Cbus smashes barrier to tax-free retirement for low-balance members
Cbus has removed a major barrier to low-income members accessing tax-free retirement products by eliminating its minimum application requirement for opening an account-based pension, in a move policy and consumer groups say they want to see replicated across the industry. Cbus chief executive Kristian Fok says he wants the government to make changes to help low-balance members further, including removing minimum drawdown requirements.
