AustralianSuper Choice Income Account

AustralianSuper is a multi-industry public offer fund that manages over $140 billion in assets on behalf of more than 2 million members, making it one of the largest industry superannuation funds in Australia. AustralianSuper Choice Income Account was nominated as a finalist for the 2019 Pension of the Year award.AustralianSuper offers a range of 11 investment options to choose from, providing members with access to 6 Pre-Mixed and 5 DIY Mix investment options, including a Socially Aware option for the ethical investor. Access to Term Deposits, ETFs and ASX300 Shares is also provided via the Member Direct option; however, additional costs may be incurred. The Balanced option has provided strong investment returns to members, outperforming the SuperRatings Index over each time period assessed to 30 June 2018.Fees for the Balanced option are lower than the industry average across all account balances assessed. No switching fees or exit fees are charged and the asset administration fee is capped at $750 p.a. AustralianSuper provides excellent flexibility, with members having the ability to receive payments fortnightly through to annually. Members with more than one investment option can nominate the proportion of, or order in which, payments are to be drawn from each option. Automatic annual pension payment increases are available by either a nominated percentage or by CPI. Beneficiary options are comprehensive, including both binding and non-binding nominations, as well as reversionary pensions. AustralianSuper members have access to a range of online fact sheets, calculators and educational videos. The fund’s member online account further allows members to view and update their account details and perform transactions.