Building Unions Superannuation Scheme (Queensland)

BUSSQ Income Account

No. of members: 73011
Fund size: $5b
Public offer:
Product type: Industry-Allocated Pension
Target market: -
Year started: 2002
Past 5-year return
6.48%
Admin fee

$0

Calc fees on 50k

$505

SuperRatings awards
Past 5-year return
6.48%
Admin fee

$0

Calc fees on 50k

$505

SuperRatings awards

Pros and Cons

Pros and Cons

  • A choice of 11 investment options available, each with a distinctly different investment objective and strategy.
  • The default Smart Income Strategy allocates 85% of members' funds in the Balanced option and 15% in the Cash option. Pension payments will come from the Cash option to begin with, which allows members to utilise short term money (Cash) and leave the Balanced option longer time to grow in the market.
  • Online services provided for account access, investment information and transaction switching.
  • Access to advice at no extra cost.
  • Free member retirement planning seminars.
  • Pension Transfer Bonus offered. All profits returned to members.

Summary

BUSSQ Pension Choice was established in 2002 to provide for the retirement needs of members employed within the building and construction industry. The fund is a public offer fund and allows members from all industries to apply for membership, with a minimum initial investment of $25,000 required to commence membership. BUSSQ Pension Choice was nominated as a finalist for the 2020 Pension of the Year award.BUSSQ Pension Choice offers an investment menu of 3 diversified options and 7 single sector options. The Balanced Growth option outperformed the relevant SuperRatings Index over the 10 years to 30 June 2019.Fees are lower than the industry average across all account balances assessed. The fund does not charge a buy-sell spread or an investment switching fee.BUSSQ Pension Choice offers good pension flexibility, with members able to select from fortnightly through to yearly payment frequencies. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Members can also select from reversionary pension, binding death nomination and non-binding lump sum death benefits.BUSSQ provides access to a diverse range of educational tools, as well as advisory and planning services through Skylight Financial Solutions. The fund regularly conducts information sessions to ensure members are well informed on their retirement needs.

Features and Fees

BUSSQ Fees and Features

    Pros and Cons

    • A choice of 11 investment options available, each with a distinctly different investment objective and strategy.
    • The default Smart Income Strategy allocates 85% of members' funds in the Balanced option and 15% in the Cash option. Pension payments will come from the Cash option to begin with, which allows members to utilise short term money (Cash) and leave the Balanced option longer time to grow in the market.
    • Online services provided for account access, investment information and transaction switching.
    • Access to advice at no extra cost.
    • Free member retirement planning seminars.
    • Pension Transfer Bonus offered. All profits returned to members.

    BUSSQ Pension Choice was established in 2002 to provide for the retirement needs of members employed within the building and construction industry. The fund is a public offer fund and allows members from all industries to apply for membership, with a minimum initial investment of $25,000 required to commence membership. BUSSQ Pension Choice was nominated as a finalist for the 2020 Pension of the Year award.BUSSQ Pension Choice offers an investment menu of 3 diversified options and 7 single sector options. The Balanced Growth option outperformed the relevant SuperRatings Index over the 10 years to 30 June 2019.Fees are lower than the industry average across all account balances assessed. The fund does not charge a buy-sell spread or an investment switching fee.BUSSQ Pension Choice offers good pension flexibility, with members able to select from fortnightly through to yearly payment frequencies. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Members can also select from reversionary pension, binding death nomination and non-binding lump sum death benefits.BUSSQ provides access to a diverse range of educational tools, as well as advisory and planning services through Skylight Financial Solutions. The fund regularly conducts information sessions to ensure members are well informed on their retirement needs.

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    BUSSQ Fees and Features

      Fund fees vs. Industry average
      THIS FUND
      INDUSTRY AVERAGE
      Fund past-5-year return vs. Industry average
      THIS FUND
      INDUSTRY AVERAGE
      Investment allocation
      INTERNATIONAL SHARES
      AUSTRALIAN SHARES
      PROPERTY
      ALTERNATIVES
      FIXED INTEREST
      CASH
      OTHER
      Investment option performance
      BALANCED
      HIGH GROWTH
      DIVERSIFIED FIXED INTEREST
      GROWTH
      AUSTRALIAN SHARES
      INTERNATIONAL SHARES
      CAPITAL STABLE
      CASH
      + View additional option performance information
      Product
      Past 5-year return
      Admin fee
      Company
      Calc fees on 50k
      Features
      SuperRatings awards
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