BEST-FEA­TURED PEN­SION FUNDS

GOLD WIN­NER SUN­SU­PER

Money Magazine Australia - - INVESTING SUPERANNUATION -

A set-and-for­get ap­proach al­lows pen­sion­ers to get on with en­joy­ing their lives

Sun­su­per for Life In­come pen­sion fea­tures in­clude an in­cen­tive for sign­ing up, a set-and-for­get in­vest­ment strat­egy and fi­nan­cial plan­ner con­sul­ta­tions.

It of­fers a sign­ing-on bonus of up to $4800 for Sun­su­per mem­bers who ac­ti­vate the in­come ac­count. But to qual­ify they need to have been with Sun­su­per’s sav­ings ac­count for at least 12 months, and the higher the ac­count balance the big­ger the bonus (0.3%). A mem­ber with $200,000 re­ceives $600, ris­ing to $1500 for $500,000 up to a max­i­mum of $4800 for $1.6 mil­lion.

Pen­sion­ers can choose from a range of in­vest­ment op­tions or, to make their lives sim­pler, opt for the To­day and To­mor­row strat­egy. This pays an in­come from the cash op­tion (which holds the equiv­a­lent of about two years’ in­come) and the rest stays in the re­tire­ment op­tion. In­come is paid from the cash un­til there are no funds left and then it is taken from the re­tire­ment ac­count.

Sun­su­per of­fers free, sim­ple, over-the-phone fi­nan­cial ad­vice as well as more com­pre­hen­sive face-to-face ad­vice with a qual­i­fied fi­nan­cial plan­ner.

The re­tire­ment in­vest­ment op­tion charges fees to­talling 0.80%pa, as well as ad­min costs of $3 a week plus 0.10% on the first $800,000.

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