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How and when crediting rates are applied
Monthly Crediting rates
QIEC Super declares monthly crediting rates for applying interest to each investment option.
The declared monthly crediting rates are applied to members' accounts throughout the year, based upon the transactions in each month. These rates are determined by the Trustee with regard to the actual investment return on the Fund's assets after estimated tax and expenses.
Interim crediting rates also apply to investment switches, all benefit payments and on exit. In these instances, the account balance is crystallised and the interim rates are applied for the period since the last declared rate/s were set.
Crediting rates can also be negative, in line with movements in investments, in which case the investment earnings applied will be negative.
Interim Monthly Crediting Rates Policy
If you view your account balance on-line, complete an investment switch, partial benefit payment or leave the Fund before the Trustee has declared the latest monthly crediting rate(s), monthly interim rates are used for the period for which declared rates have not yet been set.
The Trustee determines the interim rate(s) based upon benchmark returns which reflect the investment performance for each investment option at that point in time. The interim rates are reviewed regularly to reflect movements in investment markets and may change without notice. Please click here for details of the current declared and interim crediting rates applying to each investment option.
What happens if I switch investments or leave?
Any switch to your investment option(s) is effective from the start of the following month after your completed switch form is received. Your account will be credited with the declared and interim rates for the previous months, as outlined above. If you exit the Fund before the Trustee has declared the most recent monthly crediting rate(s), an interim rate is used for each investment option, as outlined above.
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