Retirement Planning

When your investments are managed, the results are even greater.

Retirement Planning

At some point you will reduce your hours or cease working. Your Superannuation can then be transferred into a Pension and income can be drawn down to enable you to maintain your lifestyle. Done right a Pension can be a very stable and tax effective way to hold capital. We can develop strategies and plan to achieve your retirement objectives and help determine how much capital you need to retire, what income will you need and what are the most appropriate strategies to maximise your retirement savings including Centrelink.

We provide tailored solutions to meet your objectives whilst considering all the above.

Retirement Income – Account Based Pensions

Account based pensions may provide tax-effective, regular income to help meet your income needs using your superannuation savings.

  • Pension income you receive is tax-free if you are aged 60 or over (and paid from a taxed super fund).
  • Some of the pension income may be taxable if you have reached your preservation age but are under age 60. You are entitled to a 15% tax offset on the taxable portion of your pension payments (if paid from a taxed source).
  • If you’re permanently disabled, you are also entitled to a 15% tax offset on the taxable portion of your pension payments (if paid from a taxed source).
  • You will be required to draw a minimum amount from your pension each year, which is based on your age. You are also able to access lump sums or additional pension payments if you need access to additional funds.
  • You retain flexibility by continuing to have a wide range of investment options and the ability to stop the pension at any time.
  • You can nominate eligible beneficiaries to receive the remaining benefits upon your death.
    (Please note that if you’re starting a ‘transition to retirement’ pension and haven’t met a full condition of release, different rules apply to these pensions).

Transition to Retirement Pensions (TTR)

A ‘transition to retirement’ (TTR) pension may enable you to use your accumulated superannuation savings to supplement your employment income before you are fully retired.

Benefits

  • You could maintain your current lifestyle while also reducing your working hours.
  • You retain flexibility by continuing to have a wide range of investment options and the ability to stop the pension at any time.

Take the first step. It only takes one conversation.