• RetireChoice pension

  • RetireChoice gives you more control and flexibility over your investment decisions to achieve long-lasting income in retirement

    What is RetireChoice?

    Our RetireChoice account based pension (previously referred to as our allocated pension) is for members who want to have a greater level of control over their investments. RetireChoice provides both an account based pension and a transition to retirement pension.

    When you start a RetireChoice pension, you can:

    • Choose your preferred investment mix from 12 different investment options
    • Select from which investment option/s your regular pension income will be paid and
    • Change your investment mix at any time if your tolerance for investment risk alters in the future.


    It will be up to you whether or not you periodically re-balance your investment mix. For example, to top-up your balance in the investment option/s from which your pension payments are made.

    Effectively managing your RetireChoice pension investments should enable you to generate adequate savings growth and give you a sustainable, long-lasting stream of income during your retirement. However, you should be aware that there's no guarantee your savings and income will last a lifetime. This will depend on a range of factors, including your account starting balance, how investment markets perform, the withdrawals you make and your life expectancy.

  • Supplementing your income in retirement

    Many people will find that their income in retirement will comprise both a pension from their super savings as well as income from the part Age Pension. According to 2014/15 statistics, 75% of all retirees currently receive some level of Centrelink Age Pension income*. 

    Centrelink takes into account your age and residence when determining your eligibility for the Age Pension. In addition to these requirements, two means tests are also applied.

      *Department of Human Services

  • Key features

    Investments

    You can choose the investment mix that best meets your retirement objectives. Different investment mixes will provide different levels of income and capital growth. You can also change your investment mix at any time.

    Pension income

    You can nominate your annual income (as a percentage of your account balance), subject to an age-based minimum, and in the case of a transition to retirement pension, to a 10% maximum. You're also able to choose the option/s from which your income is paid.

    Flexibility

    You'll be able to make lump sum withdrawals at any time, unless you have a transition to retirement pension. The minimum amount for each withdrawal is $5,000.

    Payment frequency

    You can choose to receive weekly, fortnightly, monthly, quarterly, twice-yearly or yearly pension payments.

    Minimum investment

    $25,000

    Maximum investment

    $1.6 million (2017/18 financial year) for account based pensions. Please refer to the Transfer Balance Cap. There is no maximum investment for the transition to retirement pension.

  • How does RetireChoice work?

    • Choose your own investment mix

      We offer you a choice of 12 different investment options, ranging from aggressive to very conservative. You can choose just one of these options or a mixture.

      Options with a mix of asset classes

      Options with single asset classes

      Shares

      Australian Shares

      Growth

      International Shares

      Balanced

      Property

      Socially Responsible Balanced

      Bonds

      Conservative Balanced

      Cash and Term Deposits

      Conservative Credit Income

      Before making a choice, you should consider the approximate return you are seeking, your tolerance for risk and how long you want your pension to last. We recommend that you consult a financial planner to help you make this decision.

      Which investment option will be the source of your pension payments?

      If you select more than one investment option when you commence your pension account, you can choose for your pension payments to be drawn either:

      • In the same proportion as your investment choices for your account balance or
      • From any of the investment options you have selected.


      Note: If the balance in your chosen option should reduce to zero, your pension will be paid from your remaining options in proportion to the balance in each of those options. 

      Do you have to make an investment choice?

      You will need to make an investment choice when you start your RetireChoice pension. Just complete the relevant section of the RetireChoice account based member application (PDF).

      How do you change your investment choice?

      You can change your investment option/s on a weekly basis, free of charge.

      Make an investment switch either by logging into your online member account or by completing a RetireChoice investment switch form (PDF). Your switch will be processed at unit prices that are set after your switch application is received by the Fund. Unit prices are normally set on a Tuesday. To receive the unit price set on a particular Tuesday, your application must be received by close of business (5:30 pm AEST or AEDT) on the previous Friday.

  • Are there any risks investing in RetireChoice?

    • One of the major risks with any type of investment is that it may fluctuate in value from year to year and may produce negative returns over the short-term, or even over periods greater than one year.

      The different RetireChoice investment options carry different risks. For example, the options with a higher proportion of growth assets (e.g. Shares) have a higher risk of negative returns, while options with a lower proportion of growth assets (e.g. Cash and Term Deposits) are more likely to have lower long-term returns and might fail to keep pace with inflation.

      Before you make a decision to invest in RetireChoice, be better informed about some of the other potential risks when investing in an account based pension.

  • Need more information?

    For more detail on Australian Catholic Superannuation's RetireChoice pension, download and read the Retirement Product Disclosure Statement (PDF).

    If you have questions about our RetireChoice pension or require specific advice on your own situation, you could benefit from meeting with a financial planner at Australian Catholic Superannuation. They'll be able to help you decide if an account based pension is best suited to your financial needs. You can call us on 1300 658 776 for more information or to make an appointment for an initial obligation-free discussion.

    Learn more about our financial advice services.

    If you've read the Retirement Product Disclosure Statement and are ready to start your RetireChoice pension, download the RetireChoice account based pension member application form (PDF), attach the necessary identification documents, sign and send it to us.

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