Our Pre-Retirement Pension is designed to help you ease into retirement.
How does a pre-retirement pension account work?
If you’re still working and have reached your preservation age, this account gives you the option to access some of your superannuation money as a Pre-Retirement Pension (also known as a transition to retirement account). Until you retire, there are some restrictions:
- Annual payments must be a minimum of 2%* of your account balance and no more than 10%
- Lump sum payments are not allowed.
*For the 2021/22 financial year
You must reach preservation age before you can access your super benefits. This age ranges from 55 to 60 depending on when you were born.
|Date of birth||Preservation 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|
|From 1 July 1964||60|
Product Disclosure Statement
For detailed information about our Pre-Retirement Pension account, and a comparison to the Retirement Pension, download our Product Disclosure Statement.Download PDS
How you can benefit
You can use a pre-retirement pension as a way to maximise your savings for retirement, especially if you are over 60 years old and still working. Our financial planners can help develop a pre-retirement strategy and get you on the right track for retirement.
Enjoy more flexibility as you head towards retirement. Reduce your work hours with the comfort of knowing you can supplement your take home pay by accessing your super.
Opening an account
Opening a MyLife MyPension account is easy.
If you’re a currently a member of Catholic Super or MyLife MySuper, complete the application form found at the back of the PDS and send it to GPO Box 4303, Melbourne VIC 3001.
Please note the certified identification requirements – you can find more in the associated factsheet.
We're here to help
We can help guide you if you have any questions.