Active Super has announced a number of changes to its MySuper products aimed at helping members increase their exposure to market gains.
The firm said that from 1 October, 2021, the ages at which members transitioned to lower-risk investments would be adjusted in order to increase their exposure to market gains.
Following this, a number of investment stages in the MySuper product would be reduced to three from four, and each investment stage would be renamed to match relevant life stages.
The new stage names and relevant age brackets would be as follows:
Accelerator (up to age 49): This is the stage of life when members may want to take more investment risk to increase the potential growth in their super balance.
“Active Super is making these important changes to its MySuper product in order to deliver better member outcomes through higher expected returns,” Active Super chief executive Phil Stockwell, said.
“Active Super members can continue to either invest in the MySuper Lifestage product or choose their own investment mix through our Choice Investment products. Either way, we remain committed to making active investment decisions on behalf of our members by incorporating our whole of fund responsible investment approach.
“This latest initiative underscores our continued commitment to deliver quality customer service and solid long-term returns for our members. It follows on from our recent decision to rebrand and reduce our administration fees as part of our ongoing commitment to look after our members.”
The fund worked with Mercer to analyse various changes to the age-based transition between investments based on member profiles.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
Add new comment