Asset Super allows transitions to retirement

superannuation-funds/

18 July 2005
| By Michael Bailey |

Industry super fund Asset Super has modified its trust deed to meet the ‘transition to retirement’ rules, which came into effect on July 1, enabling it to offer a non-commutable pension to members of the fund who are still working but have reached their preservation age.

Asset Super general manager, John Paul, said the company had worked hard to make the changes necessary to allow members to access the non-commutable pensions.

He said the ‘transition to retirement’ rules would mean many superannuation funds had to change their trust deed before they could offer this type of pension product.

“Our members who wish to continue working on a part-time basis once they’ve reached preservation age, as well as use part of their super in the form of a non-commutable pension to supplement their income, can do so straight away,” Paul said.

Platform provider, Navigator has also responded to the transition to retirement initiative, however other platform providers have been slower to respond.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 1 week ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks 1 day ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

2 weeks ago

One licensee has lost 27 advisers in the past week, now sitting at zero, according to the latest Wealth Data figures....

3 weeks 1 day ago

TOP PERFORMING FUNDS