RetireChoice gives you control of your investment decisions to achieve long-lasting income in retirement.

What is RetireChoice?

RetireChoice is an account-based pension that allows you to choose how your funds are invested even as you are drawing on them.

Key features of RetireChoice

Investments

A RetireChoice account gives you the flexibility to change your investments or rebalance your accounts as your needs change.

Pension income

You can nominate your annual income – subject to age-based minimums – as well as choose which options from which your income is paid.

Flexibility

Need to make a withdrawal? RetireChoice allows you to do it at any time. The minimum withdrawal amount is $5000.

Payment frequency

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

Minimum investment

$25,000

Maximum investment

You can invest up to $1.6 million (for the 2017/18 financial year) in an account based pension product, like RetireChoice, the maximum allowed amount across all of your retirement accounts (not including transition to retirement accounts). This is known as the Transfer Balance Cap, an industry-wide rule enacted by the government from 1 July 2017. Our financial advice team can provide strategic advice on how to manage your accounts if your balance is near or over that amount.

Do I need to make investment choices?

You will be required to select at least one investment option when you commence your RetireChoice pension account. You can change your investment options free of charge. You can do so by either submitting a RetireChoice retirement switch form or by logging in to your online member account.

If you would prefer not to select any investments, our RetireSmart account-based pension may be a more suitable option for your needs.