NESS Account Based Pension

NESS Pension was established on 1 July 2008 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 has underperformed the SuperRatings Index over the short and long term.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; however, an exit fee does apply.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.