There are essentially three ways to to receive a regular income using a product such as TelstraSuper RetireAccess. The option that best suits you will depend on your personal circumstances and financial situation. You can:
Stop working altogether
Invest in a retirement income stream and pay yourself a regular income from this product.
Reduce your working hours
‘Semi-retire’ and use a transition to retirement income stream (TTR) to maintain your income.
Keep working full time
Use a TTR strategy to boost your super and maintain your income.
Benefits of a retirement income stream
- investment earnings are tax free
- withdrawals are tax free after age 60
- super lasts longer by keeping it invested in tax effective environment
- flexibility to choose how much income you want to be paid and how often (some conditions apply)
- nominate who gets what's left in your account when you die
- access your money to make lump sum withdrawals anytime you need extra cash (retirement income stream only)
- maximise your potential tax savings using a transition to retirement; and
- you may still be eligible to receive the Age Pension.
TelstraSuper RetireAccess features
RetireAccess can pay you an income after you reach your preservation age while you're still working or after you retire permanently. RetireAccess is a competitive product that has been nominated for several awards by SuperRatings. Some of the features are:
- competitive fees
- solid investment performance*
- unlimited death insurance cover until age 75†
- access to TelstraSuper Financial Planning
- flexibility to choose who gets the remainder of your balance when you die
- a range of investment options to invest your money.
* Past performance is not a reliable indicator of future performance. Future performance is not guaranteed.
† Subject to insurer approval.
Easy to set up
It's easy to open a RetireAccess account. You can either let us help you or do it yourself.
Let us help you
The easiest way to set up a RetireAccess account is to contact us on 1300 033 166. If you need retirement planning advice you can contact TelstraSuper Financial Planning to help you work out the best strategy for your circumstances.
Need help with your income options from super?
At TelstraSuper we’re here to help you build a secure financial future. TelstraSuper Financial Planning that has a team of phone based Advisers who can provide you with simple advice to help you work out the best ways to maximise your super in retirement. If you’d like to discuss your retirement plans or if you have any other financial advice queries contact us on 1300 033 166 or fill in our online contact form. There's no additional charge for our phone based service as this is included in your TelstraSuper membership.Request a call