|
| |
What is a retirement income stream?
Retirement income streams are investments designed to give people regular income in retirement. They provide retirees with familiar 'take home pay' payments which, for some people, help with the task of managing, budgeting and spending income. They can also be very tax-effective.
You can choose from:
- Allocated pensions, and
- Non-commutable allocated pensions
The basic principle is the same for each product—investing to obtain a regular income in retirement. However, selecting the product that is just right for you can involve detailed planning, so it is best to talk over your options with a financial adviser.
Features of our retirement income stream products
- You can begin receiving regular payments from a retirement income product generally if you are retiring after age 55 or are over age 65, unless you have a non-commutable allocated pension (See What is a non-commutable allocated pension?)
- If you are aged between 55 and 59 (inclusive), tax concessions and offsets are available
- If you are aged 60 or more, income payments and lump sum withdrawals (where permitted) are tax-free
- Your investment may receive favourable Centrelink treatment.
| |
|
