The Funeral Fund provides a convenient way for investors to save towards the cost of their funeral. Apart from crediting interest at a competitive 5.50% per annum rate, (effective date 1 January 2012) it also provides peace of mind to all parties concerned at a time of bereavement.

The Funeral Fund is available to any individual, irrespective of age or health.

Key Features

• Exempt from Centrelink/Veterans Affairs income and assets test
• Any residual funds after funeral expenses have been paid are transferred into the estate of the account holder
• Interest calculated daily and credited twice yearly
• No entry, exit or account keeping fees, nor any government charges
• Depositors can either save gradually or contribute a lump sum
• Additional deposits can be lodged at any time provided that the account balance (excluding interest) does not exceed $11,250
• Minimum deposit of $100 – additional deposits at any time via cheque, BPay or electronic transfer
• Capital guaranteed by The Uniting Church in Australia Property Trust (Victoria)

Where Are Funds Invested?

Total funds under management in the Funeral Fund as at 31 December 2011 stand at $3.7 million. Funds in the Funeral Fund are invested directly in UCA Cash Management Fund.

Other Information

• Opening a Funeral Fund account is an irrevocable decision
• A tax liability may arise on interest accruing
• Investors should obtain independent financial advice before investing in the Funeral Fund
• Joint accounts are not permitted