Industry fund NGS Super has launched for its pension members a new default option with a lower risk profile and a higher level of liquidity.
NGS Super chief executive Anthony Rodwell-Ball said the new option had more invested in defensive assets, but still had significant exposure to growth assets.
"These features with [less risk, greater liquidity] have been designed into the product to reflect member research undertaken as the global financial crisis was coming to an end," Rodwell-Ball said.
As part of a growth strategy, NGS Super is looking to add another embedded financial planner to its pension division, and it has launched a pension guide and new section devoted to NGS Super's pension members.
"This is the first in a number of initiatives we are investing in to grow our pension division," Rodwell- Ball said.
The fund has also focused attention on streamlining its communications material to make it more user-friendly and easier to read.
It will introduce a 38-page member guide to replace two documents - the industry product disclosure statement (PDS) and the personal division PDS - which is 60 per cent shorter than the previous documents. It has also launched a 24-page employer guide as a reference tool for the fund's 3000 employers.
"Both initiatives [the complete revamp of guides and launch of a new investment choice product] are driven by NGS Super's commitment both to continuous improvement as a concept, as well as its commitment to simplifying its message and reflecting its members' interests, in the context of its ongoing commitment to financial literacy," Rodwell-Ball said.
