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New default for RBF Investment Account members
FROM 24 March 2014 RBF MyPath will replace RBF Actively Managed as the default investment option for members who don’t make an investment choice.
RBF Investment Account members who are 100% invested in RBF Actively Managed will be automatically moved to RBF MyPath unless they opt-out of the transition before 14 March 2014. Members impacted by a number of changes being made to RBF investments have recently received correspondence from RBF. Those RBF members who will automatically move to RBF MyPath have received a letter from RBF specifically outlining details of their account that will be transitioned.
What is RBF MyPath?
RBF MyPath uses a lifecycle investment strategy. This means the investment mix (or asset allocation) automatically changes as you near retirement providing a strategy suitable for your stage of life. For members aged up to 50, RBF MyPath will focus on generating wealth over the long term. Over the following 10 year period (after reaching age 50) the focus will gradually shift toward protecting your account balance and reducing risk. Finally, after age 60, the strategy will focus on protecting your account balance through investing a more conservative mix of assets.
What do you have to do?
Members do not need to take any action if they: • have an RBF Investment Account which is 100% invested in RBF Actively Managed as at 5pm on Friday 21 March 2014; and • want their funds to be automatically transitioned to RBF MyPath. However, if members wish to remain in RBF Actively Managed (which will be renamed as RBF Balanced) they can opt-out of the automatic transition provided RBF receives instructions before 5pm, Friday 14 March 2014.
To opt-out of the transition members can:
• complete and return an opt-out form to RBF; or
• call the RBF Enquiry Line on 1800 622 631 to verbally opt-out; or
• complete the online form available on the RBF member secure website at www.rbf.com.au.
Members cannot opt-out if they:
are a 2.5% Contributory Scheme member;
or have an RBF Investment 12 Account.
The automatic transition does not impact RBF Investment Account members who are not invested 100% in RBF Actively Managed, RBF Account Based Pension, RBF Transition to Retirement Account Based Pension, or Contributory Scheme members. No action is required by these members.
Dates you need to know:
Friday March 14: 5pm on this date is the cut-off for the opt-out automatic transfer to RBF MyPath. A switch blackout for all RBF Tasmanian Accumulation Scheme Member Investment Choice options will be applied from this date until the end of the transition period.
Friday March 21: Blackout period starts for all member activity, including access to RBF’s member secure website.
Monday March 24: Blackout period is expected to end, with transitioned funds now appearing in the RBF MyPath option. Members will be able to switch between Member Investment Choice options (including RBF MyPath).
Find more information about RBF MyPath here .
Remember, if you’re an RBF member you can also check your super through the member secure website at www.rbf.com.au .