Income account - BUSSQ

Income account

Your BUSSQ Income account can provide you with a regular, flexible and tax effective income stream in retirement.

With an Income account from BUSSQ you:

  • Can adjust the income you receive, subject to a minimum amount, to suit your circumstances
  • May use your Income account to top up the Centrelink aged pension
  • May receive tax benefits, and
  • Can make lump sum withdrawals from your Income account as required.

Don't forget BUSSQ can provide you with financial advice about your retirement Income account options. 

From retirement planning and retirement income stream choices, to superannuation investment options and transition to retirement, we offer Straightforward Advice about your Income account on choosing investments at no extra cost as it is included in the fund’s administration fees. BUSSQ also offers members and non-members more complex financial advice on a fee for service basis. For more information see what sort of advice do you need?

You can join BUSSQ's Income account if you:

  • Are a member of BUSSQ
  • Have reached preservation age and have retired from the workforce
  • Are at least 60 years old and have left a job after you reached 60
  • Are at least 65 years of age
  • Have been assessed by BUSSQ's Trustee as being totally and permanently disabled, or
  • Are rolling over money from another retirement or account-based pension.

If you are under preservation age and wish to purchase a BUSSQ Income account, call us on 1800 MY BUSSQ (1800 69 2877). 

The minimum amount needed to commence a BUSSQ Income account is $25,000. You may have money in other super funds that you want to use, as well as the money you already have in your BUSSQ industry super fund, to start your BUSSQ Income account. If so, it is important you roll over those other superannuation accounts directly to your BUSSQ super fund before your super is transferred to the Income account. It is a Government regulation that you cannot add funds to a Retirement account once it has commenced, however you can commence a second account. If you want to roll over superannuation funds from your industry super fund(s), it’s easy with BUSSQ’s Supersearch tool.

For further reading on our Income account, please refer to the Product Disclosure Statement (PDF 4.9MB).

To start a BUSSQ Income account – or for assistance with Income accounts options, retirement planning, superannuation investment options or retirement income streams - 
book in to speak with a Skylight Financial Planner today and get your retirement sorted.