With research showing Australians are paying up to three times more than they should for superannuation, the Australian Defence Credit Union (ADCU) is launching two "low-fee" investment options.
ADCU chief executive, John Ford, said the credit union's Capital Guaranteed Super and Capital Guaranteed Pension funds were designed for those looking to protect their retirement lifestyle with a low-risk, capital guaranteed option for their savings.
Ford said the two option would give investors alternatives to accounts with not investment, entry or ongoing fees.
"We've taken on board feedback from those about to retire," he said.
"They don't want to risk their retirement nest egg nor do they want to see fees erode their effective rate of return.
"ADCU's Capital Guaranteed Super and Pension offers the ability to lock in your rate of return in advance via our fixed rate option — thereby providing a secure and predictable income stream.
"We see this service extension as an important step to assisting retired members with a dignified and well-earned retirement".
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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