Like to receive a tax-effective income from your super savings in retirement? Keep in mind, if super is to be your primary source of retirement income, it's important to ensure your savings can go the distance.
Australians are living longer and better than ever. Retirement is likely to last many of us 25 years or more.
Helping your savings to go further is one advantage of remaining invested in super at retirement. Super is a tax effective investment, and many people receive retirement income from a combination of their super and full or part Centrelink Age Pension.
The right arrangement for you will depend on your overall circumstances, as well as your short and long-term plans. You might like to learn more about options which may be available to you.
To find out more, why not consider requesting a superannuation advice appointment to meet with a qualified superannuation adviser.
Retirement income streams
In order to receive an income from your super savings, VicSuper currently offers two superannuation pensions:
If you are planning to retire, you may like to consider a commutable pension. Commutable pensions are designed for people who have retired and want to leave their money in a super fund so that they can draw a regular income stream rather than withdrawing their money as a lump sum.
If you are making the transition to retirement, you may like to consider a non-commutable pension. These are designed for people who have reached their preservation age and would like to access their super savings in the form of regular pension payments, without retiring from the workforce.
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