Important information regarding changes to Self Invest within the Transition to Retirement Income account

From 1 July 2017, the Self Invest option will no longer be available within the Transition to Retirement Income account. For more information, please click here.

These terms and conditions govern how you may use QSuper Self Invest (Self Invest) to invest in the various investment types made available by QSuper via this investment option.

These terms and conditions apply in addition to the Member Online Terms and Conditions (which can be accessed via QSuper Member Online and relate to your use of Member Online in order to access and use the online functionality required to access and use Self Invest).

When using Self Invest, you are bound by these Terms and Conditions.

In these Terms and Conditions references to 'you', 'your' and 'yours' are references to the person(s) accessing the Self Invest functionality via Member Online and 'we', 'us', 'our' and 'QSuper' are references to each of the QSuper Board, the QSuper Fund or QSuper Limited (as applicable), unless expressly indicated otherwise.

We reserve the right to amend these Terms and Conditions at any time, at our sole discretion. Where material changes are made, a notice that a change has been made to these Terms and Conditions will be posted on our website and the new Terms and Conditions will be made available on our website.

All investment instructions received from you, including in relation to your cash, Australian shares, ETFs and term deposit holdings via Self Invest must be submitted online through use of QSuper Member Online. Any instruction purported to be provided by a method other than by use of Member Online will not be valid or accepted under any circumstances. We may reject any investment instruction or order at our sole discretion.

As a result of scheduled or unscheduled outages, your access to Self Invest may be restricted or denied from time to time. We will seek to provide prior notice of scheduled outages wherever possible.

We will not be responsible for any delay or failure to process orders or any other investment instructions provided by you as a result of Self Invest or internet outages of any kind.

We reserve the right to restrict or revoke your access to Member Online or QSuper Self Invest at any time. If your access to Member Online or QSuper Self Invest is revoked, you will not be permitted to transact and all investment instructions previously provided to us, including those relating to transfer requests and Dividend Reinvestment Plans (DRPs) are automatically revoked.

If your access is restricted, we will attempt to contact you to inform you of the terms of those restrictions.

None of the information made available to you via the Self Invest option is intended to be, or should be construed as financial product advice. You should consider whether any information made available to you is appropriate to you having regard to your objectives, circumstances and needs. If you are in any doubt, you should seek advice from an appropriately qualified financial adviser.

We are not liable for any loss or damage from a rejection of an instruction or delays in executing an investment instruction for any reason, including Self Invest or internet outages.

Your investment in Self Invest is subject to investment risk. We do not guarantee the repayment of capital or the return of capital or income or the performance of the option or any investment made in the option. This could involve delays in repayment and loss of income or the capital invested. Please refer to page 16 of this Guide for more information regarding the risks associated with investing in the Self Invest investment option.

Market and exchange data made available to you in relation to Self Invest is provided by UBS Securities Australia Limited (UBS).

For all research material provided by UBS, you agree with us (in the context of this clause acting on behalf of UBS) that UBS may give you its FSG by making its FSG available on a website. This clause also constitutes notice by UBS to you that its FSG is available at ubs.com/qsuper-psgfsg.

We are not responsible for the content of any site owned by UBS or any other third party that may be linked to or accessed through QSuper Member Online or any other website used in relation to Self Invest, whether such a link is provided by us, UBS or by any other third party. These links are provided as a courtesy service and no judgement, representation or warranty is made by us concerning the suitability, accuracy or timeliness of the content on those websites.

By providing access to other websites, we are not recommending or endorsing any brand, products or services offered by the organisation sponsoring or owning the linked website. Investments in any financial products mentioned on those websites is at your own risk and you do not hold QSuper liable in any way in relation to those investments.

All assets held in the Self Invest option will be registered in the name of State Street Australia Limited, as custodian for the QSuper Board in its capacity as trustee for the QSuper Fund.

QSuper's custodian is also appointed by the QSuper Board to exercise any voting rights attached to shares and ETF units. QSuper will determine in its sole discretion how it votes on any matter.

To be eligible to invest in Self Invest you must hold the minimum balance in a QSuper Accumulation or Income account of $50,000 at the time of the initial transfer.

Please refer to this Guide for more details regarding how you may transfer funds to and from the Self Invest option via Member Online.

Any superannuation contributions received by QSuper cannot be credited directly to Self Invest. These contributions must first be credited to another QSuper investment option within your Accumulation account and then transferred to Self Invest via Member Online.

After an initial transfer of $5,000, you must ensure you maintain a minimum cash balance of $2,000 in the Self Invest transaction account at all times.

The interest earned on the balance in your transaction account is subject to change. For the current interest rate, please visit our website.

If the balance of your transaction account drops below $2,000, we reserve the right to transfer the amount we determine (at our sole discretion) that is required to meet any shortfall in the following order:

  • from QSuper investment options, in proportion with current holdings, then
  • from shares/ETFs held in your Self Invest account starting with the share with the highest market value, then
  • through the redemption of any term deposits.

You are required to maintain the ongoing balance requirements in respect of your Accumulation or Income account referred to in this Guide whilst invested in Self Invest.

If you fail to maintain the ongoing balance requirements, QSuper reserves the right to:

  • revoke your access to Self Invest, and/or
  • liquidate any assets (determined at our sole discretion) in your Self Invest investment option and transfer them to another QSuper investment option in the following order:
  • available funds in your transaction account, then
  • shares and ETFs, starting with the highest value share, then
  • early redemption of any term deposits.

We may liquidate your holdings in Self Invest at our sole discretion, including in the following circumstances:

  • total and permanent incapacity
  • death or suffering a terminal medical condition
  • severe financial hardship
  • compassionate grounds
  • to satisfy a family law order under the Family Law Act
  • 1975 (Cth) on divorce or separation
  • to restore a member's QSuper account to within the minimum balance limits.

The timing of any liquidation of assets within your Self Invest option will be completed at our sole discretion and in the following order:

  • from available funds in your transaction account, then
  • from shares/ETFs held in your Self Invest account starting with the share with the highest market value, then
  • through the redemption of any term deposits.

Partial withdrawals from your QSuper Accumulation or Income account (as applicable) can only be processed out of funds held in QSuper investment options other than the Self Invest option.

You are required to ensure you have sufficient funds available in these other QSuper investment options before submitting a withdrawal claim form. You must also ensure before submitting a withdrawal claim form that you continue to hold an amount of $10,000 in your Accumulation account or 24 months of Income account payments in your QSuper Income account.

If you have insufficient funds to process the claim, QSuper will attempt to contact you with regard to your claim request.

Members can only invest in the term deposits specified in our Self Invest Investment Menu available at the relevant time. More detail about each term deposit is available in the product disclosure documents issued by each term deposit provider. This information is available on our website

We are not responsible for the reliability, accuracy, completeness or timeliness of any information provided by term deposit providers, including interest rate information and product disclosure documents issued by term deposit providers.

We will not be responsible or liable for any loss or damage for any delay in processing any term deposit orders.

Information relating to the rates available from each nominated term deposit provider will be available on the transaction pages when you access Self Invest through Member Online, and we require these providers to update the rates weekly by 11.59pm (Sydney time ) each Thursday.

Term deposit orders will be processed by QSuper each working day. Orders placed after 11.59pm on any day will be processed on the next working day.

A member may cancel an order to purchase a term deposit up to 11.59pm (Sydney time) on the day of placement of the order, through logging on to Member Online and navigating to the Self Invest open orders page.

Term deposits are not redeemable before maturity, except at the sole discretion of QSuper, where members satisfy one of the following conditions:

  • total and permanent incapacity
  • death or suffer a terminal medical condition
  • severe financial hardship
  • compassionate grounds
  • to satisfy a family law order under the Family Law Act 1975 (Cth) on divorce or separation.

Provided you meet one of these conditions, you can apply for early redemption by calling QSuper.

At maturity or early redemption of a term deposit the capital amount and all accrued earnings (less an allocation for tax) will be credited to your transaction account, unless we are instructed to reinvest these amounts in a new term deposit on your behalf.

Minimum and maximum investment limits apply to the purchase of term deposits, and these limits are outlined in this Guide.

Term deposit instruments available via Self Invest are not covered by the Federal Government's financial claims scheme under the Banking Act 1959 (Cth) as they are not held on separate trust for each member. This financial claims scheme will only apply to superannuation fund members if the trustee holds bank deposits with an approved authorised deposit-taking institution (ADI) on separate trust, which it treats as different 'account-holders'.

General ASX rules apply to any order made by a member via Self Invest.

Please note the following terms which relate to share and/or ETF investments:

  • You cannot buy and sell the same share/ETF on the same day.
  • You can only place one buy order per day for a specific share/ETF.
  • You are limited to one buy order per share or ETF at any one time .
  • The maximum that you can invest in a single share/ETF is 25% of your total QSuper Accumulation or Income account balance.
  • The maximum that you can invest in total in shares and ETFs is 85% of your total QSuper Accumulation or Income account balance.
  • The minimum buy order (not including under a DRP or through a corporate action) is $1,500.
  • The maximum value of any single order is $250,000.
  • You must comply with the limits, trading rules, DRP and corporate action requirements set out in this Guide.
  • If you place a buy order, monies required to fund the order will be reserved in your transaction account until settlement of the order occurs.
  • All buy orders are limited to the amount of cash you have available in your transaction account (in excess of the $2,000 transaction account minimum that must be maintained at all times) and any unsettled sell orders.
  • You cannot cancel more than three orders in a share/ETF per trading day.
  • In the event you submit an at-market order, the buy or sell price of the share will be that which is confirmed by the ASX.
  • If your company share drops out of the S&P/ASX 300, even though you can retain the holding, you will be unable to purchase additional shares until the company again appears in the S&P/ASX 300.

We reserve the right not to make all corporate actions available to members. We determine the availability of corporate actions at our sole discretion. Please refer to this Guide for more details. Corporate actions relevant to your Self Invest holdings that QSuper determines that it will participate in (in relation to your Self Invest holding), will be notified to you via Self Invest.

We require members to provide instructions regarding any current elective corporate actions via Member Online by the due date notified to you in Self Invest.

Any corporate actions requiring funding from the transaction account are subject to the availability of cash in your transaction account (in excess of the minimum balance which you're required to hold in the account at all time).

Where a maximum limit (or cap) applies to the amount of shares which you can participate in or be provided under a particular company's corporate action, shares allotted to QSuper as part of the corporate action will be pro-rated to the member's holding in QSuper Self Invest as a proportion of QSuper's total holding of that share.

You may elect to participate in DRPs on a per share basis.  Should you elect to participate in a DRP with respect to a particular share/ETF which does not offer DRP, you will automatically receive a cash dividend.

You may update your DRP election at any time.

Orders to buy or sell shares and/or ETFs first need to be validated by our broker and will normally be passed to market upon successful validation. We reserve the right to reject any order.

In the case of intraday suspensions of any share or ETF product, orders will be implemented when trading resumes. Instructions will automatically lapse if trade resumes outside of the period of time nominated when you submitted an order (for example where you nominate either Good for Day or Good for Month and the time elapses before trading resumes).

We are not liable for any loss or damage from a rejection of an order or in relation to any treatment of or failure to participate in full or in part in any corporate action.

We will seek to complete any transfer between QSuper investment options and Self Invest on a T+2 basis, meaning that the process will be completed in two working days from the date of a valid request being submitted. The unit price applied reflects the net asset value on the day the transfer is submitted.

At QSuper's sole discretion the transfer between QSuper investment options and Self Invest option may take longer than two days and may take up to five days.

The additional days of interest earned in the transaction account during the transfer from Self Invest to the QSuper investment options (which a member is not entitled to receive), will be deducted from the transferred funds after being invested into the QSuper investment options.

Members holding shares or ETFs outside of the QSuper Fund are not able to be transferred into the Self Invest option.

A member may make a partial transfer from QSuper investment options to the Self Invest option of an amount in excess of the limits shown in this Guide.

A member's partial transfer to and from the Self Invest option will be apportioned in the same proportion as the QSuper investment options held at the time of transfer.

A member cannot make a partial transfer if:

  • the Self Invest option is in the process of closing, or
  • an existing transfer is still being processed, or
  • it is contradictory to QSuper policy.

A request to close your Self Invest option may be made online only when you have disposed of any shares and ETF holdings, term deposits have matured and any pending settlements, dividends or distributions have been received and credited to your transaction account.

The proceeds of a final transfer upon the close of your Self Invest option will be invested in proportion with your current QSuper investment option allocation.

Once you have instructed us to transfer all your funds out of Self Invest, you will not be permitted to transact on the amount invested in the Self Invest option and the Access fee will cease to be charged.

Upon closure you will no longer have access to the option to generate reports or view historical transaction details relating to your Self Invest option. You may contact QSuper and request a copy of past reports.

In the event that a share is delisted and a closure of Self Invest is requested by the member, a value determined at the sole discretion of QSuper will be credited for the delisted security to the member's transaction account to permit the closure to proceed.

In the case of your death, all your funds in Self Invest will be liquidated and transferred in proportion with your existing QSuper investment option/s (outside of Self Invest). The timing of this transfer is at the sole discretion of QSuper.

A member may request to transfer Self Invest investment assets held in an Accumulation account to an Income account as part of opening a QSuper Income account.

Self Invest investment assets will be transferred to the Self Invest Income account without selling listed securities or redeeming term deposits.

A member may only request a transfer to the Income account totalling 100% of the balance in the Self Invest Accumulation option. Partial transfers are not available to members.

There can be no transfers to an Income account where any of the following circumstances exist:

  • unsettled Self Invest transactions
  • listed securities with non-income corporate actions
  • the Accumulation account is in the process of closing or a partial transfer to or from Self Invest option to other options within your Accumulation account is in progress
  • at the discretion of QSuper.

In the event that we are unable to process a request to transfer to an Income account, QSuper will contact the member with assistance.

Any request to transfer your Income account to the Accumulation account can only be processed after you have disposed of any shares, ETF holdings, term deposits and any pending settlements, dividends or distributions have been received and credited to your transaction account.

An allocation for the Fund's tax liability will be deducted at the rate of 15% from Accumulation accounts on income related transactions such as interest, dividends and trust distributions (ETFs). No allocation for the Fund's tax liability applies to Income account earnings.

Any allocation for tax on earnings is deducted from a member's transaction account on a daily basis.

With regard to capital gain tax (CGT) attributed to Accumulation accounts, an allocation for the Fund's tax liability in respect of:

  • Long listed security positions (held for 12 months or longer) will be deducted at a discounted rate of 10%, and
  • Short listed security positions (held less than 12 months) will be deducted at the rate of 15%.

No allocation for the Fund's tax liability will be deducted in respect of capital gains made in Income accounts.

Any allocation for the Fund's tax liability is deducted from members' transaction accounts quarterly or when a member closes their Self Invest option (whichever is earlier). This is referred to as the CGT crystallisation process.

The CGT crystallisation process, whether quarterly or on exit, will calculate the net capital gain or capital loss attributable to a member from the start of the financial year, incorporating any carried forward capital loss amounts previously attributed to the member from the previous financial year. This allows previous quarter's capital losses to be included.

At the sole discretion of QSuper, when a member exits the Self Invest option in accumulation phase (including transfer to the Income account), a tax benefit of 10% of the value of any net capital losses attributed to the member following the final CGT crystallisation process may be credited to the member's account.

Franking credits are credited to the member's transaction account at the time of the payment of the dividend.

To be eligible for a credit to your account in respect of the franking credit received by the Fund, shares are required to be held in your account "at risk" for at least 45 days + Day of Acquisition + Day of Disposal.

Similarly to be eligible for a credit to your account in respect of the franking credit received by the Fund for preference shares, you are required to hold those shares in your account "at risk" for at least 90 days + Day of Acquisition + Day of Disposal.

The calculation of a final allocation for the Fund's tax liability to be deducted from a member's account in Self Invest will be executed effective December 31 for the tax year prior. At this date a final calculation occurs, monies are debited from the member's transaction account and the tax year is closed for all members. This true-up only applies to members who are currently active in the QSuper Self Invest option at the time the final true-up is processed.