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(March-2003) Military fund gets defensive
The $7 billion Military Superannuation and Benefits Scheme has increased member communication in preparation for the proposed introduction of member investment choice to the fund’s $1 billion accumulation option on July 1.
At present, the accumulation assets are invested through one option, which has 85 per cent placed in growth assets. However, Military Super chairman Charles Kiefel says although most of the fund’s membership is under 30 years of age, other options are necessary for those close to retirement.
“It is important for a general nearing retirement to be able to move his money into more conservative options,” he says.
AUTHOR
Craig Phillips
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