QSuper is always looking for new ways to help you get a brighter future. And that’s exactly what our industry-first Income account Transfer Bonus could give you.
When you open a standard QSuper Income account with money from your QSuper Accumulation or Transition to Retirement Income account you could get a potential boost to your super balance. It’s just another reason to stay with the Fund of the Year1 for life!
Essentially it’s money we previously set aside to pay capital gains tax on your investments that we no longer need to pay when you move your money into a tax-free standard QSuper Income account.
You won’t need to do anything to apply for the Transfer Bonus, it’s automatically added to your Accumulation account when you open a standard Income account.
In fact, all investment earnings whether income or capital gains are exempt from paying tax in the pension phase.
This means, when a member transfers money from their Accumulation account into an Income account, their investment assets are being transferred into a tax-free environment. As a result, no capital gains tax is paid when these investment assets are sold.
The investment options you’re invested in affect the amount of bonus you may receive as some assets attract a higher bonus than others. Any money in the Cash and Diversified Bonds investment options don’t qualify for the transfer bonus. Also, any money invested in QSuper Self Invest doesn’t attract a bonus either because you’re already benefiting from the ability to move your assets across to an Income account without having to pay capital gains tax.
It’s important to note that as the calculation is historically based, if you haven’t been a member of QSuper for more than two months, your amount will be zero.
If you’re thinking about retiring soon, get in touch with us to find out how much your Transfer Bonus could be and start making a plan for your future.
1. QSuper was named SuperRatings Fund of the Year at the 2017 SuperRatings Awards. SuperRatings does not issue, sell, guarantee or underwrite this product.
Past performance is not a reliable indicator of future performance.