Once eligible, if you begin to draw an account-based income stream benefit from your RSA, tax is no longer paid on the interest earnings credited to the RSA account-based income stream. This is reflected in a higher rate of interest being credited to the RSA.
Once in the income stream phase, you must receive minimum payments annually. The minimum payments are based on your account balance and government set percentage factors that depend on your age.
An account-based income stream may not provide an income stream for the rest of your life, as it is dependent on the amount of money remaining in the Superfuture RSA income stream account.
Features of our account-based income stream include:
Before you apply...
Remember to read the following important documents:
™Superfuture is the exclusive registered trademark of Police Financial Services Limited (BankVic) Registered Trademark 831100. This advice has been prepared without taking account of your objectives, financial situation or needs. Because of this, before you make any decision to acquire this retirement savings account product you should obtain and consider the relevant Product Disclosure Statement (PDF) available from a BankVic branch, our Financial Planning team or by calling 13 63 73. Our financial planners are members of the Financial Planning Association of Australia and our superannuation professional is a member of the Association of Superannuation Funds of Australia.