A legalsuper pension is a type of account which provides regular payments & the option to receive lump sums for members who are no longer working or are eligible to access their super.
legalsuper Retirement Pension features
Suitable for people who are still working and have reached their preservation age and want to save tax while growing their super, or supplement their income by accessing their super savings (up to 10% of your TTR account balance per financial year).
Minimum investment amount:
- Twice monthly, monthly, quarterly, half-yearly or yearly.
- You can choose any income amount, there are no limits.
- There are 10 investment options available, including a self-managed option, the Direct Investment option.
Lump sum withdrawals:
- You can make lump sum withdrawals from your legalsuper account at any time. This is also known as a 'commutation'. Tax will be deducted from the lump sum accordingly if you are under age 60. Over age 60 there is no tax payable on lump sum withdrawals. More info can be found on the ATO page.
- You can roll back your retirement pension account in to your regular super account at any time, or you can withdraw the full value to close your account. You are not locked into a Retirement Pension account for any defined term.
For more information:
- Download the Product Disclosure Statement below.
Fees & costs of a Retirement Pension account
legalsuper works hard to keep fees and costs low. Our sole purpose is to maximise the retirement savings of our members. We do not pay a commission to agents and are an ‘all profits for members’ fund. To find out more about legalsuper's Transition to Retirement Pension Fees and charges go to Retirement and TTR Pensions - Fees and charges.