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(Mar-2005): New TAP option for Unisuper
UniSuper has joined the push to take advantage of the changes announced in the last Federal Budget, announcing this week that it had launched a new term allocated pension (TAP).
UniSuper’s chief executive officer, Ann Byrne said the move was consistent with the fund’s desire to increase options available to members approaching retirement.
“We are committed to providing members with greater flexibility, and that means offering products and services that can support their finances right through their working lives and into retirement,” she said. “Our term allocated pension increases the alternatives available to members who are ready to take their retirement benefits.”
Byrne said the TAP product also provided a valuable opportunity to reduce the tax that could “eat away a retirement nest-egg”.
According to UniSuper, its TAP is a low-cost product with no entry or transfer fees and an administration fee of $10.33 a month.
It said the asset fee was 0.25 per cent and was capped at $1,500 per account.
AUTHOR
Mike Taylor
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