To ensure contributions are allocated to an ESSSuper account in the 2023-24 financial year, please submit your payment by 5:00pm on 14 June 2024.

Members can find their BPAY contribution details in Members Online. Employers should make payments through Employer Online.

We no longer accept cheques or EFTs, and you should contact us if you have any queries.

Investment option name and classification changes

ESSSuper - 23 Jun 2023

Watch this video or read the article below to learn more about the investment option name and classification changes effective 1 July 2023.

Have you ever been put on the spot to see if your ESSSuper Accumulation Plan, Beneficiary Account, or Income Stream account passes the "barbecue" or "pub" test, but it's hard to compare investment options against those of other people's funds?

We all know that you're better off comparing apples with apples. So, to help you better understand your investment options and help members make an informed decision about whether their investment option is suitable for them, effective 1 July 2023, we are:

  1. Renaming six of our nine investment options, and
  2. Reclassifying all investment options into two new classifications.

These changes will happen automatically, meaning you don't need to take any action.

Please note: Investment options aren't available in ESSSuper's defined benefit super schemes. The defined benefit schemes are guaranteed by the Victorian State Government.

1. Investment option name changes

Here you can see how the names of six investment options are changing from 1 July 2023.

Current investment option name Investment option name from 1 July 2023
High Growth Growth
Basic Growth Balanced Growth
Growth (default option) Balanced (default option)
Balanced Conservative
Conservative Capital Stable
Ethically Minded Ethical Diversified

The names of these three investment options remain unchanged:

  • Shares Only
  • Defensive
  • Cash

How do these changes make these options more comparable?

It's the convention in Australia to categorise investment options based on their allocation of growth assets.

Our current default investment option is called Growth, and as at 30 April 2023 it had a target growth asset ratio of 59%. According to SuperRatings*, who are a third-party superannuation research company, a growth ratio of 59% places the Growth option in the Conservative Balanced category. By comparison, most super funds offer options labelled growth with target growth asset ratios ranging between 77% and 90%. So, to ensure our Growth option is labelled comparably against other products on the market, we've renamed this option from Growth to Balanced.

To simplify this example, our High Growth option is categorised as Growth by SuperRatings, so it makes sense to rename our options to match the industry categories.

What changing the names of our investment options means for you

These changes have no impact on the investment performance of each option or your actual ESSSuper account balance. The underlying strategic asset allocations and target returns of each option will not change.

From 1 July 2023, the investment options will appear differently in Members Online. If your selected investment option is one of the six investment options changing names you will see a change in that investment option's name. Your balance won't have been switched; only the names displayed will change.

In other words, if you're invested in the Growth option on 30 June 2023, you'll still be invested in the same option on 1 July 2023 but it will be called Balanced.

2. Reclassifying all investment options into two new classifications

Currently, our investment options are classified as:

  • Standard options, or
  • Alternative options.
Standard options Alternative options
Shares Only Basic Growth
High Growth Ethically Minded

This way of classifying our investment options doesn't give members an immediate understanding of how the asset allocations of each option is invested.

Additionally, ethically responsible investment options are no longer considered to be "alternative". More and more Victorians place value on the environmental and social impacts the investment of their super can have.

Instead, from 1 July 2023 we will classify our investment options as either:

  • Diversified options, or
  • Single asset class options.
Current investment option name Investment option name from 1 July 2023
Diversified options
High Growth Growth
Basic Growth Balanced Growth
Growth (default option) Balanced (default option)
Balanced Conservative
Conservative Capital Stable
Ethically Minded Ethical Diversified
Defensive Defensive
Single asset class options
Shares Only Shares Only
Cash Cash

How do these changes help members understand which investment option is suitable for them?

An investment option with a single asset class means that all the risk of returns for that option relies on the performance of that one type of asset. For example, the Shares Only option is solely driven by the volatility of the share market. On the other hand, the Cash option is much lower risk because it is solely invested in cash.

Diversified options, on the other hand, invest your super across a range of asset classes to ensure returns are not reliant on just one type of asset. This is called diversification and it ensures you are not putting all your eggs in one basket. Diversification is one of the best-known strategies to help lower your investment risk and generate more stable eturns.

What happens next?

These changes to the investment options for Accumulation Plan, Beneficiary Account, and Income Stream accounts will happen automatically on 1 July 2023, so you don’t need to take any action.

Please contact us for more information.


* SuperRatings Pty Limited ABN 95 100 192 283 (SuperRatings) is a third party superannuation research company providing data analysis, information and commentary to both the public and the superannuation industry. Established in 2002, it is the most widely used and accepted ratings firm in the superannuation industry. Refer to for more information. Ratings are only one factor to be taken into account when choosing a super fund.

† Source: SuperRatings Fund Crediting Rate Survey April 2023.

Emergency Services Superannuation Board (ABN 28 161 296 741) (ESSB), the Trustee of the Emergency Services Superannuation Scheme (ABN 85 894 637 037) (ESSSuper).

Investment returns cannot be guaranteed as investment markets can be volatile. As a consequence, returns can be positive or negative. Past investment performance is not a reliable indicator of future performance.

Benefits in ESSSuper's Accumulation Plan, Income Streams and Beneficiary Account products are not guaranteed or underwritten by the Victorian Government or ESSSuper, and ESSSuper does not come under the jurisdiction of the Australian Financial Complaints Authority. ESSSuper comes under the jurisdiction of the Victorian Civil and Administrative Tribunal.

The information contained in this article is of a general nature only. It should not be considered as a substitute for reading the relevant ESSSuper Product Disclosure Statement (PDS) that contains detailed information about ESSSuper products, services and features. Before making a decision about an ESSSuper product, you should consider the appropriateness of the product to your personal objectives, financial situation and needs. It may also be beneficial to seek professional advice from a licensed financial planner or adviser. An ESSSuper PDS is available at or by calling 1300 650 161.


  • ESSSuper
  • Investments
  • Significant events

Related News