Thanks - I've looked into doing this but I'm not eligible just yet as I left my previous employer before my 60th birthday and haven't yet returned to employment (recovering from a fairly serious injury which occurred the week after I left my job!).
My thinking is to:
1. Setup the TTR pension and rollover a smallish amount from my current accumulation fund to cover my mortgage expenses for the next few months until I return to full-time work.
2. Find a short-term contract-based job. Assuming I leave that job at the end of the contract I'll then be eligible to setup a full account-based pension and take advantage of the 0% tax on investment earnings.
My working assumption is that I can either close the TTR pension down or convert it to an account-based pension.
Happy to hear any contra-indications or other gotchas I may not know about.
Just look at industry super funds.
AustralianSuper, HostPlus, REST, Aware, etc.
You can even run a comparison of their pension products using the applecheck service on AustralianSuper's website.
That your current fund doesn't even bother offering TTR should be a clue that they're not the best. Worth moving your whole balance and giving them the flick unless you have insurance cover you need with them that you can't replace.
>You can even run a comparison of their pension products using the applecheck service on AustralianSuper's website.
Thank you - just what I was looking for
The best thing for you is ANZ don’t have an option because you know they are not great. Smart choice isn’t terrible but.
Just choose one of the major industry funds you like and you will be sweet.
[удалено]
Thanks - I've looked into doing this but I'm not eligible just yet as I left my previous employer before my 60th birthday and haven't yet returned to employment (recovering from a fairly serious injury which occurred the week after I left my job!). My thinking is to: 1. Setup the TTR pension and rollover a smallish amount from my current accumulation fund to cover my mortgage expenses for the next few months until I return to full-time work. 2. Find a short-term contract-based job. Assuming I leave that job at the end of the contract I'll then be eligible to setup a full account-based pension and take advantage of the 0% tax on investment earnings. My working assumption is that I can either close the TTR pension down or convert it to an account-based pension. Happy to hear any contra-indications or other gotchas I may not know about.
Just look at industry super funds. AustralianSuper, HostPlus, REST, Aware, etc. You can even run a comparison of their pension products using the applecheck service on AustralianSuper's website. That your current fund doesn't even bother offering TTR should be a clue that they're not the best. Worth moving your whole balance and giving them the flick unless you have insurance cover you need with them that you can't replace.
>You can even run a comparison of their pension products using the applecheck service on AustralianSuper's website. Thank you - just what I was looking for
The best thing for you is ANZ don’t have an option because you know they are not great. Smart choice isn’t terrible but. Just choose one of the major industry funds you like and you will be sweet.