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 6 options across a range of asset classes. 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. Members can switch between investment options at no cost; however, an exit fee applies for partial and full withdrawals.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 are 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.