Making a withdrawal
You can elect to withdraw a lump sum from your pension any time that you choose, up to 100% of your account balance.
Note this option is not available if you have taken out a Transition to Retirement Pension.
The tax payable in relation to any lump sum commutation will vary depending upon certain factors such as your age.
To make a lump sum withdrawal you can either:
- phone HIP on 1300 654 099 and we will post a withdrawal form to you to complete
- download the form from the website
From 12 December 2007, the Trustee will be required to carry out proof of identity procedures before cashing a superannuation benefit or making pension payments.
These requirements arise under the Government’s Anti-Money Laundering and Counter Terrorism Financing legislation. HIP will be required to collect customer identification information and to verify it by reference to a reliable independent source. You will be notified of these procedures when making a withdrawal. If you do not provide the information or we are unable to verify the information as required, your payment may be delayed.
This website is provided by Private Hospitals Superannuation Pty Ltd ABN 59 006 792 749, AFSL 247063, RSE L0001533, Trustee of Health Industry Plan (SPIN HIP0100AU, RSE R1056617), and is general information only. It does not take into account your objectives, financial situation or specific needs so you should look at your own financial position and requirements before making a decision. Please note that investments can go up and down. Past performance is not a reliable indicator of future performance. You should assess your own financial situation and needs, read the relevant Product Disclosure Statement and consult an adviser if required before making a decision about products on this website.