Established in December 2014, brightday Complete Pension is an account-based pension product offered through the MAP Master Superannuation Plan and will merge into the SmartSave ‘Member’s Choice’ Superannuation Master Trust Plan via a Successor Fund Transfer to be completed on 17th December 2020. A Transition to Retirement Pension (TTR) is also available to eligible members, subject to a minimum initial investment of $20,000. Members are offered a comprehensive investment menu, consisting of 5 Diversified and Single-Sector investment options, and a range of Super Wrap investment options, including the Cash Hub, Managed Funds, Managed Account Model Portfolios, ASX Listed Securities and Term Deposits. The Passive Balanced option outperformed the relevant SuperRatings Index over the year to 30 June 2020; however, underperformed over 3-and 5-year periods. We note the option has a lower allocation to growth assets than a typical Balanced (60-76) strategy. Fees for this product are lower than the industry average across all assessed account balances. A minimum administration fee of $250 p.a. is applicable and a switching fee is charged after 2 free investment switches per annum.brightday Complete Pension provides reasonable flexibility, with members having the ability to receive payments monthly through to annually, on a date set by the fund. Beneficiary options include non-binding and binding nominations, as well as reversionary pensions. Additional benefits include a broad range of educational resources, comprehensive research material of brightday stock screener and featured funds, as well as a portfolio planner assisting members to build their portfolio and achieve investment objectives. Members are also able to change details and perform transactions via the Secure Online Portal.

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