Equip - Account Based Pension

Equip was founded in 1931 as the Provident Fund of the State Electricity Commission of Victoria, with membership now open to the general public. Equip's Account Based Pension has achieved a Platinum rating for the past 11 consecutive years. The investment menu consists of 6 Diversified and 6 Single Sector options, including the Sustainable Responsible Investment option for the ethical investor. The Balanced Growth option has outperformed the SuperRatings Index over the short and long term.Fees are competitive and lower than the industry average across all member account balances assessed, and the asset administration fee is capped at $750 pa. No fees are charged for switching investments; however, an exit fee applies to partial and full withdrawals. Equip provides good flexibility, with members having the ability to receive payments fortnightly through to annually and members able to nominate the investment option(s) from which pension payments are to be taken. Members can also select from reversionary pension, binding death nomination and non-binding lump sum death benefits.Equip provides members with access to free seminars presented by Equip Financial Planning and tailored for people approaching or already in retirement. A range of online tools, calculators, factsheets and educational videos are also available through the fund's website.