DEFINED BENEFIT SUPER FUND – NEVER LEAVE ONE WITHOUT GETTING ADVICE!
Defined benefit funds, if you are in one get advice before you sign for any change! Now days defined benefit funds are considered the gold standard of retirement funding. In a Defined benefit fund, your employer or the fund generally assumes the investment risk, meaning once you commence your retirement benefit, you are paid a guaranteed sum for life regardless of market volatility. Most of these funds are now closed to new members and are becoming exceedingly rare, due, in part to the often-generous nature of the fund.
If you’re considering changing from a defined benefit fund to an accumulation fund, it is highly recommended you seek advice as once you opt out you can’t get back in.