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When the weekend (aka retirement) comes, you can activate a smartMonday PENSION and start receiving a tax-free income for you to spend on…whatever floats your boat basically. Or, if you’re not quite ready to stop working you can start a smartMonday Transition to Retirement PENSION (TRP)!

PENSION Product Disclosure Statement

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Investment: You have multiple investment options - including pre-mixed options - to make it super simple

Tax1: Transition to Retirement pension investment earnings are taxed at the concessional superannuation rate of up to 15%. If you’re fully retired, your pension investment earnings are generally tax free.

Getting paid2You decide the amount of income you want to receive and how often – monthly, quarterly, half-yearly or annually.

Withdrawing: You can withdraw some or all of your smartMonday PENSION account balance at any time.

Tracking: Easily track your progress and full account details on your Personal Home Page.

With smartMonday PENSION you can receive regular income payments (with no maximum annual payment limit) in retirement while your super stays invested in a tax-free environment1 (up to the limits set by the Government), giving you the potential for greater investment returns throughout your retirement.

If you like the thought of retiring but aren’t ready to stop work just yet, a transition to retirement pension (TRP) might be the solution. Your income payments must total between 4% and 10% of your total account balance each year – these limits set by the Government.2

Is this the right option for you? Ask your financial adviser; or if you don’t have one, talk to a smartCoach today on 1300 262 241, or email smartcoach@smartmonday.com.au.

Wouldn’t it be better to pay off the mortgage first instead of converting your super savings to a pension? It’s a frequently asked question. While our smartCoaches can’t provide advice on products outside of super they can help to ensure you have the facts you need about your super to make the right decision for you.
For example, if the investment returns from your smartMonday PENSION are higher than the interest on your mortgage then paying off the mortgage might not be the best option.