Retire with a steady income.
Secure a regular income in your retirement with a Hostplus pension account. A retirement income account, also known as a pension, will ensure your superannuation continues to work hard so you can sit back and watch your nest egg flourish.
You've worked hard to grow your superannuation over the years. So when it’s time to put your feet up and relax, you want to make sure your money keeps working for you. As long as you have a sufficient balance your Hostplus pension account will continue to make regular payments into your bank account so you can focus on enjoying your retirement.
Investing in a Hostplus Pension account
You can start planning and investing in your pension account before you finish working. To open an account you will need to have reached your ‘preservation age’. If you are still working, you could use a Transition to Retirement (TTR) to start your retirement plan. You will also need a minimum $10,000 to open your account.
Plan for your pension to go the distance
Your retirement is not the time for money worries. That’s why we can arrange for your funds to be paid straight into your bank account. You can even choose the amount and the frequency of these payments. If you’re worried about spending too much or too quickly, our guide to how much you might need to retire could help.
Planning with the experts
Our financial planners are experts in ensuring all of your needs and requirements are considered when advising on your retirement budget. They can help guide your investment choices, your spending habits and even budgeting goals.
Passing your money on to your loved ones
Whatever money you have invested in your Hostplus Pension account can be paid to a beneficiary upon your death. You can choose to have the money paid as a lump sum or as a continuing income. Read more about estate planning to ensure your money is dealt with according to your wishes.
Budgeting for retirement
The Australian Government has set minimum guidelines around how much you can withdraw per annum. You can read more about the guidelines here. There’s no maximum withdrawal limit for pension accounts, but it’s a good idea to plan ahead for how much you’ll need each month.
Want to learn more? Give our financial planners a call. They’re on hand to help you with all your retirement questions.
New deeming rules
Any pension opened before January 1, 2015, will not be subject to the new deeming rules. However, if a member moves their balance to a new pension or their income support payment ceases from January 1, 2015, they may be subject to these rules. Learn more about deeming rules here or speak to one of our financial planners.
The Government Age Pension and your Hostplus Pension account
If you’re intending on claiming a Government Age Pension as well as setting up a Hostplus Pension account, chat to one of our financial planners about your goals.
The Government Age Pension is dependent on a number of elements such as your income and assets. These are assessed each year and/or when there is a change in your circumstances. Give us a call or contact Centrelink.
First steps to securing your retirement income
To open a pension account, you’ll need at least $10,000 currently invested in either your Hostplus super account or with another complying super fund.
To transfer your super to Hostplus, simply call us on 1300 348 546, Monday to Friday, 8am – 8pm AEST. We can guide you through the process of opening your Hostplus Pension account today.
