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Pros and Cons
- Expertise through self administration.
- Personalised customer service.
- Member education (seminars, newsletters, trade exhibitions and articles).
- Member online access.
- Retirement seminars.
Australian Catholic Superannuation was established in 1981 to provide retirement benefits to those who work in Catholic education, healthcare, aged care and welfare, with membership now open to the general public. Most recently, the fund announced plans to merge with NGS Super.RetireSmart uses a 'two-bucket' investment model, with a member's account balance separated into two distinct investment buckets; 'Growth bucket' and 'Cash bucket'. The 'Cash bucket' is used to fund pension payments and the 'Growth bucket' is used to generate income and growth, with the 'Cash bucket' automatically topped up on a regular basis from the 'Growth bucket'. Alternatively, if the balance in the 'Cash bucket' rises to above three times the members' nominated annual pension income, then the excess money will be transferred back into the 'Growth bucket'. The Growth option outperformed the SuperRatings Index over the 1-year period to 30 June 2020; however, underperformed over 3 years.Fees are lower than the industry average across all account balances assessed, with the asset-based administration fee capped at $2,000 pa. Members can switch investment options at no cost. RetireSmart provides good flexibility, with members having the ability to receive payments weekly through to annually. Members can also select from reversionary pensions, binding death nomination and non-binding lump sum death benefits.Members have access to complementary general advice and tailored personal advice, as well as a range of online tools, calculators and educational resources available through the fund's website. The secure online facility; Member Online, allows members to view and update account details, as well as perform transactions.
Australian Catholic Superannuation Fees and Features
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
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AustralianSuper Choice Income Account
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Flexible investment choice - 11 options and the Member Direct
Free retirement seminars and webcasts
Full online account access at any time via PensionOnline with Mobile App available
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Plum Retirement Income
Support: Plum Retirement Income offers access to phone-based help, online education, an electronic application process, and six monthly member statements which provides a level of assurance for members to make retirement decisions.
Transition to retirement and Account based pension product: Plum Retirement Income allows members to transition to retirement via the Self Select Investment Path.