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Retirement income streams are investments that provide you with a regular income thereby assisting you to manage your spending patterns whilst you are retired.
Allocated Pensions
An Allocated Pension is an account in which you invest your superannuation savings in exchange for a regular or flexible income. Allocated Pensions typically provide a number of different investment options, which means you may potentially grow the value of your investment at the same time as you generate a tax-advantaged income stream.
What are the advantages of using an Allocated Pension?
- You can choose the amount and frequency of your income payments (within government prescribed limits);
- You can change your income level to suit your changing needs or to keep pace with inflation (within government prescribed limits);
- You can choose where your money is invested;
- You can make withdrawals in addition to your income payments;
- Part of your income payments may be free of PAYG tax (formerly known as PAYE tax);
- You may receive favourable social security treatment.
Tips and traps
- The term of an allocated pension is not guaranteed. You will need financial planning advice to help ensure that the level of income you draw won't exhaust your account too early;
- Your investment returns will be influenced by economic and market conditions. This means your investment can increase or decrease in value.
MLC MasterKey Allocated Pension is an investment that offers a tax efficient, highly flexible way of generating a regular income stream in retirement. View additional information about the MLC MasterKey Allocated Pension.
Want to know more?
Contact your financial planner or arrange an appointment with a NAB financial planner online or call 1300 558 863 between the hours of 8:00am - 8:00pm (Melbourne time, GMT +10), Monday to Friday.
Find out more about MLC Masterkey.
View the National website disclaimer.
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