Aviva has launched its new product Navigator Business Super, designed to cater the needs of employer sponsored superannuation market.
According to Aviva, features of the new product include a simplified flat fee structure typically associated with industry funds, enhanced group life offering and improved ancillary benefits package.
Specific enhancements include, the replacement of four existing fees with one A$3 per week member administration fee for all new employer plans; enhanced group life offering; Dynamic Default Trustee Investment Option.
Andrew Barker, general manager of wealth management products at Aviva, said that the new product was the result of the increasingly blurred lines between what providers were offering across market segments traditionally defined as industry funds and retail funds.
Mr Barker added: These enhancements, coupled with our dedicated service and support, make Navigator Business Super the automatic and easy solution for employer sponsored superannuation.