If 60 or over and retiring

If you retire at age 60 or over, you may want to use your super to start an income stream investment, rather than take a cash lump sum.

This is because:

• No tax will be payable on earnings within the fund,
• You can receive unlimited tax-free income stream payments, and
• You don't have to include the income payments in your annual tax return, which could reduce the tax payable on your non-super investments.

These tax benefits can enable you to receive a more tax-effective income to meet your living expenses.

This is particularly true if your super benefit is quite large and/or you receive income from non-super investments.

To find out more about income stream investments, speak to a financial adviser.