NESS Account Based Pension
- Last updated on 15 Jul 2020
QSuper Lifetime
Pay no transaction or switching fees and enjoy a range of different investment options
$78
$653
NESS Pension was established to service the pension needs of employees in the electrical contracting, communication and associated industries in NSW. A minimum initial investment of $20,000 is required to commence membership.Members have access to a simple investment menu comprising of 5 Diversified options and a Cash option. The Moderate option underperformed the SuperRatings Index over the 5 years to 30 June 2019.Fees are lower than the industry average for all account balances assessed, with administration fees capped at $650 pa. Members are not charged an investment switching fee or buy-sell spread.NESS Super provides reasonable flexibility, with members having the ability to receive payments twice monthly through to annually. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Beneficiary options are comprehensive, including both binding and non-binding nominations, as well as reversionary pensions. Online access, newsletters, half-yearly member statements and financial planning services are available through the fund. Members also have access to a range of additional benefits such as competitive banking products from ME Bank and discounted health insurance from NIB.
Admin fee $78 | Health insurance |
Administration fee (%) 0.25% | Binding nominations |
Indirect cost ratio (%) | Anti-detriment payments |
Exit fee $0 | Switching fee $0 |
Financial planning service | Employer size discount |
Credit cards | Home loans |
Insurance life event increases | Non-lapsing binding nominations |
Investment fee 0.9% | Long term income protection |
Account size discount |
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
Product | Past 5-year return | Admin fee | Company | Calc fees on 50k | Features | SuperRatings awards | Go to site | |
|---|---|---|---|---|---|---|---|---|
New Fund | $78 | Promoted NESS Account Based Pension | $653 | Advisory services Death insurance Income protection Online access Term deposits Variety of options | More details |
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