To be eligible to open a CareSuper Pension account you need to:

• Have retired permanently and reached your preservation age, or
• Be over 55 and starting a transition to retirement strategy.

To get started you need to rollover into your Pension account at least $10,000 of your CareSuper benefit, or any other superannuation benefit you are entitled to as cash.

Please note, once your pension commences you cannot make additional contributions to it. You can, however, open a new Pension account at any time with an additional rollover or lump sum deposit of at least $10,000.

How much can I receive as pension income?

You can choose how much pension you receive each year, subject to a legislated minimum amount. This is calculated by using the balance of your Pension account at a specific date each year divided by a percentage factor based on your age (see the Pension PDS).

Can I make lump sum withdrawals?

Yes, you can. Partial over and above your pension payments or full withdrawals of your balance, can be made at any time. These types of withdrawals may have tax and social security implications.