One of Australia’s largest e-tailers is getting into something other than electronics, consumer goods, mobile, and insurance: Kogan is entering superannuation, too.
You can buy a TV, an air conditioner, an overseas flight, and get yourself a new mobile connection from one of Australia’s largest e-commerce companies, and pretty soon, you’ll be able to invest your superannuation with them, as well.
This week, Kogan has announced that it will be entering the super fund world, working with superannuation company Mercer to create what Kogan is describing as “a new no frills, ultra-low fee Australian superannuation fund”.
According to an initial statement, this will go on the defense against what Kogan’s Executive Director David Shafer describes as “the ongoing erosion of their wealth by high fees”, asking Australians whether compounding is working for their super.
“Kogan.com’s mission is to deliver price leadership through digital efficiency, and we are proud to be able to help Australians preserve more of their hard-earned money by delivering an ultra-low fee superannuation solution,” said Shafer.
Not expected to launch until at least early next year, Kogan Super is aiming to manage a share of the 28.6 million superannuation accounts in Australia. More details will be released closer to Kogan Super’s launch.