Zurich Account Based Pension

Zurich Account Based Pension was launched in 1994, with the aim to provide members with a flexible and convenient way to manage their retirement. A minimum of $20,000 is required to open an Account Based Pension, and a Transition to Retirement Pension is also available.Members have access to 13 Diversified and Single-Sector investment strategies. Alternatively, members can select the Automatic Investment Adjuster, which uses a combination of several existing investment options and reduces a member's exposure to growth assets as they get older. The Managed Growth option underperformed the SuperRatings Index over the 10 years to 30 June 2019.Fees for this product are lower than the industry average across all account balances assessed. A minimum administration fee of $267.60 p.a. applies to each account, while members with larger account balances are offered reduced administration fees. No switching fees are charged, although changing investment options may incur transaction costs. Zurich Account Based Pension offers a reasonable level of flexibility. Members can choose to receive their pension payments on a fortnightly, monthly, quarterly, half-yearly or annual basis. Members can also nominate a specific pension drawdown order or have payment made pro-rata across investments.The fund's website contains useful superannuation information to assist members. Members can also access their account via My Zurich.