Account options
At BUSSQ we’ve got account options to suit wherever you’re at - working, preparing to retire, or already retired. It’s all about making your super work for you, every step of the way.
BUSSQ Super account
This is where your super goes and grows over the long-term.
What you’ll get:
- Investment choice: A range of pre-mixed (diversified) and single asset class options. If you don’t make a choice, we’ll invest your super in our Balanced Growth investment option.
- Insurance cover: Eligible members receive default Death and Total and Permanent Disablement cover1. You can change your cover to suit your needs, including applying for Income Protection cover.
- Personal service and advice2: Get advice on BUSSQ products (insurance, investment choice, contributions and retirement) at no additional cost.
Anyone can join BUSSQ.
BUSSQ Transition to Retirement Income account (TTR)
Looking to ease into retirement? If you’re aged 60 to 653 and still working, you can reduce your hours of work and start using your super to top up your income.
What you’ll get:
- Regular income payments4: Choose how often and how much you’d like to be paid from your super while you’re still working.
- Tax benefits: From age 60, income payments from your TTR are tax free.
- Keep growing your super: Your balance stays invested so it can continue to grow.
You’ll need at least $25,000 or more to open a BUSSQ TTR.
Get all the details
For more information on our products and account, read the applicable Product Disclosure Statement (PDS) or Handbook.
Advice options
We’re here to support you in your super and retirement journey.
BUSSQ offers different types of advice and can help you get your head around your super, insurance, investments and start planning for retirement.
Retirement Income account
When you retire, you can turn your super into a Retirement Income account and use your super to pay you on a regular basis.
What you’ll get:
- Regular income payments5: Choose when and how much you get paid.
- Take out extra when you need it: Access to lump sums when you need them.
- Tax-free payments and investments: From age 60, income payments and investment earnings are tax free.
- Get a retirement reward: Eligible members could get a retirement reward to help you retire with more.
You can open a Retirement account if:
- You’ve reached age 60 and are retired.
- You’ve stopped working with your employer after turning 60.
- You’re 65 years or older
- You’re an eligible recipient of a super death benefit
- You’ve been assessed by the Trustee as being permanently incapacitated, or terminally ill.
You’ll need to move at least $25,000 or more from your super account to open a BUSSQ Income account.
Child Income account
A BUSSQ Child Income account is a simple way to provide an income to support children under the age of 25 (or certain other children that have a financial dependency or disability), in the event of a parent’s death.
The Child Income account Terms and Conditions is designed to make sure you have the information you need to help you make informed choices about the BUSSQ Child Income account.
Footnotes and disclaimers
1. Read the BUSSQ Insurance Handbook for eligibility criteria and more information on our insurance offering.
2. The cost of this advice is included in the administration fees and costs. This will be detailed in the Statement of Advice your adviser gives you. Personal advice is provided by our financial planners who are Authorised Representatives of Industry Fund Services Limited (IFS) (ABN 54 007 016 195 AFSL 232514). IFS is responsible for any advice given by its representatives. Further information is available in our Financial Services Guide.
3. Your super is preserved until age 60 and can't be withdrawn except under special conditions. Read the Income account PDS for more information.
4. If you have a TTR, you have a maximum payment limit of 10% of your account balance, calculated when your account starts, and then annually on 1 July. This maximum is not pro-rated.
5. Subject to the government's minimum annual payment requirements based on your age. Read the Income account PDS for more information.