Retirement booklet

Our Preparing for Retirement booklet covers just about every aspect of retirement, from planning for retirement, through to your government entitlements once you’ve finished your life in paid employment, and everything in between.

 

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Already retired?

If you’ve already retired and started an Income Stream, you might find more resources to help you on the Already Retired Super Hints page.

Accessing your super

Use the Benefit payment form to instruct us how you want to set your super up in retirement.

Get the form

Lifetime transfer balance cap

The Federal Government sets an upper limit on the amount you can move into the retirement phase of your super. Will you be affected?

(1:55 minutes)

Investment choice

Making sure that your retirement savings are in the right investment option for you is so important.

It doesn’t have to be complicated to make the choice that’s right for you.

Watch our quick video now (1:15 minutes) or read more in the article (click the button).

Read more

What is an Income Stream?

Want more information about an Income Stream and how it works?

See our How Super Works In Retirement Super Hints web page.

What happens to your super if you die?

You might be surprised to discover that your super might not be automatically paid to the person you expect if you die.

However, you can nominate who you want to receive your super if you die. That includes who receives your Income Stream. It could give you and your loved ones some piece of mind. If you have an Income Stream, there are 2 choices:

Reversionary Beneficiary

By nominating a reversionary beneficiary, your spouse could continue to receive regular income payments from the Income Stream if you die.

This can save them stress at a difficult time. It also allows them to keep the money in the super system, which can be restricted or even prohibited if they’re over a certain age when they inherit.

If you nominate your spouse, they will still be able to access the account balance as a lump sum if they prefer.

See the form for all the details.

Binding beneficiary nomination

If you don’t have a spouse, or if you don’t wish your regular income payments to revert to your spouse, you can nominate your income stream to be paid as a lump sum to your nominated beneficiary/beneficiaries.

The binding nomination form must be witnessed by 2 witnesses and needs to be updated and replaced every 3 years.

See the form for more details of who could be a valid beneficiary.

See your super

Use our calculator to see how your super will last through your retirement. You can adjust variables, like your annual income in retirement, or your age at retirement to see what difference this could make for you.

Use the calculator

Who are you?

When you access your super, you will need to provide proof of your identity. Read more about the requirements on our web page.

Recontribution

You may be planning to recontribute some of your super as part of a tax strategy. Find out more recontribution in our quick videos.

Forms and page links

Here are some of the forms and other resources that might be useful when looking to access your super

Want to access our other forms, pages and calculators? See the Resources/Forms page.

Benefit payment form

To access some or all of your super, use the Benefit Payment form

Division 3 Defined Benefit Pension

If you are a member of the defined benefit Pension Scheme, use this form to instruct us what you want to do with your lifetime pension.

Nominate a reversionary beneficiary

If you have an Income Stream, you can nominate your spouse to continue to receive your regular payments after you die.

Rollover - no paperwork

If you’re rolling super from other accounts to incorporate into your Income Stream, make sure you allow enough time for the rollover to be actioned by the other super company.

You can action a rollover easily with no paperwork using your my.Gov.au account.

Rollover - use a form

Don’t have a myGov account and want to roll other super into ElectricSuper? You can use the paper-based form.

You’ll need to allow more time for this request to be actioned.

Notice of intent to claim a tax deduction

If you’re planning to claim a tax deduction for any super contributions, use this form

Contribution splitting

If you’re planning to split contributions to your spouse, use this form

Tax file number declaration

If you need to provide us with your tax file number, use this form.

The quickest way to get the facts about your super is in a one-on-one meeting with our Member Services Team. The meetings are free for our members!

Book your meeting now

These ElectricSuper links may also give you more information:

Retirement is more than money

Nominating a beneficiary

What is an Income Stream?

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