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Quick pension fund review
For IOOF Essential Pension
These are the benefits of this pension fund.
- Cost-effective platform solution
- Contemporary and intuitive client and adviser online portals.
- Choice of 15 highly-regarded range of multi-manager funds (IOOF MultiSeries, MultiMix and Specialist Property Fund).
- Advisers can set up accounts completely online.
- Comprehensive adviser and client reporting.
IOOF Essential Pension is a Division of the IOOF Portfolio Service Superannuation Fund and is an account-based pension which provides members a tax effective pension in retirement. A minimum account balance of $10,000 is required to commence an IOOF Essential Pension account.The investment menu consists of a range of diversified and single sector multi-manager options. The IOOF MultiSeries 70 option outperformed the SuperRatings Index over the 1-year period to 30 June 2020.Fees are lower than the industry average across all account balances assessed, with a reduced asset administration fee applicable on account balances over $250K. Members can switch investment options without incurring a switching fee, although, a buy-sell spread may apply.IOOF Essential 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 indexed each year by a specific percentage or in-line with CPI. Beneficiary options include both 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. The fund’s secure online facility, IOOF Online, allows members to view and update account details as well as perform transactions, including switching investments. Portfolio summaries, record of transactions, statements and reports are also available.
Pension fund overview
For IOOF Essential Pension
Target Market Determination
Visit IOOF 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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