Transferring Member Direct from super to your Choice Income account
Did you know you can keep your Member Direct investments when you retire and move your super balance with AustralianSuper1 to a Choice Income account? By requesting a Seamless Transfer to Choice Income, you don’t need to sell-down and re-purchase your investments, avoiding transaction costs and market risk. More importantly, by using Seamless Transfer, you won’t trigger a capital gains tax (CGT) event on any shares, ETFs and LICs that you hold. You will remain invested in the market during the transfer process.
How does Seamless Transfer work?
When you open a Choice Income account and request a Seamless Transfer, we’ll move the investments in your Member Direct account from your super to a new Member Direct account in your new Choice Income account. Your entire Member Direct balance must be transferred across—partial transfers are not possible. The balance in the Cash account will be transferred as cash. You’ll remain invested in shares, ETFs and LICs, if you hold these investments. If you hold term deposits, you will need to pay tax for the portion of their term in super before the transfer can be completed.
To request a Seamless Transfer from super to Choice Income, you will need to hold Term Deposits and/or shares, ETFs and LICs. If you only hold funds in the Cash account, you cannot request a Seamless Transfer. Other conditions also apply. Refer to the Member Direct Guide for more information.
1 Seamless Transfer can't be used for members from other super funds who wish to transfer their investments into AustralianSuper.
What are the benefits of Seamless Transfer?
No transaction costs
You don’t need to sell-down and repurchase any shares, ETFs and LICs that you hold.
You remain invested in the market throughout the transfer process.
Tax free for shares, ETFs and LICs
Seamless Transfer does not trigger any capital gains or losses on shares, ETFs and LICs that you hold.