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Retirement Pension

In retirement the last thing you want to be worrying about is money. With a Local Super Retirement pension (an account based pension) you have the convenience and flexibility of a regular income paid directly to you that is invested in a way that suits you.

The Retirement pension offers:

• Nil entry or establishment fees.
• Nil ongoing administration fees.
• Nil payment fees for pension payments or lump sum withdrawals.
• Lump sum withdrawals (minimum $2,000).
• 6 investment options to choose from.
• Select from monthly, quarterly, half-yearly or annual pension payments.
• Payments are made to your nominated bank account.
• Minimum annual pension payment calculated on age-based factors and the account balance as at commencement and at 1 July each year.
• In the event of death, the account balance is payable to the nominated beneficiary(ies) or your estate. If your spouse is the beneficiary they may choose to continue the Retirement pension in their name.

When selecting your investment option(s) you also have the choice of selecting the investment option(s) from which the pension payments or lump sum withdrawals are made from.