Investment options built around members

We regularly review our investment strategy to make sure it continually meets members’ needs and to support strong long-term investment returns.

These changes are designed to make the options easier to understand and manage.

Around 21 November 2026. If you’re invested in SmartPath and/or a Mercer Sustainable investment option(s) your funds in these options will be automatically transferred to the new investment option(s) as outlined in the notice you received. 

No, there’s nothing you need to do. If you’re invested in SmartPath and/or a Sustainable investment option(s) the changes will happen automatically around 21 November 2026. You’ll receive a confirmation notification shortly after your funds have been transferred. Please read your notice and consider whether the new investment option(s) remains appropriate for your circumstances.

For most members, investment fees and costs will change depending on your current and new investment option(s). This may result in the total fees and costs charged to you increasing.

The SmartPath asset-based administration fee for transition to retirement and retirement members with a Mercer SmartRetirement Income account will reduce from 0.15% p.a. to 0.10% p.a. For all other SmartPath members asset-based administration fee won’t change.

The notice you received explains what these changes mean specifically for your account and we strongly encourage you to review this carefully.

No, your Mercer Super account balance will not change because of the transfer to the new investment option(s). However, the value of the investments may still go up or down due to normal market movements.

No, funds invested in options other than SmartPath and Mercer Sustainable option(s) will remain the same.

No. If you have nominated SmartPath and/or a Mercer Sustainable option for future contributions, any future employer contributions, personal contributions, and transfers into your account will be automatically directed to the relevant replacement options after the change.

There will be no impact on pension payments.The fortnightly payment prior to the transfer to the new investment option(s) will be processed on Friday 20 November 2026.

No. Mercer Super is backed by Mercer’s global scale and expertise – approximately 3,000 investment professionals and US$846 billion in assets worldwide (as of 30 June 2026), and 80 years of experience in global investment markets. That access and expertise will stay in place, and we’ll continue to look after your account.

To avoid being moved to your new options outlined in your notice, you will need to make an investment switch before 4pm Thursday 19 November 2026 (AEDT). You can do this via your online account (Member Online or Mercer Super App) or by completing the ‘Changing your Investment Options’ form available at mercersuper.com.au/documents.

A Limited Service Period (LSP) is a temporary period when access to parts of your account is restricted and/or limited while we complete important updates.

A Limited Service Period (LSP) will be needed to complete the transfer of your funds into your new investment options.

From 4pm (AEDT) on Thursday 19 November 2026 until 5pm (AEDT), Monday 23 November 2026, you won’t have access to the investment pages in your online account (including Member Online and Mercer Super App) and Mercer Direct (if applicable). You’ll be able to access all other areas, and your account balance will continue to be invested throughout this period. Contributions and payments will continue to be processed as normal.

If you need to access your super early, please visit mercersuper.com.aufor more information.

We’re required to notify you prior to making changes to your investments. If you have one or more investment options and/or accounts, we have provided separate notices to ensure you understand what is changing for each account.

SmartPath is the MySuper default investment option for most of our members. Generally, if you don’t make your own investment choice, you’ll be invested in SmartPath.

SmartPath’s automated glidepath adjusts your Mercer SmartPath portfolio based on your age. It’s designed to change automatically as you get older, so your super is invested in the way that matches your stage of life, based on your age. When you’re younger, SmartPath invests more in growth assets like shares and property. As you get older, it gradually moves more of your money into defensive assets like cash and fixed interest.

SmartPath is designed for members who want to take a simple approach to their super and leave it to the professionals. You can choose your own investment option if you’d prefer more control.

SmartPath will be simplified to a reduced number of age-based options to replace the current options which are based on year of birth. There will be changes to how money is split between the various growth and defensive assets and fees and costs may also change.

Around 21 November 2026, any fundsyou have invested in SmartPath will automatically move to your new investment option outlined in the noticed you received. After that, your funds in SmartPath will automatically move to the relevant investment option when you turn 55 and 61 (accumulation members only) and 67 (accumulation and retirement members).

We’re simplifying things so there are fewer, more clearly defined options, making it easier to understand.

You can read the notice we sent you about the changes as well as the document below which provides more information on the new options including changes to asset allocation, asset classes, fees and costs and an example of annual fees and costs.

PDF – Investment options in detail (Accumulation)

PDF – Investment options in detail (Retirement)

Previously, the SmartPath glidepath was implemented by reviewing the Strategic Asset Allocations for each option each year and updating them to ensure they moved along the SmartPath glidepath as required. With the new changes, we’ll move you to the next SmartPath option when you reach the relevant birthday. Any funds invested in SmartPath will automatically move to the relevant investment option when you turn 55 and 61 (accumulation members only) and 67 (accumulation and retirement members).

There’s nothing you need to do. Any funds invested in SmartPath will automatically move to the relevant investment option when you turn 55 and 61 (accumulation members only) and 67 (accumulation and retirement members). If your birthday falls on a weekend or a national public holiday, the change will generally be processed on the next Melbourne business day. We’ll send a confirmation notification after the transfer.

Most members invested in SmartPath will not see large changes in their investment strategy, however some members born between 1959 and 1973 may see a change in how their growth and defensive assets are split. At the same time, we will be making changes to how your money is allocated to the different underlying asset classes. The notice you received in October contains details on how SmartPath is invested.

When you turn 65, you’re are automatically moved to a pension account. Any funds invested in SmartPath will be transferred and invested in SmartPath Under 67 Retirement.

The current Mercer Sustainable options include Mercer Sustainable High Growth and ercer Sustainable Conservative Growth. These options are closing on 23 October 2026 to members who don’t currently have funds invested in these options.

Over time, fewer members have invested into these options, and Mercer Super has determined the current structure is no longer the best fit for members going forward. 

Around 21 November 2026, your funds invested in Mercer Sustainable High Growth and/or Mercer Sustainable Conservative Growth will be moved into the following three investment options: Mercer Property, Mercer Fixed Interest and a new option, Sustainable Global Shares. The proportions are outlined in the tables below.

Your funds will be transferred into a combination of single asset class optionsdesigned to broadly reflect the underlying asset allocation of your current option(s). Moving your funds involves buying and selling the underlying assets, which comes with a one-off transaction cost. It will apply to the portion of your account that’s invested in a Sustainable option.

The way your money is invested will change, but the proportions have been designed to maintain a similar risk profile and investment mix. Diversification will still be provided within each asset class, but not across multiple asset classes within a single option. Each option carries its own risks, and the combined mix will determine your overall diversification and risk exposure. The proportions allocated to each option may also change over time, for example due to market movement.
 

Table 1 - Accumulation & Pension members

^{*Mercer Fixed Interest is not eligible for the Retirement Bonus. For more information, please refer to the Mercer SmartRetirement Income Product Disclosure Statement (PDS).}
 

Table 2 - TTR members

^{*Mercer Fixed Interest is not eligible for the Retirement Bonus. For more information, please refer to the Mercer SmartRetirement Income Product Disclosure Statement (PDS).}

The notice we sent you, together with the document below, explains the new Sustainable Global Shares option (Accumulation and Pension members) and Taxed Sustainable Global Shares (TTR members) options in detail. It includes changes to asset allocation, asset classes, fees and costs and an example of annual fees and costs.

PDF – Sustainable Global Shares option in detail)

The updated Product Disclosure Statement (PDS) and its incorporated booklets will be available around 20 November 2026 to reflect the new options.

Yes. If you are already invested in a Mercer Sustainable option before the options close on 23 October 2026, you can continue to trade through your online account up until 4pm (AEDT) Thursday 19 November 2026. Any funds still invested after this time will be automatically transferred and invested in Mercer Property, Mercer Fixed Interest and Sustainable Global Shares.

Sustainable investment is a term the trustee uses to describe a range of approaches to investment that have regard to how environmental, social and governance (ESG) factors may impact future investment outcomes and therefore the financial interests of members. Mercer Super implements its sustainable investment approach using multiple techniques. These techniques are not implemented absolutely nor uniformly across all holdings, strategies, managers or options. This overall sustainable investment approach applies to the Mercer Managed Investment Options and will continue, with some minor changes.

Mercer Sustainable High Growth and Mercer Sustainable Conservative Growth invest in multiple asset classes and have an additional sustainability approach applied to the Global Shares and Global Credit asset allocations. Your allocation to Global Shares will be transferred to the new Sustainable Global Shares option, which will incorporate a similar additional sustainability approach to what is currently applied. Your Growth and Defensive Fixed Interest allocations (including Global Credit) will be mapped to Mercer Fixed Interest which will not have an additional sustainability approach applied. The remainder of the asset classes did not have an additional sustainability approach applied, and this will continue to be the case.

An updated version of the Sustainable Investment Information Booklet, incorporating the changes we’re making will be available around 20 November 2026. This will outline the overall sustainable investment approach and further detail on the additional sustainability approach for the Sustainable Global Shares option.

You can read the Sustainable Investment Information Booklet for details on how Mercer Super implements its sustainable investment approach. An updated version of the booklet, incorporating the changes to the Sustainable investment options will be available around 20 November 2026.

Yes. Mercer Super uses Screens that seek to avoid investment in, or remove or reduce exposure to, certain companies or securities with involvement in defined products or business activities.

Some Screens are applied to all Mercer Managed Investment Options (including Mercer Property & Fixed Interest), with an additional Screens applied to the Mercer Sustainable options.

You can refer to the Sustainable Investment Information Booklet for details – section ‘2. Mercer Managed Investment Options - Screens’ and section ‘3. Mercer Managed Investment Options - Mercer Sustainable Options’. An updated version, incorporating the changes we’re making will be available around 20 November 2026.

The updated Screens that apply to Mercer Managed Investment Options will be available here from late October.

<TBC table with details on the updated screens>

The Additional Screens that will also apply to the new Sustainable Global Shares option, will be available here from late October.

<TBC table with details on updated additional screens>

To transfer assets in the most effective and efficient manner and minimise impacts to members, the closing Mercer Sustainable options may have a very small exposure to underlying investments that do not meet the additional screens currently outlined in section ‘3. Mercer Managed Investment Options - Mercer Sustainable Options’ in the Sustainable Investment Information booklet.

Around 21 November 2026, your investments will be in your new options and will adhere to the relevant Screens or additional Screens (for the Sustainable Global Shares option) outlined in the Sustainable Investment Information booklet from that date.

The proportion of funds transferred to Mercer Fixed Interest will not be eligible for the Retirement Bonus. You can switch into another, eligible option before or after the change at any time (except during the Limited Service Period). Refer to the Mercer SmartRetirement Income Product Disclosure Statement at mercersuper.com.au/pds for further details on eligibility.