Retirement income strategy
At Vision Super, our purpose is to help you to achieve a fulfilling and secure retirement. As part of our commitment to supporting your retirement journey, we’ve developed a comprehensive Retirement Income Strategy (RIS) in response to the Federal Government's Retirement Income Covenant. A summary of our RIS is outlined below.
This strategy is designed to help you navigate the transition from accumulating superannuation savings to managing your superannuation income throughout retirement. By focusing on differing needs, retirement goals and different interaction styles, our strategy aims to enhance your financial well-being and ensure you make the most of your superannuation.
Vision Super products and features available to you
Vision Super have a range of products and features available to assist eligible members reducing their work hours or entering full retirement. For detailed information please refer to the Vision Income Streams Product Disclosure Statement.
Transition to retirement
Unsure about retiring completely, and want to see what the fuss is first by reducing your hours? No problem. With our Non-commutable Account based pension if you’ve reached your preservation age, you can access money from your super while continuing to work.
Account based pensions
Once you’ve retired, you can take the stress out of receiving a regular income with Vision Super’s Account based pension. You’ll be able to convert your super into a flexible, low-cost, regular, tax-effective income, all while keeping your super funds invested and providing strong returns.
Three bucket pension
Our Three Bucket Pension is an investment strategy available through our retirement pension that can help take the guesswork out of investing your pension account balance and help you manage how long your savings last. Providing you with a stable, regular income in retirement (this is not available to Transition to retirement pension).
Retirement wage
The Vision Super retirement wage is a yearly calculation (annual retirement wage calculation) that is available to you if you hold an eligible Account based pension. This is intended to provide you with an estimate of the level of pension payments (income level) you could elect to receive from your retirement pension within a specified financial year if your objective is to receive pension payments from your Vision Super Account based pension for the duration of your retirement.
Retirement bonus
The Fund is currently providing a Retirement bonus to eligible members who start an eligible Vision Income Stream on or after 1 January 2021. The Retirement bonus percentage is currently set at 0.5%. The Retirement Bonus is available to you if you are an eligible Vision Super member. Find out more by clicking on the button below.
*Vision Super includes other types of pensions through defined benefit arrangements, such as lifetime pensions. These pensions are not available to members other than members in a defined benefit plan or scheme. If you are a defined benefit member, contact us on <insert number>
Vision Super has a range of products that are closed to new members
How we can help you now
We want to ensure that you can interact with us at Vision Super in which ever way suits you the most. There is never any one size fits all and for that reason we have developed or provided access to an online retirement health check calculator that allows you flexibility to enter your personal retirement scenario.
Retirement income calculator
Review your retirement using this helpful calculator, which estimates your future retirement income and boosts your understanding of superannuation. It considers most of your finances – including non-super assets and your partner’s (if applicable) – and lets you create a clear retirement budget. You’ll receive a straightforward report at the end, so you can keep and monitor your outcomes.
Financial advice - just for you
Everybody’s individual circumstance are unique to them, that is why Vision Super members and their spouses have access to a dedicated financial advice team to help ensure that you are on the right track. You might need some personal advice on your investment choices or contributing to super or you are planning on retiring and you (and your spouse) want to sit down and look at your entire financial situation and make sure you are set up for retirement or you may be wanting to know if you are on the right track through retirement.
Whatever your journey, there is an adviser who can help you.
Below is a summary of the services Vision Super members have access to:
Retirement health check | Are you wondering if you are on track for retirement? A retirement health check allows you to speak with a Vision Super financial planner and receive a detailed projection to determine your retirement readiness. | A retirement health check can consider:
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Limited advice | Do you want to unlock the full potential of your Vision Super account? Get tailored advice on your Vision Super account to make it work harder for you and help set you up for retirement and beyond. | Examples of Limited Advice:
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More comprehensive financial advice | Do you want to make all your finances work together? More comprehensive advice is about looking at your broader financial situation, even non-Vision Super matters, and making a financial plan that works for you. | Personal advice examples
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What’s next at Vision Super?
Our goal is to help ensure that you achieve the retirement you envision with complete confidence in your decisions. To support this, we are committed to enhancing how you can interact with us and access the information you need. We have identified key areas where we can improve and streamline our communication and resources to make your experience as smooth and efficient as possible. We want you to be able to effortlessly reach out to us and obtain the necessary information quickly and easily, so you can make informed choices about your retirement with ease.
If you would like to find out more or speak to somebody feel free to call our Retirement hotline on 1300 017 589 or complete this online form and a member of our team will call you back at your convenience.
Disclaimer
Vision Super Financial Planners are employees of the Trustee (or a related entity) that are authorised to provide financial advice as representatives of Industry Fund Services Limited (IFSL) ABN 54 007 016 195 AFSL 232 514. Any financial advice provided by a Vision Super Financial Planner is issued on behalf of IFSL, not their employer. Vision Super Financial Planners can provide financial advice including personal advice about Vision Super that takes into account your personal circumstances.