Industry superannuation fund AustralianSuper has begun a review of its pension product following member demand for post-retirement products.
"The review was partly member driven. Members have said to us 'we know the fund'. They want to know whether there are solutions for them once they retire," AustralianSuper general manager of product Noel Lacey said.
"It's also a confidence issue. People are confident with the fund and want to remain in the fund."
The industry superannuation fund currently offers one pension product, which is an account-based product.
The product has garnered $1 billion in inflows since it was offered in 2008.
Last financial year the product received $500 million in inflows, Lacey said.
The review would look at a full range of products in the retirement sector, he said.
"We will look at whether to offer new products or whether to add features to our existing product. We will also look at whether to offer the product to people who are not members of AustralianSuper," he said.
"It's very early into the review. We expect to put forward any recommendations by the middle of next year."
