POWERED BY MOMENTUM MEDIA
Intrust Super reduces IP premiums
Industry super fund, Intrust Super has announced a substantial reduction in its income protection premiums.
The fund announced today that premiums on its income protection policy, PayGuard, will fall by 12 per cent from 1 October 2017.
Commenting on the premium reduction, Intrust Super chief executive, Brendan O’Farrell said reducing premiums would ultimately boost the retirement savings of participating members.
"We understand the importance of not only protecting our members and their families, but also their super balances,” he said. “Intrust Super continues to work hard to deliver insurance that meets our members' needs on a cost, coverage and accessibility basis.”
"Our PayGuard Income Protection premiums will reduce from 0.7 per cent to 0.615 per cent of gross income or in dollar terms, $7 per $1,000 of cover to $6.15 per $1,000 of cover. It will continue to cover up to 90 per cent of members’ wages plus an additional 10 per cent of the paid benefit contributed to their super accounts,” O’Farrell said.
“Insurance in superannuation works because it helps provide members and their families with the protection they need, with the convenience and cost benefits of being handled out of the super fund. However, it only works if adequate cover is provided, and if premiums represent good value,” he said.
Recommended for you
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
