AustSafe Super Pension

AustSafe Super Pensions are specifically for members who have permanently or partially retired and are looking for a regular, tax-effective income. You must be either permanently retired or have reached your preservation age to be eligible to open an AustSafe Super Pension. AustSafe Super offers two Pensions, find out which one is right for you.

What is the difference between the Account Based and Transition to Retirement Pension?
How do I join?
Low Fees
Additional Benefits
Financial Planning
Forms and Publications

If you have any questions about joining AustSafe Super Pensions, call our specialist Pension Team at the Customer Service Centre on 1800 701 145, they won't bite.

What is the difference between the Account Based and Transition to Retirement Pension?

 

Account Based Pension

This Pension allows you to invest all or part of you superannuation savings in order to provide a regular tax-effective income in retirement. You need a minimum of $25,000 to open an AustSafe Super Account Based Pension. This pension is top dog because you can:

  • Control the income you receive (subject to a minimum amount) to suit your needs
  • Make lump sum withdrawals from time to time
  • Receive tax benefits through concessionally taxed income and tax free investments
  • Manage your investment through 9 investment options

Transition to Retirement Pension

This Pension enables you to supplement your income, giving you flexibility to reduce your working hours while maintaining your standard of living. The AustSafe Super Transition to Retirement Pension is designed for you to use your superannuation savings to start an income stream to supplement the income from your current employment. You do need a minimum of $25,000 to start this account. This product gives you the freedom to:

  • Control the income you receive (subject to a minimum amount) to suit your needs and your frequency of payments, either monthly, quarterly, half-yearly or yearly
  • Receive tax benefits, through concessionally taxed income and tax free investments
  • Manage your investment through 9 investment options

 

How do I join?


Becoming an AustSafe Super Personal Member is easy, all you need to do is:

  1. Download the AustSafe Super Pension Member Guide (PDS) which has all the information you need about becoming a member, plus all the forms you need to complete. There is a checklist at the back of the Guide to help you out.
  2. Complete a Pension Membership Application Form and post it back to the address on the form. Don't forget to tick which Pension you are eligible for.
  3. When you join, you have the option to make your own Investment Choice. If you don't make a selection on your application, you will be invested in the Balanced option which is the Fund's default option.
  4. You also need to select the level of your payments and the frequency of those payments.

If you are looking for some advice before choosing an AustSafe Super Pension, contact a Personal Money Coach through the Customer Service Center on 1300 131 293.

 

Low Fees

As an Industry Super Fund, AustSafe Super charges low fees^. It is important that you compare fees when selecting the right Pension. Small differences in fees and costs can have a substantial impact on your long term returns.

 

Fees when your money moves in and out of the Fund.
These fees are directly deduced from your account.

Establishment Fee
Contribution Fee
Withdrawal Fee


Management Costs		 Nil
Nil
$55 Deducted from your account each time a lump sum is paid.
No fee is charged for benefit payments due to death, TPD or permanent incapacity.
0.35% p.a. on first $300,000
0.15% p.a. on next $400,000
Nil balance over $700,000
+
0.10% - 0.96% p.a. of your account balance depending on your
Investment choice (see below Investment Management Fees).

 

Service Fees

Investment Switching Fee

Pension Payment Fee		 One FREE switch per financial year. $20 for each subsequent switch in the same financial year.
$7.50 is charge for each pension payment made by cheque. No fee is charged for payments made by EFT.

 

Incidential Fees

Location Fee
Family Law Enquiry Fee
Family Law Splitting Fee		 $40 if your address is incorrect and the Trustee needs to request an Agency to locate you.
$110 to process requests for information about your spouse.
$100 charged for splitting an account under the Family Law Act

 

Investment Management Fees

These fees are not paid directly from you account, but are deducted from investment options before returns are declared and allocated to your account. These fees can differ from year to year and those shown below are based on information from 30 June 2008.

Pooled Investment Options

Balanced
Capital Stable
Super Growth		 0.85%
0.64%
0.86%

 

Asset Class Investment Options

Australian Equities
International Equities
Property
Fixed Interest
Cash
Bank Cash		 0.79%
0.96%
0.75%
0.47%
0.10%
0.40%*

 *Estimated Investment Management Fee.  This option commenced on 1 January 2009.


For more detailed information on fees, read over the AustSafe Super Pension Member Guide (PDS).
^Based on independent research from SuperRatings Pty Ltd. Fees may vary in the future.

 

Additional Benefits


AustSafe Super is more than Super, we're best of breed.


For 20 years, we've been providing more than 160,000 rural and regional Australians with financial security through competitive superannuation. As you member you'll receive the following benefits:

*Past performance is not an indicator of future performance.
^Based on independent research from SuperRatings Pty Ltd. Fees may vary in the future.

 

Financial Planning


At AustSafe Super, we believe that good information and an understanding of what you can do with your money is the key to making sound investment decisions. We believe all members, regardless of age, income or account balance, should have access to financial advice services to help you feel comfortable making decisions about your financial future.

As a member of AustSafe Super you can access personal advice to assist you plan for your retirement, including advice on investment choice, taxation and saving on fees through the Personal Money Coaches at Money Solutions*.

Call 1300 131 293 and ask to talk to a Personal Money Coach.

 

Forms and Publications


AustSafe Super Pension Member Guide (PDS)
AustSafe Super Pension Transfer Form
AustSafe Super Pension Binding Death Benefit Nomination Form
AustSafe Super Pension Tax Declaration Form