Pensions

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When yo­u retire, you can either take your super as a lump sum or convert it into a pension to provide an ongoing income.

Think ­of­ a pension account as 'super in reverse'. During your working life, your super account balance is invested and regular e­mployer contributions­ and optional payments made by you go ­into it.

When you retire, if you convert it to a pension, your super money can still be invested but you receive regular pension payments from your account to provide you with an ongoing income. It is a flexible, tax effective way to control your income and investment options in retirement, or while making a gradual transition to retirement.

A pension can offer you considerable tax advantages - you could defer lump sum tax if you're under 60, remove tax on investment earnings and give you a rebate on annual pension payments.

While receiving your retirement savings as a pension you may still be eligible to receive the government's age pension and other social security benefits.

We offer TWO types of pension accounts:

1. Catholic Super Pension READ MORE

  • Once you retire, you can convert your super into a regular tax effective income,
  • ­You can also change the frequency of your payments and
  • Make lump sum withdrawals at any time

2. Catholic Super Pre-Retirement Pension READ MORE

TURN TAX INTO SUPER
less tax - more super - same income

If you are still working and over 55, you can think about a Transition to Retirement strategy. You could access your superannuation money in the form of a Catholic Super Pre-Retirement Pension - the benefits are outstanding and seriously worth considering!

  • Ideal for those who move to part time work before they retire or those who continue to work full time after the age of 55
  • You can use a Catholic Super Pre-Retirement Pension to supplement your reduced salary or to fund lifestyle choices if working full time
  • Catholic Super Pre-Retirement Pensions can be a tax effective way to maximise savings for your retirement
  • This type of pension account works in the same way as a Catholic Super Pension except there are some yearly income and lump sum access restrictions   


Whichever type of account you choose can have a significant impact on such things as taxation and your entitlement to an age pension. It's a good idea to get professional financial advice before deciding which type of pension account is best for you.

 

We have a range of retirement calculators that could assist you:


Contact us - Pension Services Centre

We have a dedicated Pension Service Centre to help answer your questions or to arrange to schedule a time to come and speak to one of our financial planners.

Call 1300 730 327 to speak to one of our Pension Service Consultants.

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