Which pension is right for me?
If you're ready to retire or semi-retire, a Club Plus Pension can provide you with income from your super account. A pension is tax effective and we offer two types of Pensions:
- Retirement pension (account based)
This option is also known as an allocated or account-based pension and is generally available to those who were age 57 or over by 30 June 2019 and have retired from the workforce. It provides a tax-advantaged income for those aged 57 to 59 years and a tax-free income for those aged 60 years and over.
- Transition to Retirement pension
This option can be beneficial if you are still working and either you want to maximise your retirement savings, or want to reduce your work hours without it having a great impact on your income and potentially maintain your take-home pay!