ACCESS PENSION

You can now access your superannuation before retiring. If you have reached your preservation age you can commence a Local Super Access pension (an account based pension) with super from your Marketlink account.

 

The Access pension offers:

 

• Nil entry or establishment fees.
• Nil ongoing administration fees.
• Nil payment fees for pension payments.
• 6 investment options to choose from.
• Minimum initial balance of $10,000 with a minimum of $1,000 to remain in your Marketlink account.
• Minimum annual pension payment calculated on age-based factors and the pension account balance at commencement and at 1 July each year.
• The annual payment is limited to a maximum of 10% of the account balance as at commencement and at 1 July each year.
• Select from twice monthly, monthly, quarterly, half-yearly or annual pension payments.
• Payments are made to your nominated bank account.
• Nominate a preferred beneficiary or put in place a binding nomination in the event of your death. If your spouse is the beneficiary they may choose to continue a pension in their name.

 

Lump sum withdrawals are not permitted. The Access pension can be cancelled at any time and the balance can be rolled back into your Marketlink account.

 

When selecting your investment option(s) you can also choose the investment option(s) from which your pension payments are made from.

 

For further information please refer to the Pensions Combined Product Disclosure Statement and Financial Services Guide, Fact Sheet FS19 Transition to Retirement or contact us.