|
|
|
|
|
If you're planning to work part time, but are not ready for the loss of a regular income, then an ESSSuper Working Income Stream may be right for you.
Have you ever thought you’d like to ease into retirement by reducing your working hours, but can’t afford the drop in income? Thanks to Federal Government transition-to-retirement rules, more and more people are now easing into retirement by moving to part-time work, but supplementing their income with pension payments.
Others are continuing to work full time past retirement age and using the transition-to-retirement rules to boost their retirement savings in a tax effective way.
The ESSSuper Working Income Stream is designed to provide a regular income to eligible ESSSuper members who have reached their preservation age but wish to continue to work in either a full or part-time capacity.
If you are an active defined benefit member you will require a trigger event (such as resignation or retirement) to move your money into a Working Income Stream.
The Working Income Stream offers:
-
an income stream product with a SuperRatings "Platinum" rating - the highest industry rating
-
competitve fees
-
tax-free investment earnings
-
if you are over age 60, income payments are tax free
-
a choice of eight ready-made investment options, including term deposits
-
the ability to change your investment choice for your account monthly - free of charge
-
a choice of fortnightly, monthly, quarterly, six monthly or annual payments made directly to your nominated bank account
-
the option for your spouse to continue receiving regular payments when you die, and
-
the ability to make a binding or non-binding nomination for your lump sum benefit should you die.
If you have money invested in other super funds, you can roll over this money into a Working Income Stream account, which may allow you to save on fees and paperwork.
Independent superannuation research and rating organisation SuperRatings, has given our Income Stream a Platinum rating (the highest rating possible). Check out the SuperRatings report which is a quick snapshot of the plan and how it compares to others.
The Income Stream may not provide a pension for the rest of your life. Payments will only continue to be made until your account balance is exhausted. You need to be aware that your account balance will be subject to certain risks that are detailed in the Working Income Stream Product Disclosure Statement. The benefits in the ESSSuper Working Income Stream are not guaranteed or underwritten by the Victorian Government or the Emergency Services Superannuation Board.
|
|
|
|