about Health Super Pensions

Health Super offers 2 types of Pension products that may suit your needs – an Account Based Pension and a Transition to Retirement Pension.

 

are you permanently retired? – read about our Account Based Pension product

An Account Based Pension is a flexible way of providing income in your retirement. You can choose the amount of income you receive each year (subject to a minimum amount), vary your payments within these limits to suit your lifestyle and make additional withdrawals of lump sums at any time.

Your Account Based Pension will continue to be paid until the money in your account runs out. The length of time that your pension will last will depend on many factors, including the amount of income you choose to have paid to you, the investment option you choose (and its performance) and fees and costs.

 

features of a Health Super Account Based Pension

• choice of nine investment options
• tax-effective - part of each pension payment may be tax free and the rest may qualify for a 15% tax offset
• choice of frequency of payment
• flexibility of pension payment amounts (subject to the prescribed minimum)
• access to your money at any time

are you eligible?

would you like to apply?

important: from 1 July 2007 the changes to superannuation impacted the treatment of Pension products. Please refer to our Budget fact sheet, or go to Health Super’s Pension Product Disclosure Statement.

 

over 55 and still working? – read about our Transition to Retirement product

A Transition to Retirement Pension (TTR Pension) is a retirement income product that allows a person who has reached their preservation age to access their superannuation without having to retire permanently from the workforce. This means that you can continue to work and use part (or all) of your superannuation to supplement your income.

With a Health Super TTR Pension, you can choose the amount of income you receive (between minimum and maximum limits) each year and vary your payments within these limits to suit your lifestyle.

However, you cannot have access to your money as a lump sum at any time, (in contrast to an Account Based Pension) or make additional withdrawals from a TTR Pension, other than in very limited circumstances.

 

features of a Health Super Transition to Retirement Pension

• choice of nine investment options
• tax-effective – part of each pension payment may be tax free and the rest may get a 15% tax offset
• choice of frequency of payment
• flexibility of pension payment amounts (between minimum and maximum limits)

are you eligible?

would you like to apply?

important: from 1 July 2007 the changes to superannuation impacted the treatment of Pension products. Please refer to our Product Disclosure Statement, or go to www.simplersuper.treasury.gov.au

 

 

are you eligible for a Health Super Account Based Pension?
Investments into an Account Based Pension account may only include unrestricted non-preserved amounts (including rollovers and transfers from other superannuation and funds). Find out more about preservation.

For information about the preservation rules, see the Health Super Product Disclosure Statement for accumulation members.

Currently, you can only invest in the Health Super Account Based Pension if you are or become a member of the Health Super Fund.

 

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are you eligible for a Health Super Transition to Retirement Pension?

Investments in a Health Super Transition to Retirement Pension may include preserved, restricted non-preserved and unrestricted non-preserved amounts (including from rollovers and transfers from other superannuation funds).

For information about the preservation rules, see the Health Super Product Disclosure Statement for accumulation members.

Currently, you can only invest in the Health Super Transition to Retirement Pension if you are or become a member of the Health Super Fund.

 

 

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