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Retire sooner rather than later, with a Super Income Stream account.
Whether you’re six months or six years away from retirement, it’s worth starting to plan now to understand your options.
Some of the most common questions people have when planning retirement are:
- How much will I need to retire?
- How does the Age Pension work and am I eligible?
You can try our calculator to work out how much you may need and get answers to other questions here:
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A Super Income Stream (SIS) account could be a great option for you as it allows your savings to keep growing, even after you’ve stopped working. See how a SIS account compares to taking your savings out as a lump sum and putting them in to a bank account below:
Bank savings account vs Cbus SIS account
Based on a $50k balance, over twenty years, you could have $19,720 more to use in retirement, compared to the average bank account.
| Option | 5 years | 10 years | 20 years |
|---|---|---|---|
| Cbus SIS Account | $12,305 | $24,610 | $49,220 |
| Major Australian Banks Seniors Account* | $7,375 | $14,750 | $29,500 |
| Difference | $4,930 | $9,860 | $19,720 |
*ANZ, CBA, Westpac, NAB.
Benefits of a SIS account.
It can work with the pension and there may be tax benefits.
It’s like a steady pay cheque, even after you’ve stopped working.
It’s flexible – you decide how much to withdraw and how often.
A Super Income Stream may not be appropriate for you. Before applying for a Cbus Super Income Stream you should look at your own financial position, objectives and requirements, or contact Cbus Advice Services for more information.
Retirement Essentials |
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Cbus are proud to partner with Retirement Essentials, experts in simplifying the Age Pension and Commonwealth Seniors Health Card application process for you. Get a free eligibility calculation, with a fee payable when you finish your application. You can complete your application online from the security of your own home with back-up telephone support if you need it. |
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Need help?
Contact our Cbus Advice Services team:
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Call us on 1300 361 784 (Option 4) Mon to Fri from 8am to 8pm (AEST) |
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Email us at cbusenq@cbussuper.com.au |
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Visit us online at cbussuper.com.au/sis |
SuperRatings does not issue, sell, guarantee or underwrite this product. Go to www.superratings.com.au for details of its ratings criteria. For further information about the methodology used by Chant West, see www.chantwest.com.au.
Cbus Trustee: United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 Cbus ABN 75 493 363 262.
Source: Cbus Retirement Income Estimate Calculator, excluding Age Pension entitlement.
The investment return is based on the Cbus Fully Retired Super Income Stream (SIS) default investment option - Conservative Growth, at 5.25% per annum.
The interest rate is based upon an average of the following major Australian bank accounts: ANZ Pensioner Advantage, CBA Pensioner Security Account, Westpac 55+ and Retired,
NAB Retirement Account, at 0.038% per annum for a $50,000 balance. Fees assumed for the Cbus SIS account include an account-keeping fee of $104 and an asset-based administration fee of 0.19%. Associated fees for the bank account are nil. Figures are accurate as at 30/04/2021.
As any estimate generated by the calculator is based on assumptions, the estimate may not be accurate for your situation if the assumptions are or become inaccurate for any reason including as a result of taxation or other legislative changes. The results shown are not guaranteed to occur and should not be relied upon as a true representation of any actual superannuation contributions, retirement benefit or taxation. These figures should not be relied on for making a decision about a particular financial product or class of financial product and are not a substitute for financial advice. Read the relevant Cbus Product Disclosure Statement and related documents to decide whether Cbus is right for you.
This email (including any attachments) contains information which is confidential and may be subject to legal privilege. If you are not the intended recipient you must not use, distribute or copy this email. If you have received this email in error, please notify the sender immediately and delete this email. Any views expressed in this email are not necessarily the views of Cbus.
This information is about Cbus. It doesn’t take into account your specific needs, so you should look at your own financial position, objectives and requirements before making any financial decisions.
Contact 1300 361 784 or visit
cbussuper.com.au
for a copy.
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