Open a retirement income account
Join as a Transition to Retirement or a legalsuper Pension member. These account based pensions allow you to start drawing your super as an income, while you keep the balance of your money invested.
If you've met the eligibility criteria, you can convert your super to a flexible, tax-effective legalsuper Transition to Retirement (TTR) or Pension account. When you establish your account, some of the things you must consider include:
- how much you want to transfer from your super account;
- whether you want to transfer other funds from outside legalsuper;
- how you would like your funds invested;
- the frequency and amount of pension payments; and
- your beneficiary details.
You can't open a TTR or a legalsuper Pension account online.
You must download and read the Pension Product Disclosure Statement, and complete the application form, then post this to legalsuper alongside your Proof of Identity and bank account details.Join: Pension membership (1003.12 KB) Pension Product Disclosure Statement (659 KB)
Starting a Transition to Retirement or a legalsuper Pension account can be quick and easy but there are a lot of complexities to consider which could have long term impacts. The way you establish your account can have significant impacts to your savings. We strongly recommend you speak to your financial adviser, or, if you don't have an adviser, our Client Service team are available to assist you, at no cost. Call us, or send us a message and we will be in contact.
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