Market Linked Pension

CLOSED TO NEW MEMBERS

How it works

A Market Linked pension provides you with a regular income stream. There are some key differences between a Market Linked Pension and an Allocated Pension:

• You have some say as to the term of the pension within Government specified 
  ranges based on average life expectancy for your age and sex (or that of your 
  reversionary beneficiary if applicable).
• The amount you are paid each year will vary based on the investment 
  performance of your account. You have very limited ability to alter your payments as they are based on a fixed formula which you can vary by up to 10%.
• Aside from your regular pension payment, you have very limited access to the 
  money in your account and cannot generally make cash withdrawals.
• On your death, money remaining in your account is available to be paid to your beneficiary or your estate or your reversionary beneficiary to receive your pension.

Please note: a reversionary nomination may only be established at the time of commencing an ESI Super Income Stream.

Your Market Linked Pension account

Your initial investment was converted into units in the investment option you selected. Units are used to track the value of your account. Every working day, the unit price is adjusted to reflect the actual performance of the investments.

Your account increases or decreases depending on the investment performance of your chosen investment option. Your account balance is also reduced by the Market Linked Pension fees and payments made to you.

Each year your will receive a detailed Annual Statement showing your account activity and balances.

If you rollover the Market Linked Pension to another provider or pass away before the end of the term originally set, the amount you get back will be the balance of your account at that time less any exit charges, fees and tax payable.

How is my account invested?

You decide how your money is invested by choosing from a number of investment options offered by ESI Super. Each option has different objectives and strategies.

If you do not make an investment selection, your Market Linked Pension will be invested in the Balanced option (this is the 'default' option).

Investment options are invested through investment funds managed by carefully selected specialist investment managers. The managers have responsibility for the investment of the assets within specific constraints.

The Annual Report to Members provides details of current investments.