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ESI Super shares expertise with nation’s super industry
ESI Super was recently invited to share its leading insight and strategies at the 2010 Asset Allocation Summit, the largest annual event for institutional investors from Australia’s $1.1 trillion superannuation industry.
The Summit looked at optimal and strategic asset allocation strategies and new sources of returns.
It also explored key issues impacting retirement income products, including the changing retirement needs of baby boomers, strategies to address the key risk factors facing retirees, advice and fee structures, new opportunities arising from recent changes in superannuation laws and innovations in retirement income product design and technology.
ESI Super Fund Secretary Matthew Griffith was invited to speak at the Summit on a number of topics, including mitigating risk factors for retirees and the impact of new superannuation laws on retirement income.
Mr Griffith said ESI Super had been invited to take part because it was recognised as one of the leading industry superannuation funds.
“ESI Super was able to share its insight into how to design a portfolio and the best asset allocation structure to mitigate risks for retirees. This included the risks associated with longevity, healthcare, inflation and changes in social security,” he said.
“As ESI Super has a strong focus on protecting its members’ interests we were also able to share our thoughts on the impact of new superannuation laws on retirement income. This included incorporating tax-free draw downs into retirement income products, concessional and non-concessional contribution limits, flexibility in new pension rules and the impact of more people qualifying for the age pension.
“Importantly, ESI Super’s involvement in the Summit demonstrates how we maintain close engagement with the nation’s superannuation industry to ensure our products, service and strategies remain among the industry’s best.”
ESI Super targets younger members on advice
Financial Standard - Tuesday, 2 March 2010 12:00pm
Gen Y super fund members are a fickle lot - a trend ESI Super recognises and is hoping to change by engaging younger members with its new financial planning strategy.
Robyn Petrou, chief executive of the $2.8 billion fund, is looking to ramp up ESI Super's single issue advice processes in its call centre to encourage younger members to seek advice.
ESI currently boasts a tiered service arrangement for advice. Tier four represents a full planning suite, while the lowest tier represents less comprehensive services.
Petrou said the fund is working at a communication strategy that specifically targets tier 3 - where members seek advice on specific single issues such as investment choice and insurance, which leads to a statement of advice.
"[This tier] is the one we're trying to develop to get our younger members involved in seeing the value of advice," she said.
In particular, the fund is looking to significantly improve its phone advice services to provide easy access for members, said Petrou.
ESI Super is a multi-billion dollar industry superannuation fund that was established in 1995 to service employees working in the energy industry, and their families.
ESI Super replaced QESIESS and QESIE-FASF - which operated since 1980.
R uth Liew
Source: Financial Standard, 02-03-10 http://www.financialstandard.com.au/news/view/28172/
ESI Super is now a Public Offer Fund
Previously, only employees of ESI Super employers and their spouses could join the Fund. Now we're extending the offer to everyone. It doesn't matter where you're employed or even if you are not employed - we're happy to welcome you to the Fund. Any employer can contribute to ESI Super, so you won't have to worry about changing funds if you change jobs.
More good news is that, with new flexible insurance arrangements, members joining ESI Super can now transfer the same level of insurance cover they had with their previous fund when they rollover to ESI Super. Its easy, simply call our ESI Assist team on 1300 363 240.
For more information about our products and services see the ESI Super Member Guide.
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To help you better understand superannuation and other financial issues, ESI Super is producing education modules on a range of different topics. You can access the first sixteen modules by simply logging on to your Member Online Access and clicking on Education.