Aon Master Trust has gained approval for its MySuper product from the Australian Prudential Regulation Authority (APRA).
Aon will launch its default super product – Aon MySuper- on January 1 next year.
“This is an important announcement for the Aon Master Trust,” Aon Hewitt Wealth Management managing director Pierre Kraft said.
“It provides confidence to our members, employers and stakeholders that we are prepared and compliant for the changes in superannuation as we continue to deliver quality retirement products and solutions.”
The investment option will take a lifecycle approach that will adjust as members age, with a greater focus on growth assets when they are younger and moving towards defensive assets as they approach retirement.
The Aon Master Trust makes adjustments on an annual basis from age 42 so that the transition towards capital security at age 67 is gradual.
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