An account based Pension (or allocated Pension) can provide a number of different investment options, which means you may potentially grow the value of your investment at the same time as you generate an income stream.
If you take your super as a lump sum, there may be various tax issues which need to be taken into account, and what you choose will be dependent on many factors specific to your situation. You'll need the right investment strategy to ensure you money lasts, and your desired retirement lifestyle is achieved.
Importantly, income from an Account Based Pension is tax free after age 60.
Before you retire you need professional advice to help you structure your super and your retirement income, and maximise your tax and Centrelink benefits.
To see a Financial Adviser about strategies that could make a difference to your retirement lifestyle, call 1300 132 982, visit a branch or if you are short on time, we'll contact you.
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You should consider our Product Disclosure Statements and/or other Disclosure Documents. This information and advice is provided without reference to your personal circumstances so you should consider whether this product fits your objectives, financial situation and needs. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant.
If you are receiving advice from one of our Financial Advisers in Western Australia, you will be dealing with Financial Solutions Australasia Pty Ltd ABN 36 008 939 599 AFSL 244 308, a 100% owned subsidiary of Australian Central Credit Union Ltd ABN 11 087 651 125 AFSL/ACL 244 310, trading as People's Choice Credit Union.