Sunsuper launches new pension product
Sunsuper has launched a new pension product with a mix of features that will aim to have less impact on their client’s retirement income.
The product contains a high percentage of defensive Australian, international and growth shares, and offers investors who open an account twice their annual nominated pension payment deposited in cash. Investors can draw their income from the deposited cash for two years without selling their other assets to realise returns.
Sunsuper also added an automatic re-balancing function and more flexible payment methods to the fund.
Sunsuper cut the administration fees on its retirement products last month by up to $300 a year for members.
“With its mix of assets and the backing of Sunsuper’s team of investment experts, the strategy will offer retirees greater protection from the vagaries of the markets,” said Sunsuper chief executive Tony Lally.
Recommended for you
The shift in scale and consolidation has led to substantial growth in large privately owned licensees, which have tipped past 20 per cent of advisers for the first time to make up 28.3 per cent of the industry.
ETF providers Betashares and BlackRock are reporting increased flows for currency hedged vehicles, but an adviser has warned on the potential tax implications of changing currency.
Bravura chair Matthew Quinn is to step down later this year, following the exit of CEO Andrew Russell, while its future priority is digital advice in Australia.
Financial advice has an important role to play in navigating family discussions around inheritance, according to CFS, with younger generations expecting a windfall of more than $500,000 while older ones try to meet their retirement needs.
