Retirement Income Covenant

As part of the legislated Retirement Income Covenant (RIC), superannuation trustees are required to develop a retirement income strategy to assist members who are retired or approaching retirement.

Superannuation trustees are required to disclose a summary of their strategies on 1 July 2022.  

A summary of our strategy is now available on the trustee disclosure section of our website. There are no obligations for employers.

Trustees are required to develop strategies to assist members to achieve and balance the three core objectives of: 

• maximising retirement income
• manage risks; and 
• providing access to capital. 

Any information provided to members is general in nature and should not be considered personal advice or a directive to members. For members with an adviser, it is recommended the member speak to their adviser before making any decisions. 

Important information
This document has been prepared by IOOF Investment Management Limited (IIML) ABN 53 006 695 021, AFS Licence No. 230524 as Trustee of the IOOF Portfolio Service Superannuation Fund ABN 70 815 369 818 (Fund). IOOF Employer Super is a Division of the Fund. IIML is part of the Insignia Financial Group of Companies, consisting of Insignia Financial Ltd ABN 49 100 103 722 and its related bodies corporate. This is general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from a financial adviser and seek tax advice from a registered tax agent. Please obtain and consider the PDS before making any decision about whether to acquire a financial product. Information is current at the date of issue and may change.