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Retirement

Approaching retirement is an exciting time to decide what matters the most to you and how you want to spend your time. We’re here to help ensure you have the money you need for your ideal lifestyle when you retire.

How much super do you need?

How much you'll need to fund your retirement will depend on your retirement expenses and the sort of lifestyle you'd like to enjoy. Once you've decided on the types of things you’d like to do, the retirement forecaster can help you work out how long your savings need to last.  

Preparing for retirement

It’s never too late to get your retirement on track. Here's some things to think about before you stop working.

  1. Combine your super

    Having more than one super account normally means paying more than one set of fees. Rolling your super into one fund could save you lots.

  2. Get tax advice

    You could take advantage of superannuation tax benefits, like taking an income tax-free from your super while contributing to your super balance at the same time. Our financial advisers can help if you want to learn more. Just call 13 11 84.

  3. Look at how your super is invested

    Up to 60% of your total investment earnings can actually be earned while you’re in retirement*. Think about how you can invest this money, rather than withdrawing it all in cash. Check out the Income account investment choices.

    *Source: Russell Investments: The 10/30/60 Rule. January, 2015

  4. Discuss refinancing your home

    If you have a mortgage on your home, it’s a good idea to speak to someone about your options before you retire. You may want to reduce your mortgage payments and invest more into your retirement fund. Discuss your personal situation with our financial advisers.

  5. Review your health cover

    Approaching retirement is a good time to review your health insurance and ensure you have the cover you need, make the most of tax benefits and have peace of mind.

  6. Join the SunTracker program

    We offer members access to our SunTracker program  at no additional cost, which connects you to a Sunsuper financial adviser. Together, you’ll look at where you want to go, where you’re headed, whether you’re on track and look at what you can do to get there.

Start working less

Just because you’re working less, doesn’t mean you should have less money. You can supplement your income from your super with a Transition to retirement income account.

Income from work plus Income from Super equals Total Income

Retire with Sunsuper

Did you know up to 60% of your retirement income could be generated after the day you stop working – through earnings on your super? Make sure compound interest keeps working hard for you in retirement by accessing your super through a super pension like a Sunsuper Retirement income account. 

Only around 10% of the money you may draw from your super in retirement will come from contributions you make to your super while you’re working. Around 30% can come from the interest earned on your savings while you’re still working. But here’s the surprise – the majority, up to 60% of it, can come from interest earned in the years after you retire. The 10/30/60 Rule. January, 2015.

Sunsuper Income accounts

Our Transition to retirement income account has been designed for members who are still working, but nearing retirement and want to receive regular payments from their super to supplement their income. Our Retirement income account is generally for members who have reached their preservation age and retired, or are over age 65, and want to receive regular payments from their super.

Investments

Choosing how your super is invested and keeping a close eye on its performance will give you greater control of your financial future.

Income account fees

Our profit-for-members philosophy means our members benefit through lower fees and improved services—dividends for shareholders and commissions to planners don’t get in the way of your dreams.

What others like you are doing

Explore the ways our members are retiring on their own terms.

Activate your account

Once you're eligible, it’s quick and easy to get your Income account up and running.

Or, give us a call and we'll walk you through it.

Activate income account

Get advice on retirement options

Call 13 11 84

Expert advice included in your membership fees

We can provide you with the help and advice you need to set yourself up for retirement. Our qualified financial advisers can answer most of your super questions over the phone.