IOOF

IOOF Pension (Full Menu)

No. of members: 301878
Fund size: $29.5b
Public offer:
Product type: Master Trust-Allocated Pension
Target market: -
Year started:
Past 5-year return
5.97%
Admin fee

$180

Calc fees on 50k

$1.1k

SuperRatings awards
Past 5-year return
5.97%
Admin fee

$180

Calc fees on 50k

$1.1k

SuperRatings awards

Pros and Cons

Pros and Cons

  • Extensive investment menu. Bi-annual benefit statements.
  • Online access to account details including the ability to update personal details, trade in equities and switch managed funds.
  • Pension members can elect to automatically index pension payments to CPI or another discretionary percentage.
  • Pension is available as a transition to retirement pension.
  • In-specie transfer of share holdings available prior to commencement of pension.

Summary

IOOF Pension is a Division of the IOOF Portfolio Service Superannuation Fund and is an account-based pension which provides members a tax effective income in retirement.The Full Menu offers members access to ready-made portfolios, managed funds, direct shares and term deposits. The MultiMix Balanced Growth Trust outperformed the SuperRatings Index over the 7 years to 30 June 2019.Fees are higher than the industry average across all account balances assessed; however, a reduced asset administration fee is applicable on account balances over $250K. Members are able to switch investment options without incurring a switching fee.IOOF Pension provides good flexibility, with members having the ability to receive payments fortnightly through to annually, on a date set by the fund. Pension payments can be automatically indexed by the CPI or a fixed percentage each year. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Beneficiary options include binding and non-binding nominations, as well as reversionary pensions.A range of online tools, calculators and educational resources are available through the fund's website. IOOF Online allows members to view and update account details as well as perform transactions, including switching investments. Members have access to financial advice provided by IOOF Investment Management Limited directly or through numerous adviser groups.

Features and Fees

IOOF Fees and Features

    Pros and Cons

    • Extensive investment menu. Bi-annual benefit statements.
    • Online access to account details including the ability to update personal details, trade in equities and switch managed funds.
    • Pension members can elect to automatically index pension payments to CPI or another discretionary percentage.
    • Pension is available as a transition to retirement pension.
    • In-specie transfer of share holdings available prior to commencement of pension.

    IOOF Pension is a Division of the IOOF Portfolio Service Superannuation Fund and is an account-based pension which provides members a tax effective income in retirement.The Full Menu offers members access to ready-made portfolios, managed funds, direct shares and term deposits. The MultiMix Balanced Growth Trust outperformed the SuperRatings Index over the 7 years to 30 June 2019.Fees are higher than the industry average across all account balances assessed; however, a reduced asset administration fee is applicable on account balances over $250K. Members are able to switch investment options without incurring a switching fee.IOOF Pension provides good flexibility, with members having the ability to receive payments fortnightly through to annually, on a date set by the fund. Pension payments can be automatically indexed by the CPI or a fixed percentage each year. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Beneficiary options include binding and non-binding nominations, as well as reversionary pensions.A range of online tools, calculators and educational resources are available through the fund's website. IOOF Online allows members to view and update account details as well as perform transactions, including switching investments. Members have access to financial advice provided by IOOF Investment Management Limited directly or through numerous adviser groups.

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    IOOF 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
      CONSERVATIVE BALANCE
      SECURE
      DIVERSIFIED FIXED INTEREST
      GROWTH
      AUSTRALIAN SHARES
      INTERNATIONAL SHARES
      CAPITAL STABLE
      + View additional option performance information
      Product
      Past 5-year return
      Admin fee
      Company
      Calc fees on 50k
      Features
      SuperRatings awards
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