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Quick pension fund review
For BUSSQ Income Account
These are the benefits of this pension fund.
- Online services provided for account access, investment information, transaction switching and increasing Insurance
- All profits returned to members. Pension Transfer Bonus offered.
- Full suite of Death, TPD and Income Protection (IP) offered as well as access to IP through CIPQ for self-employed members
- Access to advice over the phone or in-person at no extra cost.
- Free member retirement planning seminars.
BUSSQ Income Account 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 was nominated as a finalist for the 2021 Career Fund of the Year, the 2021 Pension of the Year and the 2021 Smooth Ride awards.BUSSQ Income Account offers an investment menu of 4 diversified and 6 single sector options. The default Smart Income Strategy allocates 85% of members' funds in Balanced option and 15% in Cash option. Pension payments will come from the Cash option to begin with, which allows members to utilise short term money and leave the Balanced option time to grow in the market. The Balanced Growth option outperformed 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. The fund does not charge a buy-sell spread or an investment switching fee.BUSSQ Income Account offers excellent pension flexibility, with members able to select from fortnightly 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 range of educational tools, as well as advisory and planning services through Skylight Financial Solutions. Further, the fund regularly conducts information sessions to ensure members are well informed.
Pension fund overview
For BUSSQ Income Account
Target Market Determination
Visit Building Unions Superannuation Scheme (Queensland) to view Target Market Determination.
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
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