A transition to retirement strategy gives you the flexibility to draw an income from your super, without having to give up work completely.
You can use it to:
Reduce your work hours, but maintain your income;
Increase your income, but keep your current work hours; or
Boost your super, without lowering your income.
Transition to retirement can help reduce the tax you pay on both your income and any investment earnings you receive. In doing so, it opens up a range of possibilities to improve your lifestyle, income and even your super in the countdown to retirement.
Fee Analysis: Research conducted by SuperRatings Pty Ltd, holder of Australian Financial Services Licence No. 311880. Analysis current as at June 2016, and limited to the member, administration and investment management fees of 168 retail, industry, corporate and government pension funds. ^The ANZ Smart Choice Super fee includes a 0.01% APRA levy and 0.03% Stronger Super levy charged on 09/06/16 In conducting the analysis, the ANZ Smart Choice Pension - Growth diversified investment option has been compared against the main Balanced option of products contained within the SuperRatings database. Annual fees are calculated on a constant $250,000 pension balance. Data used in the research from sources considered reliable. It is not guaranteed to be accurate or complete. For a copy of the SuperRatings research click here or call 13 12 87.
All fees are subject to change. Other key features are relevant when choosing a super fund, including performance.
Before redirecting your super or moving your money into ANZ Smart Choice Super and Pension, you will need to consider whether there are any adverse consequences for you, including exit fees, other loss of benefits (e.g. insurance cover), increase in investment risks and where your future employer contributions will be paid.
Taxation law is complex and this information has been prepared as a guide only and does not represent taxation advice. Please see your tax adviser for independent taxation advice.
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ANZ Smart Choice Super and Pension is issued by OnePath Custodians Pty Limited (ABN 12 008 508 496, AFSL 238346, RSE L0000673), a wholly owned but non-guaranteed subsidiary of Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) (ANZ).