Sunsuper has cut its administration fees for all its pension products to remain competitive.
The fund dropped the Sunsuper Income Account weekly pension fees from $4 to $3, effective from 30 September 2017.
Sunsuper executive general manager for customer and technology, Teifi Whatley, said the fund was always looking to keep costs as low as possible while generating strong investment returns.
“We’re also one of the few funds in the country rewarding Australians at the end of their working lives with a retirement bonus of up to $4,800 when they open an Income Account,” she said.
“Our scale, strong net cash flows, end-to-end service model and profit for member pricing philosophy means we will continue to be one of the market’s lowest cost providers, delivering ongoing value for our customers.”
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
AustralianSuper, Rest, and HESTA agree on the need to retain and enhance the test, yet they differ in their perspectives on the specific areas that warrant further refinement.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
Add new comment