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News frontSimplifying choice Heather Dawson – Russell’s Managing Director, Retirement Services – was in the news recently sharing her knowledge of the US experience with investment choice. Ms Dawson said the American experience had shown that too much choice had not served the best interests of investors, and that people were now turning to simplified investment solutions that offer embedded advice on key decisions such as what managers to choose and what asset allocation to set. “The US has provided us with a real insight into actual investor behaviour – which is highly relevant to Australia in terms of developing solutions that will serve the best interests of investors. Our LifePoints Target Date Portfolios, which automatically alter their asset allocation over time, is one such solution.” Heather predicts that target date funds will become a significant investment phenomena in Australia over the coming decade. “Russell was the first to provide such a solution here and already others have followed our lead,” she said. While simple in concept, highly-sophisticated investment vehicles support the Russell LifePoints Target Date Portfolios, drawing on Russell’s multi-manager expertise and leveraging Russell’s 494-strong global investment manager research team. Find out more at www.russell.com.au – just click on the Russell LifePoints interactive demo. A more flexible super solution for spouses We’ve reviewed the design of Spouse Accounts following last year’s introduction of Choice of Fund, and legislative changes proposed in this year’s Federal Budget that may make contribution splitting less relevant as a tax minimisation strategy for couples, particularly those intending to cash out their super money after age 60. We concluded that current Spouse Account arrangements won’t provide the sort of flexibility that members’ spouses will be seeking in this new super world. So, from 1 September 2006, all spouses signed up as new members will have a Russell SuperSolution Personal Division account rather than a Russell SuperSolution Spouse Account. Greater flexibility will be the big advantage of this change for a new spouse member, providing a super account that:
For Spouse Accounts already opened – or opened before 1 September 2006 – there will be no change, but existing Spouse Account members can transfer to the Personal Division to get the flexibility described above. Before considering transferring, learn more about the Personal Division by logging in and downloading a Personal Division PDS. Annual benefit statement and reporting season The annual reporting season commences late July with distribution of annual benefit statements. Annual reports come out a bit later on, after the consolidated financial accounts become available. While your annual benefit statement provides an important update for you, please remember that it only provides a snapshot of your benefit on a particular day of the year – 30 June – and, more importantly, that you can get benefit updates on any day of the year just by logging in and clicking on ‘Quotations’. If you have any questions about your annual benefits statement, call the Helpline on 1800 555 667. Binding death benefit nominations Binding death benefit nominations were introduced to Russell SuperSolution on 1 July 2006. Choosing to make your death benefit nomination(s) binding is optional. Please call the Helpline or download the latest PDS for details. ‘Non-lapsing’ nominations, described last issue, have not been (and will not be) introduced as previously advised. The binding nominations that have been introduced do lapse.
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Terms
of Use. Privacy
Policy.
Achieve is issued by Russell Investment Management Limited (RIM), ABN 53 068 338 974, AFSL 247185. In preparing this information we haven’t taken into account your own personal circumstances, including what you want and need for your financial future. It is important for you to consider these matters and also to obtain and read the relevant PDS before you decide whether to acquire or to continue to hold a product. Go to www.yoursupersolution.com.au to download a PDS. Interests in Russell SuperSolution are issued by Total Risk Management Pty Ltd.
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accepts all forms of contributions (including the contributions the spouse’s employer makes); 