need to consider (with or without the assistance of an adviser) whether this information is appropriate to your needs, objectives and circumstances. You should obtain a copy of the relevant product disclosure statement before making any financial decisions.