REI Super Pension
When you decide its time to retire (either fully or by reducing your hours), you don't need to leave REI Super.
You can remain a member and draw down your super via lump sum withdrawal whilst your monies remain invested in your chosen invesmtent option.
Or you can open a REI Super Pension which allows you to draw on your monies via regular payments. One benefit of doing this is that all investment earnings are tax free for pensions, whereas they are taxed for super accounts.
REI Super offers two kinds of pensions to Members:
Transition to Retirement
REI Super will handle the administration and end of year reporting – you simply need to indicate your drawdown requirements (within the specified thresholds).
The minimum drawdown percentages are shown below. To calculate your annual minimum pension payment, multiply the % factor relating to your age by your pension account balance as at 1 July.
Age at start of pension
We generally recommend you have a balance of $50,000 when establishing a pension product. If you balance is under this amount you may consider increasing it by consolidating other super funds you may have, or adding voluntary contributions.
For more information on REI Super Pension, please contact the REI Super Helpline on 1300 13 44 33 or download the REI Super Pension Product Disclosure Statement or order a copy by sending us your details by email.
To read more about how Transition to Retirement works click here.
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