Key product features
The AustralianSuper account-based pension with a transition to retirement option has many features, including low fees, 15 investment options and flexible payment options.
Key features of the AustralianSuper Pension include:
| Product |
Account-based pension, with a Transition to Retirement option |
| Minimum investment |
$10,000 |
| Entry fee |
Nil |
| Administration fee |
Account-keeping fee – $1 per week, plus an
Asset-based fee – 0.22% pa of account balance, capped at $1,100 pa for accounts of $500,000+ |
| Payment amount |
Subject to minimum and maximum limits
|
|
Payment frequency
|
Fortnightly, monthly, quarterly, six-monthly or annually |
| Indexation |
CPI or whole numbers up to 5% |
| Investment management fee |
Depends on investment strategy chosen. For 2008/09, the fee for the Balanced Investment Option was 0.84% |
| Investment choice |
6 PreMixed and 9 DIY Mix options. Default option is the Balanced Investment Option |
| Switching |
Yes, weekly |
| Switching fee |
Nil |
| Account management |
Via PensionOnline and a specialist Pension Team is available to answer any query on 1300 789 932. |
| Lump sum withdrawals |
Yes, with a minimum withdrawal of $1,000 |
| Lump sum withdrawal fee |
$35 (excludes pension payments) |
| Termination fee |
Nil |
