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NGS Super has launched its Easy Default offering which aims to help members manage savings while hitting retirement income objectives.

NGS Super is set to launch a new retirement product this November in a bid to help decumulation phase members retire with confidence.

Treasury's Retirement Income Covenant allows trustees to address member acquisition and retention challenges, following the introduction of ‘stapling’ as part of the Your Future, Your Super reform.

However, many retirees favoured cash because they wanted the peace-of-mind that protection and return certainty offered but the downside in the current environment was minuscule returns.   “With interest rates at unprecedented lows, and unlikely to head substantially higher anytime soon, retirees need the defensive component of their portfolio to work harder for them,” Rady said.  “They need to ask: how can I get a better return than I’m currently getting from my term deposits or cash, while ensuring there is still sufficient downside protection for my retirement savings? We believ...