Another online superannuation offering is set to hit the market, with ING Direct this week announcing a retail super product focused on value and online functionality.
Confirming the new product's entry, ING Direct chief executive, Anne Myers said it had been developed in the context of a gap existing in the market.
"We see a real gap in the market where we can apply the ING Direct principles of value, fairness and online control to what are complex and little understood products," she said.
Myers said it had been developed in the context of customers asking the company whether it could do for super what it had done for savings, home loans and transactional banking.
"We are developing a retail product that gives customers value and puts their investments back in their control," she said.
