Document Sample
FACT SHEET Powered By Docstoc
					    FACT SHEET
     DATE OF ISSUE: 1 JULY 2009

The MTAA Super Pension
When you retire, you can either take your superannuation as a lump sum or convert it
into a pension to provide an ongoing income stream. So why choose a pension rather
than a lump sum?

A pension can offer significant tax advantages. The MTAA Super Pension:

    does not incur lump-sum tax if you’re over age 60

    eliminates tax on investment earnings in the Fund

    gives you concessional tax treatment on annual pension payments if you are under
    60 and tax-free pension payments if you are 60 or over.

More importantly, with the MTAA Super Pension you get the certainty of regular income
plus the flexibility to vary payments at any time to suit your changing lifestyle.

The MTAA Super Transition to Retirement Pension
Pay less tax, maximise your super and maintain a similar income.

If you’re aged over 55, you have a great option as you head towards retirement.
The MTAA Super Transition to Retirement Pension allows you to keep working and:

    pay less tax

    start receiving a regular income from your super

    grow your super faster and pay no tax on your investment earnings.

How does it work?
    Move your existing super into an MTAA Super Transition to Retirement
    Pension account.

    Use salary sacrificing to contribute some or all of your regular salary into your
    superannuation account. You’ll only pay 15 per cent tax (if you have supplied your TFN
    to the Fund) on the salary sacrificed part of your salary (within limits), instead of your
    marginal tax rate, which could be up to 46.5 per cent (including the Medicare levy).

    You can draw regular pension payments directly from your Transition to Retirement
    Pension account to replace your salary and maintain or improve your lifestyle. You’ll
    receive tax concessions on the pension payments before age 60 and zero tax when
    you reach 60.
In addition, all investment earnings in your Transition to Retirement Pension account
                                                                                                 Telephone: 1300 362 415
are completely tax free, which can help your retirement savings grow even faster.                Facsimile: 1300 365 142

                                                                                                 An Industry
                  Benefits of an MTAA Super Pension

We charge         Control: choose how your pension is invested
                  Members have eight investment options:

pension           Pre-Mixed Options
                      Conservative (default)
                                               My Choice Options
                                                    Australian Shares
members a low         Balanced                      International Shares
                      Growth                        Diversified Fixed Interest
$7.50 per week.       Target Return                 Cash
                  You can choose a single option or a combination of options.

                  Certainty: choose your payment frequency
                  You can choose to receive your pension payments at any of the following intervals:

                  Security: keep track of your pension online
                  Using MTAA Super’s online facility, ePension, you can do all the following:
                      check your account transactions
                      get a balance estimate and quote
                      change your address details
                      change your beneficiary details
                      see where your pension is invested
                      change your investment preferences
                      change your payment amount or frequency.
Key features
The table below provides a brief summary of the key features of MTAA Super Pensions.
Please refer to the MTAA Super Pensions Handbook for further information.

Feature                                                   Details
Investment option(s)                                      8 investment options
Payment frequency                                         Yearly
Size of payments                                          Any amount selected by the member,
                                                          above the statutory minimum annual
                                                          requirement. The amount must be above
                                                          a certain prescribed minimum level
                                                          and below a maximum of 10% of your
                                                          pension account balance for Transition to
                                                          Retirement Pensions.
Pension term                                              Until the account balance reaches $0
                                                          – influenced by the starting amount,
                                                          payments selected, commutations,
                                                          investment earnings, fees, costs and taxes.
Reversionary beneficiary1 allowed                         Yes
Additional contributions                                  No
allowed after commencement?
Minimum investment amount                                 $10 000
Investment earnings tax free                              Yes
within account
Assessable against Social Security                        Fully assessable
assets test
Assessable against Social Security                        Yes – less Social Security deductible
income test                                               amount
Default investment option                                 Conservative option
Pension administration fee                                $7.50 per week

1. Reversionary beneficiary – The person who you nominate to automatically continue to receive your pension
   upon your death. Please refer to the MTAA Super Pensions Handbook for a detailed definition.
MTAA Super’s Business
Development Managers1
Brett Dolling      02 9213 4236   How we can help
Joshua Gaughan     02 9213 4274
                                  The team at MTAA Super is committed to helping you. Our experienced staff can
Andrew Gledhill    02 9213 4239
                                  provide further information or assistance with your pension arrangements. Contact us
Graham Millar      02 9213 4237   on 1300 362 415 between 8.00 am and 7.00 pm EST Monday to Friday.
Diedre Bell        07 3422 7703
                                  MTAA Super conducts regular education seminars across Australia. The seminars are free
Peter Jones        07 3422 7702
                                  of charge. Each session runs for approximately two hours and includes a break for
Lynne Wilkinson    07 3422 7704
SA and NT                         Among the topics covered are:
Asta McCormack     08 8291 2025       features and benefits of MTAA Super
Craig Walker       08 8291 2019
                                       making contributions, including salary sacrificing and voluntary contributions
Dianne Chitty      03 9829 1274        lump-sum withdrawals and superannuation pensions
Scott Harris       03 9558 6822        retirement planning.
Peter Mitchell     03 9230 5833
Sue Schlesinger    03 9558 6822   Details of the seminar program can be obtained from the MTAA Super website,
Eric Vine          03 9558 6822 or by contacting us on 1300 362 415.

WA                                Financial planning
Phil Seals         08 9453 7981   MTAA Super members have access to fee for service financial planning advice through
Richard Stuttard   08 9453 7982   Industry Fund Financial Planning (IFFP). Contact us on 1300 362 415 and we will put you
                                  in touch with an adviser for an obligation-free consultation.
Industry Fund Financial
                                  Members Equity banking services
Planning2                         MTAA Super members have access to comprehensive banking services through Members
ACT                               Equity Bank. To find out more, or to obtain a Product Disclosure Statement, call Members
Julie French3      02 6273 4333   Equity Bank on 13 15 63 or visit You should
NSW                               consider the Product Disclosure Statement when making decisions about these products.
Hernan Reyes       02 9213 4271
                                  How to apply
Sharyn Hampson     08 8942 3904   To apply, contact us on 1300 362 415 or visit for a copy of
                                  the MTAA Super Pensions Handbook.
Andrew Bailo       07 3233 6663   MTAA Super
                                  Locked Bag 15
SA                                Haymarket NSW 1236
Robert Last        08 8125 2500   Telephone 1300 362 415
TAS                               Facsimile 1300 365 142
Ken Drake          03 6224 1007   Email
Rod White          03 9657 4286   State offices
Damien Foley       03 9657 4367   Sydney               Level 5, 477 Pitt Street, Sydney NSW 2000
                                  Melbourne            Level 2, Casselden Place, 2 Lonsdale Street, Melbourne VIC 3000
WA                                Canberra             Unit 6, Ground Floor, 33 Allara Street, Canberra ACT 2601
Wayne Branscombe 08 9463 3937     Perth                Level 2, 12 St Georges Terrace, Perth WA 6000
                                  Adelaide             Level 2, 104 Frome Street, Adelaide SA 5000
                                  Brisbane             Level 11, 120 Edward Street, Brisbane QLD 4000              Hobart               Level 2, 119 Macquarie Street, Hobart TAS 7000
                                  1. MTAA Super’s Business Development Managers are authorised representatives of the Motor Trades Association
Telephone: 1300 362 415           of Australia Superannuation Fund Pty Ltd (AFSL 238 718). 2. Industry Fund Financial Planners are representatives of
                                  Industry Fund Services Pty Ltd (AFSL 232 514), which is responsible for the financial services provided by its representatives.
Facsimile: 1300 365 142           3. Julie French has a dual role; she is also the Business Development contact for the ACT.

                                  This notice is issued by the Motor Trades Association of Australia Superannuation Fund Pty Limited (ABN 14 008 650 628,
                                  AFSL 238 718), Trustee of the MTAA Superannuation Fund (ABN 74 559 365 913, SPIN MTA0100AU). The information
                                  provided is of a general nature and does not take into account your specific financial needs or personal situation.
                                  You should assess your financial position and personal objectives before making any decision based on this information.
An Industry                       We also recommend that you seek advice from a licensed financial adviser. The MTAA Super Pensions Product Disclosure
                                  Statement (PDS) an important document containing all the information you need to make a decision, can be obtained
                                  by calling MTAA Super on 1300 362 415. You should consider the PDS in making a decision.                     5407-07/09