Account based pensions begin by transferring a lump-sum – usually from your super account – into an account based pension product.
You can select the frequency of payments you receive (minimum of once per year) and how much you wish to withdraw each year.
There are minimum amounts you must withdraw each year, for more information please view pension drawdown requirements.
Your balance will be invested in the investment option(s) you choose and you can withdraw a lump sum at any time.
1. Assumes the pension is commenced from a taxed super fund.
Any advice and information on this website is general only, and has been prepared without taking into account your particular circumstances and needs. Before acting on any advice on this website you should assess or seek advice on whether it is appropriate for your needs, financial situation and investment objectives.
Any general tax information on this website is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.
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MLC Limited uses the MLC brand under licence. MLC Limited is a part of the Nippon Life Insurance Group and not part of the IOOF Group of Companies.