Account Based Pensions – Star Ratings
Account-based pensions are a vital way of accessing superannuation for a large portion of the retired and retiring population. Socking money away into super for years beforehand pays off when you can draw down a regular income from your super balance to at least partially replace your salary.It′s no secret that the superannuation concept is not widely understood and, in the case of young workers, not considered relevant. The fact is, though, that superannuation is playing an increasingly important role in funding retirement lifestyles and is playing a part in easing the load on Government′s payment of age pensions.There is a lot to consider when looking at the fund that′s right for you. Low cost is not the be all and end all but fees definitely do play a major part in how much of your money remains in the investment pool, particularly after you either draw down a lump sum or switch over to an income stream from your super account.
Comparing account-based pensions helps you make decisions, even if it is just to see how your fund stacks up. This time around, we looked at 66 different products from 59 superannuation providers.
We trust that our research is useful to those keen to make the most out of their financial future.