The PortfolioOne Allocated Pension Service was established in 1997 and is part of the Wrap service operated through OnePath's superannuation division. It allows members to convert their retirement savings into a flexible income stream in a tax-effective environment when they retire. This product is closed to new members. Members are offered a comprehensive investment menu of over 200 managed investments across a range of asset classes, as well as access to listed securities and term deposits. The OptiMix Wholesale Balanced Trust Class B option underperformed the SuperRatings Index over the 10 year period to 30 June 2019.Fees are higher than the industry average across all account balances assessed, however, both account size discounts and discounts through linking family accounts are available. Members are able to switch investment options at no cost.Members are able to choose from 4 pension payment frequencies, as well as beneficiary options of non-lapsing binding nominations or reversionary death benefit payments. The pension amount can be set to automatically increase by CPI or a fixed percentage annually. Extensive reporting features that benefit members with complex investment portfolios are offered through the fund's secure website. Online account access through ClientView allows members to view investment, transaction and account details.

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