Super funds tailored to fit

By John Kavanagh
July 18 2012 - 3:00am
Cash advances ... some new products offer transaction banking facilities.
Cash advances ... some new products offer transaction banking facilities.

Superannuation-fund trustees are starting to respond to the fact that members entering retirement want different things from a super fund. The result is that new styles of super pension products are emerging that are more tailored to the requirements of people drawing money out, rather than putting it in. Innovative super funds are offering transaction banking facilities in their pension accounts to make it easier to manage cash flows. They are incorporating lifecycle investing features to reduce members' exposure to risk as they get older.

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