Goldman Sachs JBWere - Account Based Pension

Established in 2000, Goldman Sachs & JBWere Superannuation Fund is a Corporate Superannuation Fund for employees and contractors of Goldman Sachs Australia Services Pty Ltd or National Australia Bank who work principally for JBWere Ltd. The fund's Account Based Pension opened in 2008 to provide a retirement income solution for members. Goldman Sachs & JBWere Superannuation Fund Account Based Pension offers a single default option, which aims to generate a total net return of at least 4% above inflation over a 10 year rolling period. The Trustee generally manages investments internally and has no external investment managers appointed, other than underlying wholesale managed funds in certain assets classes. The fund's Default option has outperformed the SuperRatings Index over the long term, providing members with top quartile returns.Fees associated with this product are higher than the industry average on small account balances due to a high fixed dollar administration fee is charged. However, fees across medium and large account balances are competitive relative to peers, with the asset based administration fee capped at $300 p.a. No fees are applicable for investment switches, although exit fees apply for partial withdrawals.A limited level of pension flexibility is provided to members, which includes three pension payment frequencies (monthly, quarterly and annually). Members can also choose between binding, non-binding and reversionary death benefit payment options. A minimum initial investment of $20,000 is required to commence an Account Based Pension or Transition to Retirement Account.The fund seeks to maximise members' benefits over the long term and integrates Environmental, Social and Governance (ESG) considerations. Equity investment decisions are based on cautious stock selection by investing in companies with a long term view, with reference to a number of components including ethical, competent and shareholder-oriented management.