QIEC Super - first in our class

The Pre-Retirement Account Based Pension is a measure to transition into retirement.  It is designed to allow you to lessen your full-time workload whilst maintaining your standard of living.  If you decide to work, say, 3 days per week, your reduced salary can be supplemented by means of a Pre-Retirement Account Based Pension.  You may use some or all of the balance in your superannuation account to fund the Pre-Retirement Account Based Pension.

However, in taking up the Pre-Retirement option you cannot withdraw (or commute) any benefits as a lump sum unless you satisfy a Condition of Release.  eg. Death, Total and Permanent Disability or permanent retirement.

To be eligible to commence a QIEC Pension in Pre-Retirement you must:

• Be aged between 55 and 64; and
• Have a minimum Account Balance of $10,000.

Download the 2011 Pension Product Disclosure Statement  for further information.