• Innovation award for RetireSmart pension

    12 August 2016

    ABA-Award-Product-innovation

    Some of the Australian Catholic Superannuation staff who have contributed to the success of RetireSmart (L-R): Raymond Lee, Gary Moran, My Tang, Alex Morelli, Greg Cantor (Chief Executive Officer), Kiki Monaha, Violette Stewart, Sharnie Barabas, Michael Block, Laura Murray and Cameron Wood.

    Australian Catholic Superannuation has been recognised as an ABA100 Winner for Product Innovation in The Australian Business Awards 2016. The award recognises the Fund’s achievements in developing the RetireSmart account-based pension.

    The Fund’s Chief Executive Officer Greg Cantor acknowledged the award, “I am delighted to accept this award on behalf of Australian Catholic Superannuation. RetireSmart forms part of our ongoing commitment to improving the retirement outcomes of members. We are proud of this innovative solution and its ability to provide members with a greater level of reliability and comfort around their income in retirement.

    I would like to thank both The Australian Business Awards for making these awards possible as well as the staff at Australian Catholic Superannuation for their tireless efforts in trying to ensure members have a dignified retirement.”

    RetireSmart, an innovative retirement income solution

    RetireSmart is a retirement income solution focused on making members’ account balances last as long as possible into retirement. It’s been designed to generate a consistent stream of income during retirement while continuing to grow savings.

    RetireSmart is intended for members who prefer the convenience and freedom of not having to choose and manage their own investment mix. It operates on a pre-set investment model where the account balance is separated into two distinct investment “buckets”:

    1. Growth bucket—invested predominantly in growth assets such as shares, property, infrastructure and bonds that generate both capital growth and income in the form of dividends, rent and interest. This income is then distributed to the Cash bucket to support pension income payments.
    2. Cash bucket—invested wholly in Australian cash and term deposits with the aim of insulating pension payments during market downturns. This bucket is used as the source of regular pension payments.

    RetireSmart two bucket investment strategy

    Learn more

    The Australian Business Awards

    The Australian Business Awards are a comprehensive national awards program recognising Australia’s business, innovation and technology leaders via a set of established award categories.

    Australian Business Awards Program Director, Ms Tara Johnston, commented “For over a decade, The Australian Business Awards have recognised organisations that provide their clients with solutions to modern challenges by prioritising innovative practices that continually push the boundaries of what’s possible,”

    “The ABA100 Winners have demonstrated a commitment to developing forward-looking solutions to challenges. This adaptability has cemented their position as major influencers in their respective industries.

    “Those organisations that can continue to evolve alongside ever changing business models will secure their longevity, continually contributing to the marketplace by disrupting the status quo in a positive way,” Ms Johnston added.

    The Product Innovation award is the second consecutive Australian Business award Australian Catholic Superannuation has received. In 2015 the Fund was recognised as an ABA100 winner in the Australian Business Awards Project Management category.