Times are tough and are going to get tougher for savers who like cash

The national university superannuation fund tells members whose savings are in cash that, “negative returns may be applied to your investment.”

The fund explains this is due to the impact on cash deposits of the Reserve Bank’s “historical low” cash rate.

“Small fluctuations in the value of cash assets may see your cash balance achieve a negative return on any given day, and possibly reduce over time,” UniSuper warns.