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The good news is that with a BUSSQ Transition to Retirement Income account or a BUSSQ Income account, changing your payments is really simple. As long as you keep your payment drawdowns within the legislated limits, you can turn the income stream tap up and down whenever you like. It’s as simple as completing the change of details form (PDF 105.6KB) and once we receive it, we will adjust your payment amount. Then, from the next payment cycle, you will be enjoying the new payment and be able to get on with other, more important things in life!
Of course, there are a few things you should bear in mind – if you draw out more than the income account makes in investment earnings each year, your Income account will eventually run out. And if you are in receipt of other benefits such as a Centrelink Pension or Allowance, increasing (or decreasing) what you draw could affect how much you receive from Centrelink. We are able to help you though – we provide financial advice to members and can help you to make the right decision when it comes to retirement income.
From transition to retirement and retirement planning, to superannuation investment options and retirement income stream choices, BUSSQ’s team of pension specialists is here to help. Book in to speak with a Skylight Financial Planner today and get your retirement sorted.
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