AXA Business Superannuation (features and benefits)
AXA Business Superannuation is a third generation master trust developed for the market by AXA New Zealand in consultation with the market.
Tuesday, May 2nd 2000, 12:00AM
How AXA Business Superannuation works:
- It is a registered superannuation scheme. Administration Manager is National Mutual Corporate Superannuation Services Limited.
- Members’ interests are specifically governed by the scheme’s trust deed, which is administered by the Trustee, New Zealand Permanent Trustees Limited.
Features
- The key feature of AXA Business Superannuation is flexibility of investment options and range of investment asset managers. It offers 28 investment options.
- Flexibility through choice in a range of ready-made portfolios or build-you-own. There are ready-made portfolios, five asset sector specific multi-manager portfolios and 16 asset sector specific single manager portfolios.
- Ready-made Portfolios : AXA Business Superannuation enables members to choose between two sets of portfolios totalling 7 composite portfolios (ranging from higher to lower risk mixes of asset classes). The asset classes are Domestic Fixed Interest, International Listed Property, International Fixed Interest, NZ & Australian Equities, International Equities and Cash.
There are:
- Three multi-manager composite portfolios, managed by a range of prominent domestic and international investment asset managers.
- Four similar composite portfolios managed mainly by AXA New Zealand.
- Members can split their contributions between portfolios, which provides for added flexibility to suit different or changing needs.
- 5 Sector Specific Portfolios : these are portfolios in which the member can mix and match where their funds are invested. Allow the member to choose their level of contribution for each of the five asset classes. Once the member has chosen a split, their investment in each asset class is managed by a group made up of prominent fund managers – this spreads performance risk.
- 16 sector specific single manager portfolios –allow a member to determine the level of contribution for each asset class. The difference is that each asset class is managed by one fund manager – this enables members to choose their fund manager for all/some of the asset classes.
Benefits
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Shared costs |
AXA Business Superannuation operates under a master trust structure that allows individual employers to enter into one shared scheme. This means that the costs of running the scheme are shared by all. |
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Low -hassle |
Minimal management involvement means employers time can be used to focus on the business |
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Flexibility |
From ready-made to build-you- own portfolios. Employers can choose the contribution options and payment methods that suit their business. |
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Choice |
Extensive range of investment options and prominent asset managers. |
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Portable |
Members leaving can apply to switch to an AXA personal superannuation plan within the scheme. |
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Ease & Efficiency |
An AXA Business Superannuation is easy to set up. |
Costs
Administration Fees
- Monthly Member Fee ($6)
- Scaled Plan Fee (Scaled % fee based on funds under
management at plan level)
- Investment Management Fee (Asset charge which varies between
portfolios)
- Withdrawal Fee ($50, payable after the 3rd withdrawal in any year)
- Insurance Premiums (per member insurance cost)
Advisory fees
- Plan Fee (% fee based on funds under
management at plan level and
commission chosen)
- Contribution Fee (% Contribution charge)
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