Transition to retirement

Members aged 55–64 and who have not retired from the workforce can access their super through a non-commutable income stream or allocated pension whilst still working.

ACSRF’s non-commutable allocated pension has all the same features of its Allocated Pension Plan except that a maximum annual pension payment of 10% of the account balance applies and lump-sum withdrawals (commutations) can only be made in the following circumstances:

• To pay for a surcharge assessment
• For a family law payment split
• To cash in any unrestricted non-preserved amount
• If you have reached preservation age (55-60) and ACSRF is satisfied that you have retired from gainful employment
• Upon termination of any employment arrangement after 60
• Upon reaching age 65
• Upon becoming permanently incapacitated
• Upon death
• Upon satisfaction of another condition of release.

Upon reaching age 65, your non-commutable allocated pension will automatically become commutable, which means that you will be able to make lump sum withdrawals from your allocated pension.

For more information regarding this product, please refer to ACSRF’s Allocated Pension Plan Product Disclosure Statement.