Making the most of your retirement savings

Retiring from employment is undoubtedly one of the most significant decisions you can make.  From that point on, you will be relying on the financial support of your accumulated assets.

Invariably for most retirees superannuation will form the main source of income.

The government, through the progressive introduction of superannuation legislation, has increased the attractiveness of pensions funded from superannuation.

There are two pensions typically used by retirees looking to maximise their returns from superannuation. Both pensions have different features and offer separate advantages:

1. Account Based pensions – provide flexible income and, for most retirees, the ability to withdraw lump sums should the need arise; and
2. Transition to Retirement pensions – provides taxpayers age 55 and over the opportunity to access their superannuation benefits as a pension, even if they continue to work.

For more information about the most suitable options for you as you approach your retirement or to discuss your existing retirement arrangements, please speak to an adviser who can arrange an appointment with one of our in-house superannuation specialists.