We’ve introduced a new feature to make UniSaver a more attractive option for managing your money in retirement. With UniSaver, you can split your savings across a number of investment options. Until now, if you make a partial withdrawal for any reason and you are invested in more than one investment option, funds are withdrawn proportionally from across those options. We’ve changed this so that retained members can nominate which fund they want to make a withdrawal from. This will make the scheme more attractive if you plan to follow a strategy where you invest money you plan to spend in the near term in a low-risk fund and money you plan to spend in the longer term in a higher-risk fund or funds. You’ll find information on this approach in Sorted’s guide to managing your money in retirement [external link].

The ability to nominate a fund applies to one-off and regular withdrawals. It is not available if you are invested in UniSteps. If you don’t nominate a fund and you’re invested in more than one investment option, your withdrawal will be taken from across your investment options as it is now.

Read more about retained membership