Plum Super, a NAB Group Company, has launched a new product designed to help Australians more easily and confidently manage their superannuation in the lead up to and during retirement.

Unique to the marketplace, Plum Retirement Income (PRI) is an account-based pension that offers a flexible and simple way for people to convert their superannuation into a steady income stream.

PRI offers a holistic retirement experience, giving members access to phone-based help, online education and an electronic application process– helping provide a level of assurance for Australians when it comes to their retirement financial decisions.

NAB General Manager of Customer Experience, Superannuation, Lara Bourguignon, said PRI is another example of how NAB is continuing to support Australians with quality retirement products.

“Our absolute focus remains on helping our members enjoy their retirement and offering products that provide flexibility, choice, and support,” Ms Bourguignon said.

PRI offers two different investment paths – Cultivator and Self Select – that cater to both active and passive investor types.

The Cultivator Investment Path offers members an automated investment and drawdown strategy, designed to deliver short to medium term income stability and long-term capital growth, ultimately aiming to optimise retirement income to last as long as possible. The Self Select Investment Path relies on the member to select and monitor their investment portfolio and offers five investment levels designed to offer flexibility in investing to meet their retirement needs.

“This new product demonstrates our commitment to innovating in the retirement space, and ensuring we continue to have the right retirement solutions to suit the needs of all Australians,” Ms Bourguignon said.

PRI is now available to all new and existing Plum members; visit the Plum website for more information.