ADDING $'000S TO YOUR RETIREMENT FUNDS

 

For members aged 55 years or more and still working there is a little practiced way of adding thousands to your retirement funds. Whilst many members participate in salary sacrifice arrangements, this strategy is turbo-charged when used in conjunction with a transition to retirement pension whilst you are still working. And it really is the combination of the two components that can make the difference.

Salary sacrifice and TTR

 

The first part of the saving comes from converting your superannuation balance into a pension account.
 
 
The second part of the saving comes from a 15% tax offset available on the income paid from a pension account to those aged between 55 years and 60 years and still working.
 
The third part of the saving comes from your ability to now salary sacrifice a larger amount into your super account, using the pension income to maintain your total income.
 
For further details about how this strategy may be applicable to you simply refer to the Pension and Transition to Retirement brochure. Alternatively, just call the Club Plus Pension Services Hotline on 1800 204 194.