RETIREMENT INCOME ACCOUNTS
What is a Retirement Income account?
BUSSQ’s Retirement Income account gives you the best of both worlds, as you can take a regular income from your super savings, leaving the remainder invested, which could help your money last longer.
Why open a Retirement Income account?
- Receive a regular income paid directly into your bank account
- Tax free investment earnings and other tax benefits
- Tax free payments if you are aged 60 or over
- Lump sum withdrawals on top of your regular income payments
- Could make your money last longer when you don’t have a regular income stream.
You’re eligible to open a Retirement Income account:
- When you permanently retire, after reaching your ‘preservation’ age (see table)
- When you leave an employment arrangement after the age of 60, or
- Any time after your 65th birthday, and if you have at least $25,000 or more to invest.
A BUSSQ Retirement Reward is available to all members who open an Income account. Your Retirement Reward is a percentage of the balance used to open your Retirement Income account*.
Superannuation income accounts also have tax advantages and, depending on the type, you may even be able to withdraw lump sums.
*More information about how much you could receive can be found in the Income account PDS. The PDS also outlines the conditions that apply to the payment of the Retirement Reward
This webpage provides general information only and does not take into account your personal financial situation or needs. Before acting, you should review the Product Disclosure Statement to ensure you have all the information about the relevant BUSSQ product and how it works and consider the appropriateness of the information to your needs or obtain financial advice tailored for your personal circumstances. A Target Market Determination (TMD) document shows the target market of consumers that a product is designed for and can be viewed on our TMD page.
Want to know more?
Complete the below form to speak to a retirement specialist or receive more information. A BUSSQ Representative will be in touch in two business days.