Taking your superannuation pay-out as a lump sum may sound appealing - but there are more practical and tax-effective ways to make your superannuation last much longer.
Starting a retirement income stream can turn your superannuation lump sum into a regular income, while it remains invested in investment markets. This strategy gains favourable treatment for social security purposes, so you could also increase your eligibility for the Age Pension.
Depending on the type of income stream you select, you may also be able to choose how much income you receive each year, and how long you want the income stream to last.
With Asteron, you have a wide choice:
- Wealthstar - flexible retirement solutions giving you the choice of Allocated Pension, Term Allocated Pension, or a combination of both (Note, Term Allocated Pensions will no longer be available from 20 September 2007, due to changes in Federal Government legislation.)
- Optimum Professional Allocated Pension - the sophisticated Allocated Pension with a wide range of investment options including shares.
- Asteron Longevity Income Stream (ALIS) - pays you a lifetime income stream in late retirement - it's the only retirement solution that will last as long as you do!
This is general advice and does not take into account your objectives, financial situation or needs. Before acting on this general advice you should consider the Product Disclosure Statement and the appropriateness of the advice having regard to your situation.
If you need to know more, your adviser is the best person to contact. Your adviser is aware of your circumstances and will be able to give you appropriate advice.
If you do not have an adviser, click here for information on how to find a financial adviser.
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