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Allocated pension
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An allocated pension plan (APP) is a product used for funding your retirement and is managed so that you can enjoy your retirement lifestyle without the need to be concerned about ongoing management issues. ACSRF's APP is provided in the spirit of how the superannuation fund is managed, low-cost and not-for-profit, no commissions and no dividends paid to shareholders.
Moneys accumulated in other superannuation and rollover funds can be transferred into ACSRF's APP. Tax-free investment earnings are allocated to the account from which regular pension payments are made. For members over age 60, all income received from an APP is totally tax-free!
What are the key features of ACSRF’s Allocated Pension Plan?
- Your money is invested with a number of investment managers (dependent upon your choice of investment option(s)).
- Your administration costs are a fixed annual amount. The administration fee is not based on a percentage of your account balance. However, other management costs are deducted from the fund assets as a whole before the unit price is determined and are therefore reflected in the unit price.
- No entry fee is charged.
- There are no penalties imposed by the Fund for early withdrawal of your account balance, other than a withdrawal processing fee of $35.
- You receive half yearly and annual reports, benefit statements and regular newsletters.
- Your benefit stays within the Fund that has managed your account while you were working, so you do not need to transfer out of ACSRF.
- Your investment choice can comprise one or a combination of any of the investment options available.
- If you are between the ages of 55–64 and have not retired from the workforce, you can access your superannuation through a non-commutable allocated pension.
- If you are over 60 years of age, your income will be tax-free.
Allocated Pension Plan Product Disclosure Statement.
