New product aimed at ‘gig’ economy
A new superannuation product has been launched aimed at people working in the so-called “gig economy” – gigSuper.
The product has been launched by two former staffers of foreign exchange and contracts for difference (CFD)provider, IG Australia, Peter Stanhope and Martin Baur.
The new product is an app-based offering which Stanhope and Baur said had been been codesigned with gig workers and which offers what is being described as a unique redraw facility.
Commenting on the product, Stanhope said he and Baur understood the importance of flexibility and ease of use.
He said that because of this, gigSuper allowed members to access their funds through investment in a non-super redraw account until end of the financial year when they could instantly transfer those funds into Super to maximise tax-benefits and build for their retirement.
“Working job-to-job means your income fluctuates through the year, and the ability to access your money if needed is vital,” Stanhope said. “Within five minutes clients can sign up for an account, roll over existing balances, set contributions, and more - all from their mobile phone.”
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