Pre-retirement pension

If you’re between preservation age and age 65 with at least $15,000 to invest, you can transition to retirement by reducing your working hours with your employer’s agreement (or continuing working full time if you wish) and supplementing your income with regular pension payments.

Benefits of a pre-retirement pension

  • Flexible: receive a regular income.
  • Tax benefits: tax-free payments if you’re over age 60. If you’re between preservation age and age 59 a 15% tax offset reduces the tax on your payments. 
  • Great value: pay only $180 pa for your pension, irrespective of your account balance, with no entry, exit, investment switch or withdrawal fees.