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 an investment menu comprising 5 diversified and 8 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 outperformed the relevant SuperRatings Index over the year to 30 June 2021; however, underperformed over other time periods assessed.Fees for this product are lower than the industry average across medium and large 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. The fund does not charge an investment switching fee, although a buy/sell spread may apply. A reasonable level of pension flexibility is offered, with members able to choose to receive their pension payments on a monthly, quarterly, half-yearly or annual basis. Members with more than one investment options can nominate from which options income payments are made and in what proportion or have payments drawn proportionally across investments.Additional benefits available include financial planning services and latest news related to insurance, superannuation and investments from fund’s website. Members can further quickly and easily view all their latest Zurich Insurance, Superannuation and Investment information and update their personal details via My Zurich.

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