It’s all a question of getting organised with your finances. How do you want to live? What do you dream of doing? How can you achieve those dreams?
Whether retirement is fast approaching or a few years away NGS Super can provide the guidance you need, from growing your super in the years leading to retirement to planning the right type of pension.
An accumulation account is one of the most common ways for members to manage their retirement savings. NGS Super accumulation accounts offer a variety of investment options with easy online administration, allowing you to take control and choose the right investment strategy for your life circumstances.
In the event that you have not specified a choice of investment strategy, your contributions are invested by NGS Super in the default investment option, known as Diversified (MySuper).
If you want a professional opinion and would like to consult someone who’s professionally qualified, an NGS Financial Planner can help. They not only have an in-depth understanding of your NGS accumulation and income account options, but they’re authorised to give personal advice about a wide range of investment and wealth-building topics outside of super.
You can learn more about the financial advice offered by NGS Super here. To get in touch with our planners and discuss your financial and lifestyle goals, simply complete our handy financial planning enquiry form today.
Start your NGS Super Accumulation Account and take control of your investment options today. With easy online adminnstration and the option of guidance from our qualified financial planners, its never been so easy to take control of your retirement strategy.
Many superannuation funds offer an account based pension. So does NGS Super – but we like to call it an income account because we are providing a regular income to you in retirement.
If you’re thinking about retirement, our income account pension is a flexible and tax-effective way to convert your lump sum retirement benefit into a regular income stream. You may also qualify for special treatment under the income test for the government age pension.
The NGS Income account is available either as an account-based pension (for retirees and people aged 65) or as a transition to retirement pension generally for individuals who have reached their preservation age ( If you were born between 1 July 1961 and 30 June 1962, your preservation age will be 57) and still working.
If you start a transition to retirement pension, you will need to notify us if you meet a condition of release such as:
so we can transfer you from a transition to retirement pension to the account based pension where investment earnings are tax-free.
The NGS Income account is available either as an account-based pension (for retirees
and people aged 65 and over) or as a transition to retirement pension generally
for individuals who have reached their preservation age (currently 57) and still working.
You’re fit, healthy and enjoy your job. If you’ve reached your preservation age, you have the option of easing into retirement. It’s a way of encouraging people like you to stay active in the workforce.
You can now draw down on your super pension while still working. No restrictions are placed on the number of work hours required. What’s more, you can choose to work part time or continue to work full time.
You can read more about transition to retirement here.
Okay. You may be earning less salary, so you can access a regular ‘income stream’ from your NGS Super account. This is called the transition to retirement pension. You can roll some or all of your superannuation into it.
|Your date of birth||Age|
|Before 1 July 1960||55|
|1 July 1960 – 30 June 1961||56|
|1 July 1961 – 30 June 1962||57|
|1 July 1962 – 30 June 1963||58|
|1 July 1963 – 30 June 1964||59|
|After 30 June 1964||60|
We all have different personal circumstances and attitudes to investment risk. That’s why you can choose from thirteen investment options to suit your needs.
Your situation can change from one week to the next, so you can switch investment choice at any time. Your first switch (each year) is without cost. Each additional switch will incur a fee.
Remember, we’re an industry super fund. After costs are taken out of investment returns, all profits are returned to members.
We charge you a $1.25 weekly administration fee. We do not pay commissions to salespeople or agents, nor do we pay any dividends to shareholders.
Your super is a long term investment. Markets may fall, but they do recover. The NGS Super investment strategy is designed to achieve a strong, long-term investment performance.
At NGS Super we ensure that our pension members receive all the necessary information about their income stream account on an ongoing basis.