Kogan and Mercer have launched Kogan Super that seeks to offer Australians a low-fee index-based superannuation product.
In an announcement, the fund said it would provide members simplicity such as a short online joining process, easy digital account management, five simple investment options based on a member’s risk tolerance, and super account consolidation upon sign up.
The investment options included enhanced index growth, enhanced indexed conservative growth, indexed Australian listed property, indexed diversified shares, and cash.
The fund would also allow members to create a customised investment option by mixing from the five options, and default death and total and/or permanent disablement insurance for eligible members.
Kogan.com chief executive and founder, Ruslan Kogan, said: “More than ever, Australians are turning to low-cost super funds to ensure that their retirement savings aren’t being eroded over time by high fees.”
“By leveraging our digital capabilities and delivering the superannuation needs of Australians online, Kogan Super can substantially cut annual fees for account holders,” he said.
“Kogan Super provides a no-frills, low cost, index-based offering with low fees enabling Australians to invest and grow their hard-earned money for the future.”