ANZ Smart Choice Super and COVID-19 FAQs

Log in to ANZ Internet Banking. Your ANZ Smart Choice Super account balance will be listed together with your other ANZ accounts, if any.

Click on your super account to then access further functionality relating to your ANZ Smart Choice Super account, such as transaction history and investment performance.

Financial markets dislike uncertainty, and COVID-19 has delivered a lot of uncertainty worldwide over the past few months. This has triggered a correction from the unusually strong performance of some markets in 2019, and in other asset classes a significant drop in value. 

This can create concern, but unless you had planned to take your money out as a lump sum in the near future, it’s generally best to stick to your original investment strategy and still be in the market for the anticipated rebound. 

You can read ANZ Smart Choice Super’s investment house view on COVID-19 for more information.

Take comfort knowing that your ANZ Smart Choice Super Lifestage option automatically adjusts the mix of investments to become more conservative the closer you get to retirement. As you approach retirement, the investment mix changes to a more defensive portfolio anchored by cash and bonds. 

If you have chosen your own investment mix within ANZ Smart Choice Super, your preferences remain the same.  You can login via Internet Banking on anz.com and change these if you wish.

Your super typically needs to last you a good 20-30 years, so if you choose to react to the market volatility and move all your investments to cash during a downturn, you will crystallise your losses and may miss out on the benefits of any subsequent rebounds. 

If you’re really concerned about what your super is invested in, you should talk to a financial adviser about your investment strategy and the suitability of your investments.

While the news headlines can make it hard not to feel panicked, it’s important to take a calm and considered approach to your superannuation. Super is an investment vehicle for your retirement; when you’re young, you’re likely to have your investments mainly in growth assets such as shares. These are designed to provide potential higher returns over the long term, with enough time to ride out any dips or rapid fluctuations in markets. 

A long-term focus is critical during times of market turbulence and history has shown that markets have the ability to recover from significant downturns. So, while the coronavirus is clearly impacting the global economy now, we will likely see a recovery in the medium term.

However, if you’re really concerned about what your super is invested in, you should talk to a financial adviser.

That depends on your eligibility. The government is allowing individuals affected by the Coronavirus to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in the first three months of 2020-21.

If you believe you are eligible, you will need to apply directly to the Australian Tax Office. You will need to provide your bank details and it is anticipated you will be able to apply for early release of your superannuation from mid-April 2020.

For more information, please visit treasury.gov.au/coronavirus or speak with your financial adviser.

The government has announced a temporary reduction of superannuation minimum draw-down requirements for account-based pensions and similar products by 50 per cent for the 2019-20 and 2020-21 income years.

Where relevant, you should contact us if you wish to change your pension draw-down.

For ANZ Smart Choice Super, your insurance cover is held through trustee-owned group insurance policies with insurers. These policies do not have a direct pandemic/epidemic exclusion. Contact us if you would like more detail on the policy which applies to you. There are a number of insurers that provide insurance arrangements for ANZ Smart Choice Super. The policy that you have taken out individually may have different terms and conditions, so you should speak to a financial adviser to understand the details.

In this uncertain time, the trustee has reached out to a number of its service providers, including insurers and they are appropriately responding and taking prudent actions to continue their operations, minimise disruption and importantly, deliver services to our members. They are watching circumstances closely and if there are changes, their responses may also change. Any insurance claim is subject to assessment and eligibility for cover.