Account based pension funds - formerly known as allocated pensions - are retirement funds that allow you to invest your superannuation savings once you have reached your preservation age and retired. Accounts based pensions will then provide retirement income, paying an ongoing superannuation income stream each year. Retirement income will continue to be paid from the investment until the money runs out and amounts invested are accessible by the investor at any time.

A diverse range of investment options, across all asset classes and from leading fund managers are available in a pension account, with investment earnings completely tax free for those aged over 60. Retail pension accounts typically charge an entry fee of up 5%, regardless of whether you rollover your superannuation account to a pension with the same manager or a different manager. Establish your pension through 2020 DIRECTINVEST for a 100% entry fee rebate of the entry fee.

Account Based Pension Funds 2020 DIRECTINVEST will rebate 100% of the entry fee on virtually any retail account based pension fund in Australia, saving you 4% - 5% when you transition to pension phase.

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Pension Master Trusts Master trusts as pension funds provide a 'one-stop-shop' for your investments. Select from a range of discretionary funds for full control or select one of the multi-manager fund of funds.

Pension Master Trusts How to invest

Professional Advice Retirement planning can be quite complex and technical, and professional advice may be necessary. Paying a professional fee for advice ensures you're not paying ongoing fees that deplete your retirement savings.

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More on Account Based Pension Learn more about pension, how they work, how much they cost, and when you can start an account based pension.

Learn about account based pension Investment basics