POWERED BY MOMENTUM MEDIA
UniSuper to launch CIPR
UniSuper has addressed longevity and sequencing risk with plans for its own comprehensive income products for retirement (CIPR).
The launch of FlexiChoice is designed to provide members with access to a default lifetime pension on retirement and greater flexibility during the accumulation phase.
UniSuper's chief executive, Kevin O'Sullivan, said providing greater security of retirement income and protection against outliving one's savings are key objectives for both the superannuation industry and the Government.
"UniSuper's development of FlexiChoice represents a major shift in the way individual superannuation funds create products specifically to address how superannuation can deliver retirement solutions for members," O'Sullivan said.
"With changing work patterns, there is a need for more flexible super and pension solutions to reflect individual priorities during different life stages.
"With FlexiChoice, members will be able to select the style that suits their current life stage and adjust that as circumstances evolve."
This announcement follows the Federal Government's support of the Financial System Inquiry recommendation that called on the super industry to develop CIPRs to improve outcomes for retirees.
Flexichoice is expected to open to members in 2017/18.
Recommended for you
The pace of economic growth in Australia is expected to “grind higher over coming quarters” off the back of lower inflation, falling interest rates, and a robust labour market, Deloitte has said.
The superannuation sector has welcomed confirmation that a controversial US tax provision will be removed.
A new analysis from environmental finance group Market Forces has reportedly discovered that AustralianSuper is on the b...
Treasurer Jim Chalmers has held talks with US Treasury Secretary Scott Bessent, intensifying efforts to resolve concerns over section 899 of the proposed “Big Beautiful Bill” in the United States.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
