The Australian Prudential Regulation Authority (APRA) has approved Aon Master Trust’s MySuper product, which is scheduled to launch on 1 January 2014.
MySuper will apply primarily to members of employer-sponsored plans in the Aon Master Trust who have 100% of their super invested (by default or by choice) in a plan’s default investment option.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
According the company, the new investment option will take a lifecycle approach over working life of members with more growth assets when they are younger to maximise growth potential, and a gradual shift to more defensive assets to reduce the risk of capital loss as you get closer to retirement.
Aon Hewitt Wealth Management managing director, Pierre Kraft, said: "MySuper provides confidence to our members, employers and stakeholders that we are prepared and compliant for the changes in superannuation as we continue to deliver quality retirement products and solutions."
Established in 1990, Aon Master Trust currently has over $2bn in assets, more than 58,000 members and in excess of 600 participating employers.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
