RETIREMENT INCOME STRATEGY

Keep living your best life with help from Active Super.

Active Super Retirement Income Strategy

When it comes to retirement, everyone’s situation is different and every member is unique, with their own vision for how life will be in their later years. But whatever your circumstances, most people share the same concerns:

What if my savings don’t last as long as I do?
What if my retirement savings fall in value or don’t perform as expected?
What if prices go up and I can’t afford to live on the income I’ve set aside?

Active Super can help take the worry out of retirement, with strategies to manage these risks and achieve your retirement goals, so you can keep living your best life.

In accordance with the Retirement Income Covenant, we offer products and services to help you:

Maximise your retirement income
Manage risks to your retirement savings
Enjoy flexible access to your funds when you need them.

Above all, we’re here to help you actively plan and enjoy your retirement. You’ve earned it.

Date of birth	Preservation age
After July 1964	60
1 July 1963 - 30 June 1964	59
Before 30 June 1963	Reached

You can withdraw your super if you’re:

65 years or over, whether you keep working or not
60 or over and change employers or stop working (temporarily or permanently)
Under 60 and have permanently stopped working, and you’ve reached your ‘preservation’ age (the age your super is preserved to before you can withdraw it). This depends on when you were born:

In special circumstances, like financial hardship or compassionate grounds, you may be able to access your super sooner. Visit the ATO website to learn more.

Why does preservation age differ? People are living longer in retirement. So, the Government is gradually increasing the preservation age from age 55 to 60, to help Australians grow larger super balances so they can retire with more money.

HOW WE CAN HELP: OUR PRODUCTS

Some people retire the minute they can. Others keep working into their late 60s and 70s. Some go for the best of both worlds and set up transition-to-retirement strategies that allow them to keep working and drawing on their super at the same time.

Whichever camp you fall into, your savings need to go the distance, and Active Super is here to help with accounts to support your stage of retirement.

We have three types of products to help you build towards your retirement and/or provide income during your retirement, briefly outlined below. Consider the PDS, TMD and your personal circumstances before you decide what’s right for you.

When some people retire, they like to withdraw all their super and put it in the bank. As an alternative, however, an Active Super Account-Based Pension offers more potential for growth, with zero tax on earnings. You get to choose the payment schedule and you can vary the amount from year to year (within limits). Plus, you can withdraw your money at any time if you meet one of the conditions of release. Learn more here.

(NOTE: If you’ve reached retirement age but you’re still working, an Account-Based Pension can also be used as part of a transition to retirement strategy. However, different drawdown limits, preservation ages and tax rules apply. We recommend you talk to a Financial Planner if you’re planning a transition to retirement strategy.)

Choose from a range of investment options, from high to low risk, to help grow your money.
You set up regular payment amounts on a schedule that suits you.
Pay zero tax on these regular payments, on lump sum withdrawals or investment returns.
Access your money and withdraw it at any time.

If you want to keep working later in life, you’ll need an Accumulation Account so you can keep adding to your super. At the same time, you may also be drawing ‘retirement’ income from an Active Super Account-Based Pension (see below). Learn more here.

Allows you and/or your employer to continue to contribute to a regular super account.
The longer you contribute to your super, the lower the risk you’ll run out of money in retirement.
Offers a choice of investment options ranging from high to low risk, to help grow your super.

Our Guaranteed Income accounts provide regular, tax-free income in exchange for an initial upfront investment. They offer less potential for growth than our Account-Based Pension, but more protection from market volatility and inflation. To purchase a Guaranteed Income account, you will need to get personal advice from a financial planner. Learn more here.

Income is agreed and fixed up front based on an initial capital investment.
Payments are tax-free, and not affected by market movements.
Money can be invested for a fixed term (from 1-40 years) or for the rest of your life (or the lifetime of you and one other person).

HOW WE CAN HELP: SERVICE, ADVICE AND SUPPORT

Member education services

When it comes to retirement, knowledge is power. Active Super offers a range of educational tools and services to help you make sound decisions about your retirement savings so you feel more in control. Stay informed with fact sheets, articles, pre-retirement seminars, in-retirement seminars and more.

Active Super website

This website provides information and practical tools and resources to help you plan and manage your retirement objectives. Learn about our different retirement accounts, the Government Age Pension, updates on legislation changes affecting retirees, and read Blogs on planning for retirement.

Online calculators and tools

Active Super has online calculators available to help you plan for retirement. Visit our website and see how different variables can make a difference to the money you could have in retirement.

Financial Advice

If you only need general advice that does not take your personal circumstances into account, you can contact our friendly Member Care team.

To see if you’re on track for retirement, consider doing a Retirement Health Check with one of our financial planners.

For advice that’s tailored to your personal circumstances, you’ll need to talk to a financial planner. Choose from phone, online or face to face meetings – whichever suits you best.