Who can invest? 

To be eligible to invest you must be a member of the ACSuper fund. If you are not a member, you can join to become one and your employer must also be a participating employer of ACSuper. Here’s how you join ACSuper.

You must also be able to access your super. In general, this means you must either be over age 65, have retired, have reached your preservation age (between 55 and 59) or met another condition of release.

Can I invest with ordinary savings?

No. You must have superannuation money to invest. You cannot use ordinary savings like money in your bank account or proceeds from the sale of a house.

Do I have to be retired to be eligible to invest?

No. If you are still working (in any capacity) you can invest in ACSuper Pension by selecting the Transition to Retirement (TTR) option on the application form. The TTR pension has some restrictions; for example, you cannot withdraw lump sums unless you have “unrestricted non-preserved” money.

How much pension can I receive?

How much pension you receive is up to you but you must take at least an annual minimum pension, which is based on a percentage of your account balance each tax year. The minimum pension percentage is based on your age.

If you take a TTR pension, you must also keep within an annual maximum pension limit which is equal to 10% of your account balance.

How often can I receive my pension?

This is up to you. You can elect to receive pension payments monthly, quarterly or yearly. Your payments will be paid on the 1^st  business day of each month or quarter or June (for the yearly option).

How are pension payments paid?

Payments will be deposited directly to your nominated bank account. You cannot receive payments by cheque or any other way.

How long will my pension last?

Your pension will be paid as long as there is money left in your pension account. Once your account runs to zero your pension account will close. Your account balance will depend on how much you deposited, the annual pension payments withdrawn, any lump sums withdrawn, investment returns allocated to your account, and fees deducted. You can find out how much is in your account by going online and logging on as a member, or by calling ACSuper.  

Can I add further deposits to my pension?

No. You cannot top-up your pension account once pension payments start. If you want to invest further amounts in an ACSuper Pension you have to open another pension account.  

Can I withdraw lump sums?

Yes, but generally not if you have a Transition to Retirement Pension (TTR). If you have a TTR Pension, the only lump sums you can withdraw are amounts classified as ‘unrestricted non-preserved’ components.

Can I withdraw my account balance and invest in another pension?

Yes. If for whatever reason you want to cease your ACSuper Pension, you can withdraw your account balance and invest it in another account-based pension or, if you are eligible to do so, another investment.

Can I include another person in my pension account?

No. Your pension account can be opened only in your name, and only you can receive the pension payments while you are alive. You can however nominate a beneficiary to receive you pension in the event of your death.

What happens if I die?

This will depend on how you have set up your pension. You can choose to have the balance of your account paid to your nominated beneficiary as a lump sum or you can have the pension payments continued to be paid to your ‘reversionary’ beneficiary (conditions apply). Read more about nominating beneficiaries here.

Can I decide where to invest my money?

No. Your pension account is invested in the Income portfolio.

What are the risks of investing in the ACSuper Pension?

There is no such thing as a risk-free investment, so please read the Pension PDS carefully to help you make an informed decision. Also, seek professional advice to see if this investment is suitable for your personal situation. Some of the risks associated with this investment include:

• Your account balance will fluctuate based on how much you take out, investment returns and fees.
• Your investment funds may not achieve positive returns all of the time
• Investment and economic risks may impact on the performance of your underlying investment option
• You cannot take out insurance so you will have to find alternative means of life and disability insurance.

 How can I keep track of my investment?

 You can keep track by going online at www.acsuper.com.au where you can log on as a member and check your account balance, update personal information, review investment details and more. You can also call our helpline on 1800 856 653 (free call).

What are the fees?

ACSuper Pension charges fees and other costs for running the fund and managing the Investment Options. Full details are contained in the PDS.

As an ‘industry’ super fund run for the benefit of members, the fees and charges are lower than what you would find in a typical retail super fund.

Do I pay tax on my pension payments?

If you are over age 60, your pension payments are tax-free. If you are under age 60, your pension payments are subject to tax, based on your age and other factors.

How does Centrelink treat my ACSuper Pension payments?

Your ACSuper Pension will be included in the Income and Asset tests for the Government aged pension. The balance of your account is counted as an asset under the Asset test and your pension payments (less a non-assessable amount) will count under the Income test. This is a complex area and we recommend you seek professional advice.

What is a trustee?

A trustee is a person or company appointed under the terms of the trust deed of the fund to hold trust property for beneficiaries and ensure the fund operates according to the trust deed and relevant laws. You can find information on the Trustees of the ACSuper Fund here.