If your Accumulation and/or Income account balance is under $6,000, your fees (including all admin and investment fees and costs, and transaction costs) are capped at 3% of your account balance. Allocation 4. gov. Grow your super Salary sacrifice Super co-contribution Voluntary contributions. The graph shown above is based on unit prices, which are net of fees and taxes. 6. • Withdraw your benefit as cash. Superannuation. Log in. apply unless you. Consolidate now. This option could experience negative returns over the short term. In the Accumulation account, you can (if eligible): • Receive contributions and make voluntary contributions • Receive transfers from other super accounts • Receive employer contributions • Make lump sum withdrawals. 3. Your QSuper Retirement Income account is considered to be a financial asset. Use this form if you want to make a one-of voluntary contribution to your QSuper Accumulation account via EFTPOS, cheque, or money order. I confirm I've received, read and understood. Taking five simple actions today may help you feel more in control of your future. This Accumulation Account Guide provides details about the QSuper Accumulation account product, and other important topics like how fees and taxation apply to the. • My Accumulation account becomes inactive by not having money added in the last 13 months, and/or • My Accumulation account balance is below $6,000, and/or. This includes your personal contributions and interest paid before 1 July 1999. Retirement accounts . A Retirement Income account can help maximise your savings, with tax-free investment earnings and no tax on payments or withdrawals after you turn 60. The table below shows the different percentage rates of your salary you can contribute and how this grows your multiple. qld. Email [email protected] 2 – Transfer my funds to a QSuper Accumulation account My existing QSuper Accumulation account number: If you don’t have an Accumulation account yet You can open a QSuper Accumulation account in Member Online (memberonline. Accumulation account claim form - QSuper - Queensland Government. Minimum superannuation drawdown rates. qld. • I understand that if I don’t already have an Accumulation account, one will be opened for me. paid in Retirement Bonuses. 2. or you can also use up to 3 years of cap ($330,000) under bring-forward rules, if your total super balance was less than $1. If you’ve reached. Assets. Accumulation account (if applicable)? No, I don’t want to withdraw money. QSuper’s Accumulation account, Balanced Option only, ranked fourth. Awards are only one factor to be taken into account when deciding to invest. This minimum balance will apply unless you are withdrawing all of your funds and closing your account, or if you have money in Self Invest. Your quick guide to your super obligations. 1. Returns shown are based on disclosed unit prices and are compound annualised return, net of fees and tax. Prepare a budget for your retirement to make sure you don't spend too much too soon. qld. tell us the account(s) you want to split contributions from. Splitting super contributions means transferring part of your before-tax (concessional) contributions from your super account to your spouse's super account. To keep Self Invest open, you need a minimum of $10,000 invested in one or more of the other QSuper investment options through your Option 2 – Transfer my funds to a QSuper Accumulation account My existing QSuper Accumulation account number: If you don’t have an Accumulation account yet You can open a QSuper Accumulation account in Member Online (memberonline. QSuper accounts (participating employer): 60905115063002. gov. If you are 60Make a Withdrawal from an Accumulation Account. The Retirement Bonus is a tax saving we pay you (if eligible), when you move money from our Accumulation or Transition to Retirement Income account, to our Retirement Income account and/or Lifetime Pension. If your super is taxed, you may find it to be lower than tax on income and investment earnings outside of super. want to claim a tax deduction for personal contributions made to another fund, please contact them directly. This means that we should not simply withdrawal the $250,000 Taxable Component and recontribute it, as this would contain part of the Tax Free Component and would leave part of the Taxable Component inside super and we would. gov. Withdraw your superHow an account-based pension works. Take a lump sum You can receive the full amount at. When you're ready, retire with QSuper. Accumulation account Transition to Retirement Income account. The rating is issued by SuperRatings Pty Ltd ABN 95 100 192 283 AFSL 311880 (SuperRatings). Use this form to cancel the income protection, TPD, or death cover you hold through an Accumulation account. Get started now. Email address. You must possess Accumulation Account in QSuper Fund as of May 17, 2016, and be qualified for White Collar Rates, Professional Rates* (Fund Member), or Standard Rates. Email [email protected] account; Transition to Retirement Income account; Retirement Income account ; Lifetime Pension;. Make a withdrawal. 68m last financial. If you are over 60 and are withdrawing an amount from an accumulation account the amount will be tax free if you meet a condition of release. Set a budget. This is an extra payment on top of the superannuation guarantee contribution your employer has to make. Withdraw your super; Seminars and education;. • Have a superannuation balance of at least $30,000 at commencement. Grow your super. 1. If you want to open a Transition to Retirement Income account, Retirement Income account, and/or purchase a Lifetime . financial hardship, compassionate grounds, terminal medical condition, or total and. So an Income account can be helpful because it allows withdrawals at any time. Application to Transfer My Insurance to QSuper. This means after investment fees and costs, transaction costs, and investment taxes. QSuper accounts have a cap of $875 per year on the administration fees and costs you pay. Switch Investments in an Income Account. If you'd like to consolidate super from outside Australian. If your QSuper Accumulation account and QSuper Income account balances are less than $6,000 at the end of the financial year (30 June), certain administration and investment fees and costs charged to you are capped at 3% of the account balance. View Focus 1 Dashboard. QSuper Accumulation account when you make a lump sum withdrawal. If you're under 60, it depends if you're at your preservation age how much tax. Default option for members with an Accumulation account who have not made an investment choice. To keep Self Invest open, you need a minimum of $10,000 invested in one or more of the other QSuper investment options through your1. Accumulation account; Transition to Retirement Income account; Retirement Income account ; Lifetime Pensionaccount to a QSuper Accumulation account, none of your benefit can be withdrawn as cash until retirement, including your personal contributions and interest paid before 1 July. You must keep a minimum balance of $6,000 in an Accumulation account. If you're eligible, it only takes 10 minutes to apply online and. QSuper Accumulation account when you make a lump sum withdrawal. Once you have our acknowledgment letter, lodge your tax return, stating the amount you are claiming in the supplementary section of your tax return. The table below shows the different percentage rates of your salary you can contribute and how this grows your multiple. Financial hardship withdrawals are taxed as a lump sum at up to 17% to 22% if you're under 60, and tax-free over 60. If you have an Income account and have made a reversionary beneficiary nomination, your dependant can. View all. When you have a Defined Benefit account with an attached Accumulation account, the transactions for both of these accounts will be displayed on your Defined Benefit account. View the detailed list of what this option invests in for Accumulation or Income accounts. This minimum balance will . 2. You don't need to pay or book an appointment - our online advice service can get you answers in 5-10 minutes and it's included in your membership. Accumulation account Transition to Retirement Income account. If you end an employment arrangement on or after age 60, you can also access the. Accumulation account and Income account As Accumulation and Income accounts are unit-based, we multiply the number of units in the account by the unit price applicable on the valuation date you nominate. When you're ready,. Your Adviser – We can work with your adviser. Withdraw your super. An account-based pension has various names within the superannuation industry. Can I join? Past performance is not a reliable indicator of future performance. Here we explain what this means for QSuper members who have insurance cover with an Accumulation account. Why QSuper? A focus on long-term performance. Lump sum withdrawals are generally not available for Accumulation unless retired or early access (e. How unit prices are calculated. The QSuper Balanced Accumulation option returned 2. Online Advice1 – Log in to Member Online for our online advice service about your super. Grow your super Salary sacrifice Super co-contribution Voluntary contributions. More reasons to feel good. Salary sacrifice; Super co-contribution. From 1 July 2017 investment earnings are no longer tax free, so are the same as those in the Accumulation account. Award-winning. Withdraw your superNumber of units x Daily unit price = Value of your super. Insurance premiums for QSuper Accumulation accounts changed on 1 July 2023. 5% to 6% of her balance due to the end of the temporary reduction in minimum withdrawals and her 75. Download . Your Police account remains open until you are no longer employed as a Police officer, or you decide to transfer to another type of QSuper account. Taking five simple actions today may help you feel more in control of your future. QSuper account, it's important to lodge a Notice . Give this completed form to your new employer so they can contribute to your QSuper account. qld. More reasons to feel good. Up to the automatic acceptance limit. Orders that are placed for a term deposit before the cut off time (AEST 3. Lump sum withdrawals are generally not available for Accumulation unless retired or early access (e. Or call us on on 1300 360 750 and we’ll send you a copy. Keeping track of your super is one place to start in helping you take control of your financial future. 31 December 2022 5 min read. Keep your personal details up-to-date in Member Online and check your super balance today. Default option for members with an Accumulation account who have not made an investment choice. Keep in mind the way you spend money at the beginning of your retirement is likely to be very different. I have an existing QSuper Accumulation account. Withdraw your super• Through QSuper by completing the attached Accumulation Account Departing Temporary Resident Claim form, or • The quickest way to claim is directly through the Australian Taxation Office (ATO). More reasons to feel good. This balance consists of $350,000 of tax-free components and. Accumulation account Transition to Retirement Income account. QSuper provides insurance cover for when life doesn't go to plan. Our performance. g. Accumulation. Annual reports. 75% of your insured salary which includes a contribution replacement benefit of 12. Download . Manage your Income account. Cash. Complete online Download. Withdraw your super; Seminars and education; Investments Hide. More reasons to feel good. financial hardship, compassionate grounds, terminal medical condition, or total and. Other important information is contained in the Accumulation Account Guide and Investment Choice Guide, which also form part of the PDS. Find out more about your insurance and COVID-19. Award-winning Money magazine’s Best Retirement Innovator. Deeming and your QSuper account. Ranges. If you need to access your super, we'll ask you for a valid form of identity (ID). Our PDS and range of helpful guides contain everything you need to know about our Accumulation and Income accounts. 100%. View the detailed list of what this option invests in for Accumulation or Income accounts. Fax 1300 242 070 Website qsuper. 1. Award-winning Money magazine’s Best Retirement Innovator 2023 2. Change how your super is invested, by switching investment options in your Accumulation account. 60 to 64. We're honoured to have received SuperRatings ' 15-year Platinum rating. Defined Benefit Account Guide (including Deferred. This minimum balance will apply unless you are withdrawing all of your funds and closing your account, or if you have money in Self Invest. Retirement accounts. You won’t be able to withdraw the amount if you don’t meet a condition of release. Withdraw your super; Seminars and education. There are also tax advantages to super, making it one of the most tax-effective ways. 1. Amount $ , ,Open a QSuper account. To keep Self Invest open, you need a minimum of $10,000 invested in one or more of the other QSuper investment options through your QSuper Accumulation account when you make a lump sum withdrawal. If you have a Defined Benefit account and are under age 55, your beneficiaries will be paid your projected benefit to age 55. Assess the suitability of the product for your client. There are a few situations where you can withdraw some or all of your super before you reach a certain age or retire, if you need it. QSuper returns are driven by our investment approach that aims to provide consistent growth over the long term with less risk. We’d love to hear from you. Her annual minimum withdrawal will increase from 2. They don't have to wait until age 25 and over. au Fax 1300 242 070 Website qsuper. 00pm AEST. Statement for Income Account and Lifetime Pension for more information. Withdraw your super;. Start or Change Regular Contributions to Your Super. it to a QSuper Accumulation account. au This form and all QSuper products are issued by Australian Retirement Trust Pty Ltd (ABN 88 010 720 840, AFSL 228975) as trustee for Australian Retirement Trust (ABN 60. If you have a QSuper account with us, you'll still log in through the QSuper website. Accumulation Account Guide About QSuper’s Accumulation account Welcome to QSuper For over 100 years, QSuper has looked after the people who look after Queensland. Transfer Your Defined Benefit to an. We’ve been named Fund Manager of the Year – Multisector at the 2023 Morningstar Australia Awards. qld. g. 2. Monday to Friday. Manage your Income account. The cost of product assumes a balance of $50,000 at the beginning of the year. Quick, easy investment advice. Our app is designed for members with a QSuper account. You can check the asset allocation for each by selecting the account type. Why you'll love it here. Manage your Income account. Register for Member Online and keep track of your super, download your statements, manage your investments, insurance and more. The Reserve Bank of Australia (RBA) recently cut its official cash rate to a record low of 0. A Retirement Income account can help maximise your savings, with tax-free investment earnings and no tax on payments or withdrawals after you turn 60. This minimum balance will apply unless you are withdrawing all of your funds and closing your account, or if you have money in Self Invest. 6. Transfer most of the money I have with QSuper (including my defined benefit, if applicable) to an Income account, but leave the following amount in my Accumulation account (minimum of $10,000). 1300 360 750. If you don't have a QSuper account, you can apply to join QSuper online if your spouse has a QSuper account. Important information You should consider the information contained in this guide, the Product Disclosure Statement for AccumulationView the detailed list of what this option invests in. QSuper Accumulation account when you make a lump sum withdrawal. 6. Why retire with QSuper. Award-winning. 2. QSuper account holders are now. A super withdrawal due to financial hardship is paid and taxed as. This minimum balance will apply unless you are withdrawing all of your funds and closing your account, or if you have money in Self Invest. Consider the TMD parameters when recommending QSuper products. Application form contained within the PDS for our Accumulation account. Voluntary contributions are projected as part of the Accumulation account. Based on the Balanced investment option. Your minimum payment amount is a percentage of your Income account balance as at. There are a number of reasons why you may decide to wind up your self-managed super fund (SMSF) and transfer your money to QSuper. Past performance is not a reliable indicator of future performance. g. X Option 1 – Withdraw part of my account in cash. We're awarded for providing value for our members, from your working life through to enjoying retirement. You may also be eligible to claim a tax deduction. 3. To keep Self Invest open, you need a minimum of $10,000 invested in one or more of the other QSuper investment options. QSuper returns are driven by our investment approach that aims to provide consistent growth over the long term with less risk. au/forms. gov. Simply log in to Member Online or download the QSuper app, to. This minimum balance will apply unless you are withdrawing all of your funds and closing your account, or if you have money in Self Invest. Change payment frequency and amount. 2. We pay this to your QSuper Accumulation account while you’re getting an income protection benefit. 00am to 6. Your QSuper journey starts now. keep a minimum account balance of $10,000 if you wish to keep an Accumulation account open. The administration fees members pay from their QSuper Accumulation account(s) and Income account(s), and those that are deducted from the Lifetime Pension pool, are proposed be reduced from 0. Monday to Friday. Regular income payments. 2. Other details. The reduction ends on 30 June 2023. Accumulation account Transition to Retirement Income account. Last name. You can open a Retirement Income account and/or Lifetime Pension by transferring some or all of your money from your Super Savings Accumulation account. 25%. You can withdraw from accumulation if you have met. Why QSuper? A focus on long-term performance. Take your QSuper account with you when you change jobs by giving your new employer your QSuper details. Centrelink's income and assets tests for the Age Pension treat an Income account and a Lifetime Pension differently. If you are under 60 years of age, tax may apply on any withdrawals depending on your age, and the tax-free and taxable components of your superannuation. Withdraw your super; Seminars and education;. $110,000 per year. Our award-winning Retirement Income account lets you pay yourself a regular income from your super once you finish work, with the balance invested. Past performance is not a reliable indicator of future. Lifetime Pension Why QSuper? A focus on long-term performance. A multiple of 0. The government counts your Retirement Income account as a financial asset (although there are some exemptions). Use this form if you're at your preservation age and want to withdraw some super. Police account until age 55 or transfer it to a QSuper Accumulation account. How those changes might impact you depends on your age, cover amount and employment details (including occupational rating). . 15% per annum from 1 July 2022. Super. Eddie has just retired from work and has no intention of returning to full-time or part-time work ever again. This account provides tax-free investment earnings,. financial hardship, compassionate grounds, terminal medical condition, or total and. 3 Increase your account balance or make a contribution. Before rolling your super over, you should check what fees your other super fund charges, and whether you would lose any benefits, such as insurance or pension options. Phone 1300 360 750. Why QSuper? A focus on long-term performance. Lump sum withdrawals are generally not available for Accumulation unless retired or early access (e. Just as you may keep track of your bank accounts, you can also keep track of your super account. under age 55 and have resigned and choose to transfer your State or Police account to your QSuper Accumulation account, your benefit is preserved, which means you can’t withdraw any of it as cash until you retire. To keep Self Invest open, you need a minimum of $10,000 invested in one or more of the other QSuper investment options through your Option 1 – Open a QSuper Accumulation account You can elect to transfer your benefit to an Accumulation account. The graph shown above is based on unit prices, which are net of fees and taxes. Why retire with QSuper. 00pm AEST. decide to withdraw your benefit as a lump sum, we will pay it into your nominated Australian bank, credit union, or building society account. Grow your super Salary sacrifice Super co-contribution Voluntary contributions. To make sure you get the government's matching co-contribution, you need to: Make an after-tax contribution (add money from your bank to your super) or standard member contribution; Earn less than $58,445 total in 2023-24 1, and 10% of your income must come from your employers and/or running your. Option 1 – Claim through QSuper. If you have money in Self Invest, you need to keep a minimum of $10,000 (Accumulation accounts) or at least 13 months’ worth of income payments. You'll need to do this before you open your Lifetime Pension. Keep your personal details up-to-date in Member Online and check your super balance today. Object moved to here. Make a Withdrawal from an Accumulation Account. For Accumulation account This document also forms part of the QSuper Product Disclosure Statement for Accumulation Account. Make a Withdrawal from an Accumulation Account. You can access your super as long as you've permanently retired. These terms and conditions apply to QSuper Member Online and the QSuper app ('Member Online'), and your use of and access to these services. gov. There is no maximum withdrawal limit if you have a Retirement Income account, so you can get any amount, up to the total balance of your account. Explore ways to personalise your QSuper. The administration fees members pay from their QSuper Accumulation account(s) and Income account(s), and those that are deducted from the Lifetime Pension pool, are proposed be reduced from 0. To keep Self Invest open, you need a minimum of $10,000 invested in one or more of the other QSuper investment options through yourAs a QSuper member, you have access to financial advisers who can help you make a retirement plan right now. 3. Withdraw your superIf you are withdrawing your total Accumulation account balance, and would like to keep your QSuper Accumulation account open, you can choose to keep a balance of $100. A Retirement Income account can help maximise your savings, with tax-free investment earnings and no tax on payments or withdrawals after you turn 60. From 1 July 2017 investment earnings are no longer tax free, so are the same as those in the Accumulation account. The members must have received money from an expired fund member after the first of July 2016. In the event the Trustee suspends unit prices on any or all. QSuper Product Disclosure Statement for Income Account and Lifetime Pension (pdf) Understand the features, benefits, and risks before opening one of our retirement products. If you do want to switch investments, it's easiest and quickest to do this online. your Accumulation account and wait until all your money is . Proof of identity. For disability payouts, it depends whether you take a lump sum or income payments. Use this form if you want to close your Defined Benefit account and transfer your funds into an Accumulation account. Our award-winning Retirement Income account is an account-based pension that turns your super into income payments and offers several tax benefits. To keep Self Invest open, you need a minimum of $10,000 invested in one or more of the other QSuper investment options through your QSuper Accumulation account when you make a lump sum withdrawal. au/pds. qld. Returns shown are based on disclosed unit prices and are compound annualised return, net of fees and tax. • Eligible to open a QSuper Accumulation account (refer to the Target Market Determination for the QSuper Accumulation account). From 1 July 2017 investment earnings are no longer tax free, so are the same as those in the Accumulation account. 00pm AEST. You will need to keep a minimum of $10,000 in your . 7. What does the QSuper and Sunsuper merger mean for members' accounts? Read answers to commonly asked questions about the merger. 15% per annum. • Withdraw your benefit as cash. Use this form to rollover some or all of your QSuper Accumulation or Income account to another super fund or SMSF. Accumulation account; Transition to Retirement Income account; Retirement Income account ; Lifetime PensionComplete this form if you want to make either a lump sum withdrawal from your Income account, or transfer funds from your Retirement Income account or Transition to. 4. accounts in your name so that you receive all your super benefits when you retire. 1. If you are transitioning from the accumulation phase to the retirement phase, there is a limit on how much you can. Tell us how you want to invest your. Choose your payment amount and frequency. Language assistance. Super. While term deposits generally can't be broken, you may be granted access to withdraw or transfer your super due to special circumstances. 9% for the Lifecycle option's Balanced Pool, and 11. 2. Before completing this claim form, please read the Use this form to withdraw money from your QSuper Accumulation account and choose how to withdraw from your investment options. Please note you are unable to consolidate Lifetime Pensions. Use this form if you're at your preservation age and want to withdraw some super. With the ability to make withdrawals when you need to, it gives you the flexibility and confidence to enjoy the life you want after work. To get a more accurate projection, please complete the details below. 15% contributions tax. We then know how much tax to withhold from your payments. • Eligible to open a QSuper Accumulation account (refer to the Target Market Determination for the QSuper Accumulation account). • I understand that any money I add to this account will be automatically invested in the QSuper Lifetime investment option unless I made another decision in section 2 of this form. it to a QSuper Accumulation account. More reasons to feel good. Retirement accounts . 2. We're honoured to have received SuperRatings ' 15-year Platinum rating. Lump sum withdrawals are generally not available for Accumulation unless retired or early access (e. It's a type of account-based pension or retirement income stream specifically for people under 65 years old. If your super balance is more than $5,000, you will . Applications from outside1. 1. • Through QSuper by completing the attached Accumulation Account Departing Temporary Resident Claim form, or • The quickest way to claim is directly through the Australian Taxation Office (ATO). Assumes no withdrawals, no switching and no insurance premiums. Due to required maintenance, QSuper Member Online will be unavailable from 10:00pm, Monday, 13th November until 12:00am, Tuesday, 14th November. Factsheets. Refer to the Financial Services Guide (pdf) for more information. They don't have to wait until age 25 and over. Use this form to withdraw money from your QSuper Accumulation account and choose how to withdraw from your investment options. 68% for the December quarter and -4. Withdrawals from Accumulation accounts are generally processed within 7 working days of receiving a completed application and Income account withdrawals are processed within 3 working days. This is the amount that is charged to a member’s account. The information in this document forms part of the QSuper Product Disclosure Statement for Accumulation Account (PDS) issued on 1 March 2021, as the PDS references information that you will find in this guide. Find out. You may be able to do this by having an QSuper Accumulation account open for contributions, while supplementing your reduced income with payments from your QSuper Transition to Retirement Income account. So that you can see how your savings are tracking over time, we have also included a graph showing your account balance as at 30 June for the last five. Each of our options has a different objective, risk profile, and asset allocation. Mon-Fri 8. Use our calculators to plan your retirement, find out how to grow your super, and understand your insurance needs. Proof of identity. 2. The Chant West data is based on information provided by third parties that is believed to be accurate at 30 June 2019.