Electricity Industry Superannuation Scheme - Retirement Income StreamInformation shown is for the rated option.
What the Researchers Say:
A "good value for money" superannuation fund that is strong in nearly all assessment areas but with average features and/or performance in one or more of our assessment criteria.
You should contact your financial adviser or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Asset Admin Fee||0.40%|
|Account Size Discount||Yes|
|Employer Size Discount||N/A|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Offered to Public?|
|Fund Type||Industry-Allocated Pension|
Fund Highlights - provided by Electricity Industry Superannuation Scheme - Retirement Income Stream
What the researchers say
The Electricity Industry Superannuation Scheme (EISS) is a non-public offer fund that was established in 1999 for employees in the South Australian electricity industry and their spouses. The Retirement Income Stream was established in 2008 and a minimum initial investment of $30,000 is required to join.
Members are able to access a basic investment menu of 4 options consisting of 3 diversified and a cash option. Historical performance is not available for this product, however the Accumulation divisions Balanced Growth option has outperformed the SuperRatings Index over the shorter term.
Fees are lower than the industry average across all account balances assessed. No fees are charged for establishing an account or regular pension payments, however, fees do apply for lump-sum withdrawals to external funds. Members are entitled to 4 free investment switches per year.
Pension flexibility is average when compared to peers. Pension payments can be made fortnightly through to annually directly to the member's nominated bank account. Members can nominate a reversionary death beneficiary or choose a binding lump-sum nomination.
EISS provides members with access to financial planning services through Industry Funds Financial Planning and members can view their account details online.