Our low-fee Retirement Pension is about to get even better
We’re making some changes that could benefit you from 1 April 2021.*
Eligible members who open a new Retirement Pension account from 1 April 2021* could receive an additional Pension Bonus!
If you’re recently retired or thinking about retiring soon, our low-fee Retirement Pension account could be a great option for you. A retirement pension turns your super into a regular income while the balance stays invested.
You can start a retirement pension if you’ve reached your preservation age and permanently retired, or if you’re aged 65 or older.
You could receive a Pension Bonus
If you transfer an existing LUCRF Super TTR Pension or super account to a new Retirement Pension account, you may be eligible to receive a bonus amount automatically credited to your opening balance.
Where does the Pension Bonus come from?
When you have a TTR Pension or super account with us, we set aside funds that would normally be paid to the government as tax. These funds are usually used to pay taxes for future capital gains that arise when investment assets are sold.
When you transfer your TTR Pension or super account to a Retirement Pension account with us, your money moves to a tax-free environment. The funds we previously set aside for tax from your TTR Pension or super account can then be credited to the opening balance of your new account as a Pension Bonus back to you (subject to eligibility).
What do you need to do?
You don’t need to apply. If you’re eligible to receive it, the Pension Bonus will automatically be applied as a credit to the opening balance of your new Retirement Pension account.
* The launch date may be subject to change. In the event the intended launch date of 1 April 2021 is delayed for any reason, we will implement the changes as soon as possible after this date. We will notify members of any date change by updating this page.
This notice explains the changes that will be made to our Retirement Pension account and will be described in the updated Pension Member Guide (Product Disclosure Statement) available from 1 April 2021* here.
If you're unhappy about this change you can lodge a complaint here.
Do you need some help understanding your options?
Speak to one of our experienced financial advisers at no extra cost.Request a callback