HIP Super Pension

HIP provides superannuation benefits to members during their employment.  HIP has now introduced pensions for members approaching and after their retirement.  

The pension division of HIP provides benefits to both you and your dependants. 

 

  • A HIP Super Pension allows you to receive your superannuation benefits as an income stream, as opposed to one lump sum payment.
  •  HIP Super Pensions are highly flexible.  You can select the frequency of your pension payments as well as the size of the pension payments you wish to receive, above a required minimum amount. 
  • You can commute (end your pension and take the remaining assets as a lump sum) or take a portion of your account balance underlying the pension as a lump sum (partial commutation), at any time. 
  • If you have taken out a pension under the Transition to Retirement rules, you will be unable to commute the pension until you retire.  An annual maximum pension payment amount will also apply. 
  • Upon your death, a Superannuation Pension can revert to a dependant, or be paid to a non dependant as a lump sum.
  • The assets supporting your pension can be invested in your chosen investment option.  Investment returns will be applied to your pension via the crediting rate, with fees deducted.

 

Are you permanently retired?

A HIP Super Allocated Pension is a flexible and tax-effective way of providing regular income in retirement. This is suited to people who have retired permanently from the workforce and want a tax-effective pension that still allows them to access their capital at any time.

Are you over 55 and still working?

With a Transition to Retirement Pension you can get access to your preserved super money as a tax-effective income stream without the need to retire first.  It’s ideal for people aged 55 or over who want to go part-time but need a little extra to supplement their income and provides the capacity to improve retirement savings by taking advantage of the tax effectiveness of account based pensions.

Great value – 6 great reasons to choose a HIP Super Pension 

  1. tax-effective income stream
  2. investment earnings are tax free
  3. flexible payment options
  4. wide choice of investment options
  5. ability to draw down additional lump sums
  6. low management fees*

*Please refer to the HIP Super Pension Product Disclosure Statement for more information about fees, charges and investment returns

How do I apply for a HIP Super Pension?

To apply for a HIP Super Pension, first make sure you have read the Product Disclosure Statement and understand how a HIP Super Pension works.  Simply download the HIP Super Pension Product Disclosure Statement, then complete the application form at the back of the booklet.