Mutual Pensions Pty Ltd has created a group self annutisation (GSA) product, called a Mutual Pension, for superannuation funds with pension members.
It is for funds that do not currently have an efficient longevity retirement product for their members or are looking for an alternative solution to annuities.
A Mutual Pension is a GSA overlay that sits over your fund and pools risk for members. It gives superannuation fund members flexibility in their investment choices and ensures funds retain their funds under management.
A Mutual Pension offers unprecedented longevity risk cover for pensioners and payments that reflects their relative likely financial needs in retirement comprising significantly enhanced payouts in later life.
It is not like any of existing pension products including annuities and ABP’s, that do not manage longevity risk and it offers better value than than the existing retail solutions (i.e Mercer and Challenger).
We have assembled a team of specialists with extensive industry knowledge and business experience who have developed a comprehensive, actuarial backed retirement product that pools funds, manages longevity risk and offers excellent payouts.