Industry superannuation fund Sunsuper has expanded its retirement offering with a new pension product that features an asset mix more targeted to retirees.
"The investment approach contains a diversified blend of assets with a high proportion of dividend-generating Australian and international shares, as well as other growth assets," Sunsuper chief executive Tony Lally said.
Investors who choose the strategy will receive a cash deposit into their accounts, with the balance resting in the Sunsuper Retirement investment option.
Lally said the Queensland-based fund's new look retirement pension offers greater protection from market fluctuation.
"Because withdrawals come only from the cash account for two years, it saves members from having to sell growth assets for income in this critical phase of retirement," he said.
Financial advice, a regular automatic re-balancing facility and more flexible payment methods are also available as part of the package.
"It's all part of our bid to make members' retirements as financially comfortable as possible," Lally said.
According to Lally, interest in pension products remained high despite many people delaying retirement due to the global economic crisis.
"Numbers were still up around 22 per cent on what they were at the close of last financial year," he said.
Last month it was announced that Sunsuper had won the SuperRatings pension fund of the year award.
Sunsuper has more than one million members and around $12 billion in funds under management.
