Retirement presents both opportunities and challenges.  As you approach retirement, there are a range of issues you should think about. 

Approaching retirement

As you approach retirement, a number of questions arise.  How you will convert your superannuation savings and other investments into income, and what is the best way to manage your investments over the period of your retirement?  This involves deciding when you may spend the money and how to invest the money until it is spent.  Do you plan to live off the investment return and leave the capital to your children, or will you spend both the investment income and the capital over time?  The answers to these will be governed by your income needs and the level of retirement savings you have.  As you think about retirement, it is also a good time to review both your will, your enduring power of attorney and any family trust.

Under SuperLife, you have three main payment options:

1. A cash payment
2. A deferred payment(s) 
3. A managed income 

The option, or combination of options you choose will help you to decide when and how you will receive payment of your benefit.  Taking part of your benefit as a cash payment to meet your immediate needs, and deferring the balance for later makes a lot of sense. Read more about our benefit payment options.

Investing in retirement

When it comes to investing money during your retirement there are a number of additional factors that need to be considered for example, how your goals and income needs may change depending on your age. SuperLife's article on investing in retirement covers all of the factors you need to consider if you are retired, or planning on retiring in the near future. Read more...