Interim Credited Interest Rates

Latest Interim Credited Interest Rates (Interim CIRs)

Interim CIRs are determined monthly for each investment option.

The Interim CIRs for the current month is shown in the following table as monthly rates (not annual rates):

Investment Strategy
	Cash	Conservative	Balanced	Growth	Aggressive
December 2008	0.50%	0.50%	0.55%	0.60%	0.65%
January 2009	0.50%	0.50%	0.55%	0.60%	0.65%

About Interim CIRs

Interim CIRs are used to determine earnings to credit to member accounts when they leave or rollover.

The Interim CIR not only applies to members' accounts up to the date of leaving service, but will also apply from the date of leaving service to the date of payment or rollover called late interest. Late interest is calculated using the interest rate for the default option. The amount of Interim CIR is added or subtracted (if the Interim CIR is negative) to the benefit calculated at the termination date.

The Interim CIRs use a long term estimated return based on the investments in each MIC option.

The Interim CIRs will be replaced by the final declared CIR early in the following month, once the CIR has been calculated. The CIR is based on the actual return for the prior month.

For members of Division 9 – Flexible Income Stream and Division 14 – Transition to Retirement, different Interim CIRs are determined to recognise the different tax treatment in investment earnings.