It's time for - The Police Association Victoria

fINANCE
Thinking of resigning
or retiring?
If you are planning on resigning or retiring,
it’s important to understand all your
superannuation options. As the fund
responsible for your ESSS Defined Benefit
Fund and the Accumulation Plan, ESSSuper
offers a range of products to help keep your
retirement savings on track when changing
careers or entering retirement. Keeping your
benefit in the superannuation environment
can help you keep boosting your super
savings and may even provide you with
tax benefits.
ESSSuper’s products are designed with you
in mind by:
> > keeping fees as low as possible; the lower
the fees the more there is for you
> > offering assistance and guidance along
the way: ESSSuper’s Member Education
Consultants are ready to help
> > providing a range of investment and
insurance options: designed to help you
to achieve a comfortable retirement.
The following is an overview of some
of your options.
Transfer to the Beneficiary Account
When you leave the Force you may choose
to rollover your benefit to ESSSuper’s
Beneficiary Account. * Under this option you
can also rollover additional money from
other super funds. ** The Beneficiary Account
may be a good option if you want to receive
your Optional Benefit, as it provides an
‘untaxed option’ which allows you to defer
paying tax on part of your benefit. (Note:
the Beneficiary Account does not accept
additional contributions or offer death and
disability insurance.)
Transfer to your
Accumulation Plan account
If you are in the ESSS DB Fund you will
also have an Accumulation Plan account
with ESSSuper. So when you resign, you
are able to transfer the proceeds of your
defined benefit to your Accumulation
Plan account. You can then use the
account to make regular after tax
or salary sacrifice contributions and
arrange for Superannuation Guarantee
contributions from other employers
to be made to your Accumulation Plan
account. You get to choose from a range
of investment and insurance options and
you can make either a binding or nonbinding
death benefit nomination for
your account.
Receive a regular income through
an Income Stream
If you want to start slowing down, but you’re
not yet ready for complete retirement,
ESSSuper can help you make the move.
So, if you’re thinking of resigning or
retiring from your job, the Working Income
Stream can help you ease into retirement
by providing you with additional income
if you decide to work part-time.
And when you decide to permanently
retire you can rollover your lump sum into
a Retirement Income Stream to provide a
regular income or supplement a pension.
Additional features
ESSSuper’s Beneficiary Account,
Accumulation Plan and Income Stream’s
offer a choice of investment options and
the ability to change your investment choice
monthly at no extra cost. This means you
have the flexibility to change how your
money is invested. And via the secure
Members Online area of the ESSSuper
website, you can change your investment
choice online.
Where to from here?
So, what can ESSSuper do to help?
Well, it all depends on what’s right for you.
To find out more:
> > visit the website www.esssuper.com.au
> > call the Member Contact Centre on
1300 650 161 (8.30 am to 5.00 pm
Monday to Friday)
> > attend a seminar (seminar schedule
available on the website)
> > make an appointment to discuss
your super with a Member Education
Consultant. You can talk to an ESSSuper
Member Education Consultant over the
phone, or you can book a free personal
appointment at ESSSuper’s office or
at the convenience of your workplace.
They consult with you one-on-one,
and can help educate you about your
options. ESSSuper’s Member Education
Consultants have a wealth of experience
in superannuation and understand the
essential issues you need to consider
to boost your retirement savings and
in planning for retirement.
So for all your resignation or retirement
superannuation options call ESSSuper’s
Member Contact Centre on 1300 650 161
or visit the website, www.esssuper.com.au.
*
Before making a decision about an ESSSuper
product or service you should consider the
Product Disclosure Statement (PDS), available at
www.esssuper.com.au or by calling ESSSuper’s
Member Contact Centre, and the appropriateness
of the product to your personal objectives,
financial situation and needs. It may also be
beneficial to seek professional advice from a
licensed financial planner or adviser.
**
The fund you are rolling money out of may
charge an exit fee or penalties. Cancellation of
your account may affect any insurance cover or
other benefit you have with that fund.
22 Protect Represent Support. www.tpav.org.au