While retirement is a phase of life we all look forward to, it’s common to approach it feeling unprepared. You should think about how you’d like to spend your retirement so you can set yourself up in advance. For most people, a government age pension income won’t provide enough for the lifestyle they’ve been picturing.
Superannuation and retirement go hand in hand — there are options within super you should consider to ensure you can create the retirement you've worked hard for.
Preparing for retirement
It’s a good idea to get your plans in order, so when the time comes, you can retire with confidence. When preparing for retirement, you should think about:
- how much super you’ll need to fund your lifestyle
- whether transitioning into retirement with an NGS Transition to retirement account could work for you
- if you’d like to keep your money invested and receive regular salary-like payments by transferring your super into an NGS Income account.
Start my retirement
Starting retirement is an exciting step forward. To best position yourself, consider factors like:
- how you’d like to access your super
- whether receiving a regular salary-like payment through an NGS Income account is the right option for you
- how the government age pension works with your super
- what returning to work after retirement could mean for your super.
Manage my retirement
If you’ve chosen to retire with NGS, you have the flexibility to change your regular income payment amounts as often as you like. There are some conditions to meet, but generally, how much you receive and how often is up to you.
It’s a good idea to keep on top of your beneficiary nominations too by ensuring your nominations are valid and remembering to update them if they expire or your circumstances change.Find out more
Why retire with NGS?Retirement doesn't need to mean the end of your super. You can choose to retire with us by opening an NGS Income account that will provide you with a regular income. You'll also continue to enjoy member benefits like competitive investment performance and access to NGS seminars and low-cost advice.
How much will I need?Super is your savings for retirement, so do you know how much you should be aiming for? The answer will be different for everyone — there are various factors you need to consider in working out how much you'll need for retirement.
Learn with NGS MoneyCoach
The decision to retire permanently largely depends on whether you have the financial resources available to see you through the rest of your life.Learn more
You know where your income is coming from today but do you know where it will come from in retirement?Learn more
Get advice for every stage of your life
NGS Super members have access to qualified and non-commission based financial planners, including over-the-phone limited advice* about your account, at no additional cost.Book now
*Limited advice covers one or two issues in isolation on topics such as investment selection and contribution levels. It does not take into account the member’s entire financial situation.