This product offers a fee-free balanced fund plus the ability to trade shares. instinct and reason used discrete choice modelling to ensure the optimal design of this product in 2012.
Living Super was designed to meet the needs of people both in the wealth building stage and in retirement. It was designed to allow ING DIRECT customers the chance to be reminded whenever they visited their account about the current state of the superannuation. ING Direct allows customers to have their bank account and super account details available with a single log-on and in so doing ING Living Super members see their super balance alongside their existing bank accounts when they are doing online banking. They can make contributions, switch between investment options, update personal details, buy insurance and trade shares.
It allows customers to switch their superannuation into four portfolio options: cash and term deposits; balanced; a range of managed investment options, such as Australian shares, international shares, growth and high growth; and a direct share-trading option. The most important benefit is the option of investing in cash or a balanced portfolio and having no establishment fee, termination fee, management fee or administration fee. ING Direct says that it is the only fee-free balanced fund in the market. Investors can’t control the stock market but they can control costs and now they can control the risk profile they adopt. Another benefit is the ability to trade shares directly and share trading is conducted in real time.
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