Super Stream Pension
Intrust Super wants to help you with your decisions about retirement. The most common one is likely to be how you want to receive your super – whether you choose to receive it through regular pension payments, withdraw it as a lump sum, or like many people, maybe a combination of both.
Super Stream is our low-cost pension product that offers a flexible choice of lump sum and regular payment options and a wide range of investment choices for those retiring or nearing retirement. Super Stream provides you with tax-free investment earnings on your money, with the reassurance of a regular income.
The benefits of investing with Super Stream include:
- A regular automatic payment direct to your bank account.
- You choose how much income you receive and how often you receive it (subject to the minimum and maximum amounts set by the government).
- A choice of 10 ready-made investment options or any mix of these.
- All investment returns in your Super Stream account-based pension are tax-free.
- All investment returns in your Super Stream Transition to Retirement account are taxed up to 15%.
- If you are retired, you can access your full benefit or withdraw lump sums at any time.
- Access to a team of in-house financial advisers and a dedicated pension hotline.
- Two different Super Stream options – a Transition to Retirement account or an account-based pension – to suit your individual needs.
Your pension options
With two different Super Stream options – a Transition to Retirement account or an account-based pension – we have a pension to suit you:
- If you’re already retired or plan to retire soon, a Super Stream account-based pension could be a great option for you.
- Through a Transition to Retirement account, you can draw on your super savings while you’re still working (providing you’re eligible).
To determine which pension option best suits your needs, we strongly recommend you seek independent financial advice before buying any retirement product.
Super Stream Transition to Retirement
If you are entitled to access your super and you’re still working, you can open a Super Stream Transition to Retirement account and receive income from your super as well as your job. Use it to top up your income while working less or combine a pension with salary sacrifice to boost your super in a tax-effective way.
|Income payment frequency||Fortnightly, monthly, quarterly, half-yearly or annually|
|Minimum investment amount||$20,000|
|Investment choices||Select one option or a mixture of options from a range of investment choices. If you do not make a choice, your money will be invested in the Balanced option. You can switch investment options with absolutely no charge. You can switch investments up to once a week.|
|Lump sum withdrawals||Under current legislation, this option is not available.|
|Investment earnings||Investment earnings are taxed at up to 15 per cent.|
Salary sacrifice and transition to retirement pensions
Salary sacrificing your pay into your super and taking income from a Super Stream Transition to Retirement account instead could make a big difference to your retirement benefit. That’s because income from your super is tax free once you turn 60, and for most people, more tax effective than regular income between the ages of 55 and 59.
You should consider the Super Stream Product Disclosure Statement before purchasing a pension product.
Super Stream Retirement Pension
An Intrust Super Super Stream account-based pension provides you with a regular income and the flexibility to take lump sum withdrawals when you want. You can choose how often you receive your Super Stream payment, and how much income you want (a minimum pension amount applies).
We recommend that you seek financial advice before purchasing any retirement product. Talk to your Intrust360° in-house financial adviser on 1300 001 360 for assistance.
You’ll find key features of the Super Stream account-based pension in the table below.
Income payment amount
At least a minimum based on your account balance and a minimum pension valuation factor for your age each year.
Income payment frequency
Fortnightly, monthly, quarterly, half-yearly or annually.
Minimum investment amount
Select one option or a mixture of options from a range of investment choices. If you do not make a choice, your money will be invested in the Balanced option. You can switch investment options with absolutely no charge. You can switch investments up to once a week.
Lump sum withdrawals
You can take lump sum withdrawals as often as you like provided you have enough money in your account to cover the withdrawals.
Pension Transfer Bonus
We’ve recently introduced a Pension Transfer Bonus for eligible members who move their Intrust Super accumulation accounts to a Super Stream Account-Based Pension.
The bonus, which could add extra thousands of dollars to your super balance, will be paid into your account once set up.