Virgin Money Super - LifeStage Tracker

Established in December 2016, Virgin Money Super is designed to provide a default structure for superannuation investments with competitive fees to optimise retirement incomes for members. The fund was a finalist for the 2018 Rising Star award, in recognition of consistent improvements to its product offerings which have significantly enhanced value for its members.Virgin Money Super LifeStage Tracker is the fund's MySuper offering, which uses a whole of life investment strategy, with the level of growth assets members are exposed to gradually reducing as they get older. As this is a new product, performance history is currently not available.Fees associated with this product are lower than the industry average across all assessed account balances. Eligible members can receive reduced asset based administration fees via the 'Virgin Money Super Baby Break' program for a maximum of 12 months. However, exit fees do apply.Automatic Death & TPD cover are provided to members upon joining the fund. Members can apply for up to $5 million of Death cover and $2 million of Death & TPD cover. Increases in existing cover upon the occurrence of certain Life Events are also available without medical evidence. Income Protection (IP) insurance is offered over a 2 year benefit payment period, covering up to $30,000 a month or 75% of salary, with a 90 day waiting period. Members have access to free simple super advice service, as well as comprehensive financial planning through Mercer Financial Advice. Online tools are also available to members to help them manage their account.