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Pensions

‘His work will be shown for what it is, because the Day will bring it to light. It will be revealed with fire…if what he has built survives, he will receive his reward.’ (1 Corinthians 3:13-15 NIV)

As you approach and/or enjoy retirement, you have the option of accessing your superannuation benefit either as a lump sum, a pension, or a combination of both. At Christian Super, we offer two pension products – Christian Super Pension and Christian Super Transition Pension.

The Christian Super Pension

The Christian Super Pension gives retirees aged 60 or more the option to convert a lump sum superannuation amount into a regular income stream. The Christian Super Pension places the money in your account into your selected investment options in order to grow over time. Earnings accrue tax-free and are added to your account, while administration fees are simply deducted. You can elect how much you wish to receive on a monthly basis as a regular pension payment (within legislated limits).

How long your pension lasts depends on:

  • The total amount in your account to start with;
  • Investment earnings and fees;
  • The amount you withdraw each year; and
  • Any lump sum withdrawals you make.

The Christian Super Transition Pension

The Transition Pension is beneficial to those aged 55-59 who wish to reduce their work hours to part time. A government initiative, this pension allows eligible candidates to access their superannuation as an income stream, which then facilitates a full-time income equivalent even while working fewer hours.

On top of facilitating a full-time income equivalent, the Christian Super Transition Pension may also allow you to reduce your taxable income. The Transition Pension will automatically revert to a Christian Super Pension once you have satisfied the preservation requirements. This generally applies when:

  • You leave your employer after reaching the age of 60; or
  • You reach the age of 65.

Also, you are able to transfer your pension account back into a normal superannuation account at any time.

Competitive Fees

While giving you the opportunity to stay with Christian Super as you transition into retirement, our pension products also offer competitive fees, so even if you are not already a Christian Super member, you can join now and start looking forward to your retirement.