Stay with us when you retire and start a TelstraSuper RetireAccess Retirement income stream and you could be eligible to receive a Retirement Bonus of up to $8,000.
When you start a Retirement income stream the tax paid by TelstraSuper is reduced. The Retirement Bonus is funded from this tax saving and if you meet the eligibility requirements, will be returned to you as a bonus payment.
You’re eligible for the Retirement Bonus if you:
You don’t have to apply for the Retirement Bonus, as it will be paid into your account on the date your income stream commences.
Everyone’s bonus will vary. The bonus is based on how your money was invested before it was transferred to your Retirement income stream. It’s calculated at 0.5% of the balance invested in eligible investments, up to a maximum of $8,000. The more money you transfer to a Retirement income stream the more bonus you could receive.
It’s important to note that funds invested in the Cash or Fixed Interest investment options will not be eligible for the bonus due to their tax structure.
The table below shows some examples:
Retirement income stream balance in eligible investment options | Potential Retirement Bonus |
---|---|
$200,000 | $1,000 |
$500,000 | $2,500 |
$800,000 | $4,000 |
$1,000,000 | $5,000 |
$1,600,000 | $8,000 (maximum bonus) |
TelstraSuper Financial Planning can help you work out the best ways to manage 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.
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