The NGS Income account will help you convert your super savings into an income with possible tax and Centrelink advantages. To commence a full account based pension Income account where investment earnings are tax-free, you must have:
If you have not met a condition of release, you may still be able to commence a Transition to retirement account, however, investment earnings are taxed from 1 July 2017.
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 (for people between their preservation age and age 65 who have not yet met a condition of release). If you start a transition to retirement pension, you will need to let us know if you meet a condition of release such as:
and you wish to transfer from the Transition to retirement account (where investment earnings are taxed) to the full account based pension (where investment earnings are not taxed).
For more information read our:
To open an NGS Income account please read the Product Disclosure Statement and complete the application form in either:
If you need assistance with establishing your pension: