Established in 2012, ING Living Super is a simple online retirement solution that can be tailored to suit the needs of members throughout their life. A minimum initial investment of $20,000 is required to commence a Pension or Transition to Retirement accountMembers have access to an investment menu of Cash and Term deposit options, 4 Diversified options, 6 Single Sector options, as well as Direct Shares listed on the S&P/ASX 300 and a selection of Exchange Traded Funds (ETFs). The Growth option outperformed the SuperRatings Index over the 3-year period to 30 June 2020; however, underperformed over other assessed time periods.Fees are lower than the industry average across all assessed account balances. ING Living Super’s fee structure includes a flat administration fee of $60 p.a. and a percentage-based administration fee of 0.50% up to $2,500 p. a. charged for all investments except for the Cash option. The fund does not charge an investment switching fee, although a buy-sell spread may apply. A good level of pension flexibility is provided, including a range of payment frequencies from fortnightly to annually. Beneficiary options are comprehensive, including both binding and non-binding nominations, as well as reversionary pensions and non-lapsing binding nominations. Additional benefits available include access to financial advice services, educational material, interactive tools and calculators, as well as the ability to view and update account details and perform transactions online.

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