Products & services

Our main focus is to help you build a better future in the lead up to, and in, retirement. As a Plum Super member, you have exclusive access to Plum Retirement Income, an account based pension to help fund the lifestyle you want in retirement.

Plum Retirement Income is a simple and flexible account-based pension. 

How Plum Retirement Income works

Plum Retirement Income is an account based pension that provides you with a simple and flexible way to convert your super into a regular, tax-effective income when you retire, or when you transition into retirement. 

Commencement of your pension

Your money is invested in accordance with your chosen investment strategy. The balance of your account will increase or decrease reflecting investment earnings, pension payments, fees and costs, and any taxes payable. As your account balance changes over time, the amount of your pension payments may vary. 

Plum Retirement Income makes it easier for you to enjoy your retirement by offering a simple and flexible income stream. Plum Retirement Income can be established under both transition to retirement (TTR) or normal conditions of release rules. As a Plum Retirement Income account holder you will enjoy:

  • regular pension payments made directly into your nominated bank account
  • the flexibility to withdraw all or part of your balance at any time (if eligible)
  • your choice of investment options and the ability to switch your investments at any time
  • the ability to make a reversionary, binding, or non-binding beneficiary nomination
  • access to financial advice services
  • online access half-yearly pension benefit statements
  • access to annual tax and Pay As You Go (PAYG) statements where applicable.
 

Five investment choices

With Plum Retirement Income, you put your pension balance to work by choosing one or a combination of five investment options, to suit your risk appetite. The investments are managed by Jana Investment Advisors, one of Australia’s most highly-regarded investment consultants.

“Choose from five investment options to suit your risk appetite.”

 

 

Joining is easy

Plum Retirement Income is available to existing Plum Super members who have reached preservation age, with a superannuation account balance of at least $50,000 and wish to establish an account-based pension or transition to retirement pension.

How to join the Plum Retirement Income

Step 1: Read the Product Disclosure Statement which includes all the details about the product. You can access a copy here or call us on 1300 55 7586 and we will post you a copy.

Step 2: Complete the Application form either online by logging into your account or printing a form here.

Depending on your eligibility, the Application form allows you to:

  • choose if you wish to have all or part of your super benefit converted to a pension
  • consolidate and contribute to your super prior to starting your pension
  • choose the amount of your regular pension payment (subject to limits set out in legislation)
  • select an investment option(s) 
  • nominate a beneficiary in the event of your death.
Step 3: Complete a Tax File Number Declaration (TFN) form if you are commencing a pension and are under 60 years of age.
You can call us on 1300 55 7586 or visit www.ato.gov.au for a copy of this form.

Defined Benefit members

If you’re a Defined Benefit member, you can use the money in your accumulation account to purchase an account-based pension. If you’d like to transfer more than the money in your accumulation account, depending on the benefit design of your employer plan you may be able to transfer your Defined Benefit to an accumulation benefit to open the Plum TTR or account-based pension.

Please contact us for more information or speak to a licenced financial adviser.

Need help:

Before commencing a pension you should consider whether the product is appropriate for your needs. You can contact us for help about your Pension. We can provide you with online and phone-based general advice on a range of pension strategies. If you would like comprehensive financial advice, you can access personal face-to-face advice via a licensed financial adviser. To access these services, call us on 1300 55 7586. A licenced financial adviser may be able to:

  • help you understand your financial commitments (both current and on-going).
  • advise you on how to optimise your taxation position.
  • advise you about the impact on any social security (Centrelink) payments.
  • tell you about all the income options available to you.
  • guide you through the application process and help you complete the relevant forms.
  • advise you on how to combine all your superannuation benefits before starting a Plum Retirement Income account.
  • help you structure your account and choose the right investment strategy to suit your needs.

Next steps

  • Find out more about our financial advice offer
  • Contact an adviser
  • Contact us on 1300 55 7586 or if calling from outside of Australia call +61 3 9222 4800