Kogan Launch Low-Fee Online Super Fund
Kogan.com has expanded its burgeoning business empire by launching a new low-fee superannuation fund, Kogan Super, in collaboration with Mercer.
The fund claims to leverage both company’s capabilities – Kogan’s digital prowess with Mercer’s superannuation knowledge.
Kogan Super is positioned as an affordable option for “Australians of all ages”, offering a simplified low-cost approach including; a short online joining process, digital account management and only five available investment options.
The five investment options “initially available” from Kogan Super are below – alternatively members can create a custom investment mix.Kogan Super also offers a default Death and Total and/or Permanent Disablement insurance for selected customers.
Sign-up allows Australians to consolidate existing accounts, plus any ‘lost super’ into one Kogan Super account.
“More than ever, Australians are turning to low-cost super funds to ensure that their retirement savings aren’t being eroded over time by high fees,” claims Kogan.com Founder and CEO, Ruslan Kogan.
“By leveraging our digital capabilities and delivering the superannuation needs of Australians online, Kogan Super can substantially cut annual fees for account holders.”
“Kogan Super provides a no-frills, low cost, index-based offering with low fees enabling Australians to invest and grow their hard earned money for the future.”
Mercer Australia Chief Executive, Ben Walsh, asserts Kogan Super embraces all the latest technical innovations for a premium customer experience via digital channels.
The news comes after Kogan.com reported a 21.9% lift in net profit, defying a slump in Australian retail conditions.