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Equip unveils ‘fund-wide’ retirement support services
With a range of regular income options and the new personalised services, including a dedicated retirement centre, Equip said it is looking to implement a “fund-wide” focus on retirement.
According to the fund, the launch will complement its new “Don’t be shy about retiring” campaign.
“We are enhancing and repositioning our retirement services to provide the help and support for our members in the retirement phase of their lives,” said Equip CEO Scott Cameron.
“We aim to fulfil a need that is unmet in the market, offering personalised service every step of the way at this critical time – for both new and prospective members.”
Namely, recent research from Equip revealed that while Australians are marketed retirement products, many of them claim that, once taken up, they never hear from those funds again.
However, Equip’s research found that Australians have a preference for direct, personal contact from their funds to better understand retirement options and pension products.
“While other funds simply focus on accumulating super balances, Equip Super has recognised through comprehensive research that those nearing retirement have an unfulfilled need. We feel a medium-sized fund such ours is well positioned to cater for those needs, to become Australia’s leading retirement destination,” Cameron said.
Equip further revealed that members will have access to dedicated “retirement specialists” to act as a “personal guide” through their journey.
In explaining this new function, Equip head of retirement Sam Higgie said that Australians deserve a better level of service when it comes to this stage of their lives.
“We will provide the dedicated, proactive and personal support people approaching and in retirement need,” Higgie said.
“The retirement specialists are qualified to give general advice but more importantly provide guidance and support for all things retirement, not just the technicalities of retirement products.”
Namely, the specialists will be able to answer “key” questions such as when a member should retire, how much super they will need, and how they can be guaranteed the income they need in the next phase of their retirement.
“Retirement looks different to every member but for many, retaining their super within the super environment, and specifically the pension environment, enables them to keep their money invested whilst drawing an income and taking advantage of tax benefits,” Higgie said.
“We aim to prepare members for retirement, ensuring they feel supported and know we will be there when they need us the most … We will communicate regularly with them during retirement, checking in to make sure that our products and services are still meeting their needs.”
AUTHOR
Jessica Penny
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