Working Income Streams


If you'd like to work part time in the lead up to your retirement, but are not ready for the loss of a regular income, then an ESSSuper Working Income Stream may be right for you. Thanks to Federal Government transition-to-retirement rules, you can now ease into retirement by moving to part-time work, but supplementing your salary with income stream payments.


What is a Working Income Stream, and how does it work?

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'd like to work part time in the lead up to your retirement, but are not ready for the loss of a regular income, then an ESSSuper Working Income Stream may be right for you. Thanks to Federal Government transition-to-retirement rules, you can now ease into retirement by moving to part-time work, but supplementing your salary with income stream payments.

The Working Income Stream may also help you if you want to continue full time work past your retirement age, but boost your retirement savings in a tax effective way.

If you are an active member of a defined benefit fund with ESSSuper, you will require a trigger event (such as resignation or retirement) to become eligible for transitioning to a Working Income Stream.

 


1. You should check any relevant exit fees you may incur, or any insurance arrangements that may be forfeited, or any other effects this transfer may have on your benefits, before rolling your money into our fund.

Why choose an ESSSuper Working Income Stream?

The Working Income Stream is an easy and convenient way to continue your membership with ESSSuper when you retire. It offers:

  • an income stream product with a SuperRatings "platinum" rating - the highest industry rating
  • competitive 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
  • the ability to make a binding or non-binding nomination for your lump sum benefit should you die, and
  • the ability to make as many withdrawals as you like, free of charge.

 

How do we rate?

A "best value for money" fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement goals.

- SuperRatings Assessment

For the eighth consecutive year, independent superannuation research and rating organisation, SuperRatings, has given our Retirement Income Stream a Platinum rating (the highest rating possible).

SuperRatings logo blue  logo-platnium-pension2016.png  SuperRatings 7yr platinum performance

Read the report (PDF 227.8KB)

SuperRatings is an independently owned superannuation research company providing data analysis, information and commentary to both the public and the superannuation industry. Established in 2002, it is the most widely used and accepted ratings firm in the superannuation industry. Refer to www.superratings.com.au for more information.

 

 


Before making any decisions about ESSSuper products or services, you should read the applicable PDS or Handbook. You can access all of our publications here.