SuperRatings Gold 2021 Pension

IOOF

IOOF Pursuit - Select Allocated Pension

IOOF Pursuit is a Division of the IOOF Portfolio Service Superannuation Fund and comprises a range of flexible superannuation products, including IOOF Pursuit Core, IOOF Pursuit Focus and IOOF Pursuit Select. IOOF Pursuit allows quick and easy movement between the different Pursuit models and between superannuation and pension products under the Pursuit banner as members' investment needs change.The Pursuit Select investment menu consists of 'Easy Choice', 'Premier Investor Choice', 'Investor Choice' and 'Direct Share Choice' options, providing members with access to an extensive range of diversified and single sector multi-manager options, as well as listed investments, term deposits and annuities. The IOOF MultiSeries 70 option outperformed the SuperRatings Index over the 1- and 3-year periods to 30 June 2020; however, underperformance over the longer term remains evident.Fees are higher than the industry average across small and medium account balances assessed. A reduced asset administration fee is applicable on account balances over $250K and capped at $5,000 pa. Members can switch investment options without incurring a switching fee, although, a buy-sell spread may apply.IOOF Pursuit Select Allocated Pension provides good flexibility, with members having the ability to receive payments twice-monthly 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 are comprehensive, including both binding and non-binding nominations, non-lapsing binding nominations, as well as reversionary pensions.A range of online tools, calculators and educational resources are available through the fund's website. Portfolio Online provides members with secure online access to their account, as well as the ability to generate comprehensive and consolidated reporting on their investments.