Kevin O’Sullivan
UniSuper, the $60 billion superannuation fund for Australia’s higher education and research sector, has listened to its members and opened-up access to family and former members with the launch of Personal Accounts.
The move follows a strong demand from members to allow a broader range of relatives, not just spouses, the option to join the fund.
Personal Accounts, an accumulation style super product, offers an easy and fast online application process along with strong investment options, low fees and access to UniSuper’s award-winning advice team.
It is open to members’ spouses and children, as well as immediate and extended family members including in-laws, cousins, grandparents and many other family connections living in Australia.
Personal Account members will have access to the same 16 investment options, with strong historical long term performance, as the Accumulation 1 product. This includes the Balanced option, which has delivered a 10.85 percent return per annum for the five years to 31 October 2017* and the three dedicated Sustainability/ Environmental investment options.
Since the launch, more than 500 online applications have been received.
Kevin O’Sullivan, UniSuper CEO, said it was exciting to extend the UniSuper family.
“Over the years, many of our members have told us they want to share the exceptional value, strong long-term performance and quality advice they receive through UniSuper with their broader network, not just their spouse. So we’ve made this a reality.”
“We listened to our members and are proud to offer our dedicated services more broadly to their families, knowing connections with the higher education and research sector run deep.”
“We’ve been thrilled by the level of interest,” Mr O’Sullivan said.
UniSuper remains dedicated to helping higher education and research employees—and now their families—achieve the retirement they deserve.
Existing members under Spouse Accounts will see minimal changes beside the new name.
* Past performance is not an indicator of future performance
