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The information and material on this website is to assist you to gain a broad understanding of superannuation and other general financial matters, is provided for general information only, and has been prepared without taking into account your particular financial needs, circumstances and objectives.  You should not rely on any information or material on this website, and before making any investment decision we recommend that you consider whether it is appropriate to your situation and seek appropriate financial, taxation and legal advice.

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Home Over 55 GuildPension FAQs

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GuildPension FAQs

How do I join?

Complete the Member Application form located in the Product Disclosure Statement.  Please note: A certified copy of a licence or passport showing your picture and signature must accompany your application.

How much super do I need to open a pension?

You need a minimum investment of $10,000 to open a GuildPension account.  You can rollover all or part of your current super benefit from your current super fund(s) into your pension account before your pension is calculated.

Can I rollover other super funds into GuildPension?

You can rollover benefits that you hold in any super fund(s) ito GuildPension to open an account.  To do this, complete the Rollover form and submit to us with your Member Application form and we will arrange the rollover for you and open your account.  Please note, your pension will not commence until GuildPension has received all your nominated rollovers.

Can I put extra funds into my pension?

Once a GuildPension account has been established, no further deposits can go into it.  Any further monies will need to go to establishing a new GuildPension account.

How do I know when my member account has been opened?

Your Account details, such as your name, address and member number will be confirmed to you in a welcome letter.

How do I withdraw my benefit?

Eligible members can request a lump sum withdrawal of $1,000 or more at any time subject to preservation rules.  To request a lump sum withdrawal you can complete a Benefit Payment form.  You can mail or fax the form back to us.

You will be required to provide us with a certified copy of your licence or passport showing your picture and signature with each payment request.

The Trustee will endeavour to process your benefit request as soon as possible, although superannuation law allows for up to 30 days from the day the Trustee receives all necessary information.

How long will my pension last?

Your pension payments are not guaranteed for life.  The amount of time your pension payments will continue will depend on a number of factors, such as the size of your initial balance, the amount you withdraw each year, fees and charges and the investment earnings you receive.

Pension payments will continue until your account balance reaches zero.

How are payments made?

Pension payments are deducted in proportion to the taxable and tax-free components of your account.

If you have invested in different investment portfolios you may select the portfolio from which your pension payment is withdrawn by completing Section 4 on the Member Application form e.g. you may wish to invest part of your pension in a growth portfolio and a conservative portfolio and select to have your pension payment from the conservative portfolio.

When will I receive my pension payments?

You can elect to receive your pension payment:

  • twice monthly
  • monthly
  • quarterly (March, June, September and December)
  • half-yearly (June and December), or
  • yearly (June).

Pension payments will generally be made to your nominated bank, building society or credit union account by the 24th day of the month.  If you do not nominate a pension payment frequency, your pension will be paid monthly.  If you nominate twice monthly your payments will generally be made by the 10th and the 24th of the month.

You can change your payment frequency by advising GuildPension in writing.  Changes to payments must be received 15 days prior to the pension payment date.