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Important notification on payments


The ongoing market volatility caused by the coronavirus pandemic has affected share markets around the world. As a result, and in accordance with our policies, we implemented additional verification steps before finalising the unit prices effective 16 March 2020.

This didn’t affect the processing of your transactions, however, it meant that we did not meet the banking cut-off time of 6.30pm on Tuesday 17 March 2020. As a result, some payments may be received in your bank, building society or credit union account a day later than normal.

We apologise for any inconvenience this causes.


Pension dates

If you have chosen your own payment date or frequency, the nominated pension payment date (also known as Next Payment Date) is the date we initiate your pension payment. The date you receive the payment into your nominated bank account is typically 2 to 3 business days after this date. If your nominated date falls on the weekend or a public holiday, the pension payment process will automatically be initiated on the next business day.

If you have not chosen a specific date for your payments to be made then your pension for the 2020-2021 financial year will be processed in accordance with the table below.


Months

Nominated Date

Money Available Major Banks

Money Available Credit Union

July

15/07/2020

20/07/2020

21/07/2020

August

15/08/2020

20/08/2020

21/08/2020

September

15/09/2020

18/09/2020

21/09/2020

October

15/10/2020

20/10/2020

21/10/2020

November

15/11/2020

19/11/2020

20/11/2020

December

15/12/2020

18/12/2020

21/12/2020

January

15/01/2021

20/01/2021

21/01/2021

February

15/02/2021

18/02/2021

19/02/2021

March

15/03/2021

18/03/2021

19/03/2021

April

15/04/2021

20/04/2021

21/04/2021

May

15/05/2021

20/05/2021

21/05/2021

June

15/06/2021

18/06/2021

21/06/2021

 

*Annual payments are made in June
*Six-monthly payments are made in December and June
*Quarterly payments are made in September, December, March and June.