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Pros and Cons
- A low cost, easy to understand and easy to manage superannuation and pension solution that offers a range of simple and convenient investment options and a range of competitively priced group insurance options. It's smart on fees and its lifecycle MySuper investment strategy allows the customer to 'set and forget' their super until it's time to for them to retire by changing a member's risk profile based on their age. Bendigo SmartStart has been designed to meet all stages of a customer's life whether they are starting out, moving up, doing business, looking to retire or in retirement.
Bendigo SmartStart Pension is part of The Bendigo Superannuation Plan which was established in 1988. Bendigo SmartStart Pension is an account-based pension which aims to provide a low-cost and easy-to-use solution to help members in retirement or in transition to retirement. A minimum initial investment of $10,000 is required to commence membership. Bendigo SmartStart offers members an investment menu consisting of 11 Diversified options, an Income Fund and a Cash Investment option. The Bendigo Balanced Index option underperformed the relevant SuperRatings Index over all assessed time periods to 30 June 2020.Fees are lower than the industry average across all account balances assessed. There are no investment switching fees, although a buy-sell spread may apply.Bendigo SmartStart Pension offers reasonable pension flexibility, with members able to select from monthly, quarterly, half-yearly and yearly payment frequencies and an ability to have pension payments adjusted to the CPI or by a certain percentage. Members can also select from reversionary pensions or binding lump sum death benefits, including child nominations.The fund offers members comprehensive online educational materials and the ability to view account details and perform transactions online.
Bendigo Bank Fees and Features
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
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No information was provided by the fund to SuperRatings, hence an alert rating may be given in areas where a qualitative assessment cannot be made. For available information refer to the fund's PDS.
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