When you start a VicSuper Flexible Income account (eg you're fully retired), you choose a payment amount of at least the Government minimum payment requirement.
With a VicSuper Flexible Income account with the Transition to Retirement feature (ie when you're transitioning to retirement), you choose a payment amount from the minimum payment requirement, up to maximum amount being 10% of your total account balance at commencement or 1 July each subsequent financial year.
With both options you can choose a payment frequency of:
- twice monthly
- half yearly
with an option to receive payments on the 15th day and/or the last business day of each month.
Refer to the VicSuper Flexible Income PDS to find out what limits apply.
Changing your payment amount or frequency
If you'd like to change the payment amounts or payment frequency you chose when you started your VicSuper Flexible Income, you can do this at any time by:
- logging in to your VicSuper MembersOnline account
- downloading and completing the Change your details VicSuper Flexible Income form and sending it to us
When will the change take effect?
A change to your payment amount and frequency will apply to your next income payment provided we receive notification five working days prior to the day of the month on which your income is paid.
If you have chosen a monthly, quarterly, half yearly or yearly payment you can indicate if you would like to receive your payment on the 15th or last business day of the month and the month you would like your change to take effect.
Don't sit there wondering - our team members are here to help!