Real estate industry fund REI Super has cut its death and disablement insurance premiums and administrative fees on pensions accounts, after a negotiation with its insurer, Metlife.
Effective from the start of this month, the agreement would see savings of five to six per cent on premiums for most members. The pension admin fees would go from $182 to $85.80, in addition to percentage-based fees on investment options.
“We’ve achieved some great efficiencies and we’re delighted to be able to pass on the resulting fee savings to our pension members,” REI Super chief executive, Mal Smith, said.
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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