A special type of superannuation product generally provided by banks which is not required to have a trustee. See section 8 of the Retirement Savings Accounts Act 1997
A superannuation account maintained solely for retirement income purposes. RSA's are portable, owned and controlled by the member and capital guaranteed. The balance of the account cannot be reduced by the crediting of any negative interest or earnings or reduced by changes in the market value of assets but may be reduced by fees and charges. A RSA is usually offered by banks, building societies, credit unions and life insurance companies.
A capital guaranteed, low fee, portable retirement savings product provided by banks, credit unions, building societies, and life insurance companies. Widely regarded as inappropriate for long-term superannuation savings.
An RSA is a superannuation product which is provided by banks, building societies, credit unions, life insurance companies or prescribed financial institutions and is not managed as a trust on behalf of beneficiaries. RSA's must be capital guaranteed, fully portable, owned and controlled by the member and subject to the retirement income standards applying to other superannuation products. RSA's have different disclosure requirements than superannuation funds.
A proposed vehicle for superannuation savings, akin to a bank account, which could be selected by employees as an alternative to conventional superannuation funds. It is expected that they will be targeted particularly at part-time and casual workers who may be disadvantaged by the fee structure of conventional superannuation funds.
A Retirement Savings Account is a type of retirement plan account that is envisioned to replace all three different types of Individual Retirement Accounts that are currently used in the United States: traditional IRA, Roth IRA and Simple IRA. Contributions would be made on an after-tax basis. This is a major part of what the George W.
