IOOF has been part of the Australian community almost as long as the Australian community has been around.
IOOF offer a number of products to help you save for your retirement, including an authorised MySuper product, which provides a single diversified investment option, a default level of insurance and a low-fee structure.
It also have a number of different funds to cater to all types of investors, their Employer Plan - Choice Member fund lets you invest your money the way you want to.
Read on for an overview of IOOF superannuation and pension products.
Based on IOOF Super super fund scores in Finder's 2024 Customer Satisfaction Awards.
The IOOF Group is made up of four financial services divisions: Financial advice, platform management, investment management and trustee services. The IOOF Group is comprised of almost 15 different brands.
Employee Super falls under the platform management and administration branch of the IOOF Group. In total, the IOOF Group is responsible for more than $150 billion in client assets and the IOOF Group are a publically listed company trading in the ASX top 100.
IOOF offer an online portal for fund members called Portfolio Online. Using Portfolio Online, you can:
view your account balance, transactions, statements, reports and more. When you successfully apply to join an IOOF fund and you have your customer number. Visit the IOOF website to register for Portfolio Online.
Back to topIOOF offer two types of super fund: the IOOF Pursuit and IOOF Employer Super funds.
The Employer Division (MySuper) fund from IOOF caters to employees of businesses who use IOOF as their default super fund. The MySuper product from IOOF is authorised by APRA and complies with government MySuper regulations.
If you choose your own investment options and you’re a member of the Employer Division, you automatically become an Employer Division - Choice Member.
You can switch between the two different variations of their Pursuit fund as your personal circumstances change. Pursuit Focus is a basic superannuation product, Pursuit Select gives you more ways to invest your money.
IOOF Pursuit Focus offers the choice of mix and matching your investment between up to seven pre-mixed funds to suit your risk profile. Choose to invest you money in:
Pursuit Select gives you more ways to invest your money. As well as diversified and sectoral mixed investment funds, Select members can choose from the following investment options:
IOOF give you a cash account with your super account. The cash account is used to process all transactions to and from your super account. IOOF’s cash account provides you with a competitive return compared to other cash products.
You can open a new pension account as an existing IOOF fund member or as a new member.
Complete and send in an application booklet to apply for one of the super pension accounts listed on this page. IOOF offer a 14 day cooling off period during which you can cancel your application for membership without penalty.
You can apply for a pension account if you have access to at least $30,000 of non-preserved funds from your super and you’re retired from work.
If you want to apply for a transition to retirement pension account, you must have reached your preservation age, have access to the non-preserved funds to cover the initial deposit and you must still be employed.
Compound growth allows your super returns to be reinvested and generate their own returns, helping your balance grow much faster over time. Here's how it works.
Superannuation is the main way of saving for your retirement in Australia. Your superannuation is one big investment portfolio in your name that's managed for you by your super fund.
Conservative super funds are designed to protect your superannuation savings. These funds have more money invested in low-risk, defensive assets like cash, fixed interest and bonds and less money invested in shares.
A high growth super fund invests more of your super into growth assets like shares, aiming for higher returns over the long term.
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