FAQs
The following Frequently Asked Questions are designed to provide the answers you need. If you have a question that is not included in our FAQ section, just call AustralianSuper weekdays 8.30am-5.30pm (EST).
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Top 10 FAQs
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No. An AustralianSuper Pension can only be set up in a single name. However, pension payments can be made to a nominated bank account that is held in joint names.
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Yes. Members can change their investment strategy as often as weekly if they wish and there is no charge to do so. If a switch is made from Monday to Friday (or midnight on Sunday if submitted online), it will be processed on the following Wednesday.
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The ASX 200 Shares Investment Option is not immediately available to AustralianSuper Pension members. When this option becomes available, subject to eligibility, it will allow members to invest some of their retirement savings in one or a combination of the largest 200 companies (by market capitalisation) listed on the Australian Stock Exchange
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Yes. AustralianSuper allows members to make lump sum withdrawals from their pension account at any time. However, some restrictions apply to people taking up a pension using the Transition to Retirement option...
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A $35 fee will apply for every lump sum withdrawal. There is no fee payable on regular pension payments.
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Your client’s pension payments and fees come out of the money they have invested in the AustralianSuper Pension...
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They are essentially the same, however some different rules apply to Transition to Retirement ...
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Nil. There is no cost to change investment strategy and switch between investment options.
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An AustralianSuper Pension can be opened if your client has $10,000 or more in super to invest and has met the eligibility requirements. They do not have to have an existing super account with AustralianSuper to take up an AustralianSuper Pension and the money can come from more than one place.
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