Real estate industry fund REI Super has cut its death and disablement insurance premiums and administrative fees on pensions accounts, after a negotiation with its insurer, Metlife.
Effective from the start of this month, the agreement would see savings of five to six per cent on premiums for most members. The pension admin fees would go from $182 to $85.80, in addition to percentage-based fees on investment options.
“We’ve achieved some great efficiencies and we’re delighted to be able to pass on the resulting fee savings to our pension members,” REI Super chief executive, Mal Smith, said.
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.
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A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.