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Understanding the impact of Coronavirus (COVID-19) on your super

News | Date Posted: 23 March 2020

As Australia and the global community continue to face the spread of Coronavirus (COVID-19), we understand the current market fluctuations are naturally causing concern for our members.

Superannuation is a long-term investment, and while the current shifts in investments make it a difficult and emotion-charged time, it’s important to remain focussed on the long-term and ensure your strategies align to your personal situation and goals.

How the market may affect members differently

The current impact of COVID-19 on markets may affect members differently depending on where they are in their superannuation journey.

While the general view remains that Mine Super members are best placed in the long-term to hold tight, it’s natural for people to be more concerned if they’re closer to retirement. If you’re in this boat, you may be less exposed if you’re invested in our Lifecycle Strategy, as we automatically reduce your exposure to growth assets such as shares as you get older – unless you tell us otherwise.

For more information on the current market volatility, read our Super and Investments 101: COVID-19 article.