Retirement Bonus
Transfer your existing Rest Super, Rest Corporate or TTR account to a Rest Pension Retirement account, and you could start your retirement with a little extra.
Rest Pension Retirement account | Transition to Retirement account (TTR) | |
---|---|---|
How much super do I need to open an account? | $10,000 | $10,000 |
Who can join? | You've retired and have reached preservation age (the age you can access your super) | You've have reached preservation age (the age you can access your super) |
Is there a limit on how much I can transfer into my Rest Pension? | Transfer balance cap for 2021-22 is $1.7 million (if you start your first retirement account on or after 1 July 2021) | No |
How often do I receive payments? | Fortnightly, monthly, quarterly, half-yearly or yearly | Fortnightly, monthly, quarterly, half-yearly or yearly |
How much can I take out each year? | Your choice, as long as it is at or above the annual minimums set by the government. No maximum limit | At least the minimum limit set by the government, and a maximum of 10% of your account balance |
How much tax will I pay on investment earnings? |
Nil | Up to 15% per annum |
How much super do I need to open an account? | |
Rest Pension Retirement account | $10,000 |
Transition to Retirement account (TTR) | $10,000 |
Who can join? | |
Rest Pension Retirement account | You've retired and have reached preservation age (the age you can access your super) |
Transition to Retirement account (TTR) | You've have reached preservation age (the age you can access your super) |
Is there a limit on how much I can transfer into my Rest Pension? | |
Rest Pension Retirement account | Transfer balance cap for 2021-22 is $1.7 million (if you start your first retirement account on or after 1 July 2021) |
Transition to Retirement account (TTR) | No |
How often do I receive payments? | |
Rest Pension Retirement account | Fortnightly, monthly, quarterly, half-yearly or yearly |
Transition to Retirement account (TTR) | Fortnightly, monthly, quarterly, half-yearly or yearly |
How much can I take out each year? | |
Rest Pension Retirement account | Your choice, as long as it is at or above the annual minimums set by the government. No maximum limit |
Transition to Retirement account (TTR) | At least the minimum limit set by the government, and a maximum of 10% of your account balance |
How much tax will I pay on investment earnings? |
|
Rest Pension Retirement account | Nil |
Transition to Retirement account (TTR) | Up to 15% per annum |