As you prepare for your retirement, it’s important that you feel informed and supported.
Perhaps you’re eligible for a Centrelink pension? Or perhaps you’d like to reduce your working hours and slowly move into retirement?
Whatever your situation, we can help you to maximise any eligible payments, minimise your tax obligations and build your superannuation funds.
We’re here to help you make the most of your retirement.
Talk to one of our experienced Oceanic International Bank Wealth Management financial advisers today to work out a retirement plan that works for you.
We believe in prosperity for the many, not the few. That’s why we offer financial planning advice to ensure our customers prosper over the long term.
What type of retirement do you want?
It’s important to plan for your retirement, in all its different stages. Are you planning to travel in your retirement? Perhaps you’d like to start a new hobby? Or buy a new car?
It’s important to think about how you can use your different income streams to fund different stages of your life. Plan for the long term, not just the next five years.
Our experienced financial advisers can help you manage different income streams, including pensions, and get the most out of your money through thoughtful and realistic retirement planning.
How much will you need to retire?
How much you need depends on your preferred lifestyle and future medical costs. Use our handy Retirement Calculator to get a sense of how much superannuation you will need.
The Australian Association of Superannuation Funds of Australia also offers a guide to how much a modest or comfortable retirement lifestyle might cost.
Our experienced financial advisers can help you work out how much you will need, and get you on track for your retirement goals.
What is a transition-to-retirement pension?
A transition-to-retirement pension gives you access to your superannuation as a non-commutable income stream. It’s a regular superannuation payout (not a lump-sum payout) that you can access after reaching preservation age, but while you’re still working.
The aim of a transition-to-retirement pension is to give you more flexibility as you draw closer to retirement. It can also help you to boost your retirement savings.
For example, you may choose to reduce your working hours and, at the same time, access your superannuation. Your superannuation payout would be a transition-to-retirement pension that supplements your other income. It may also allow you to salary sacrifice to give your retirement savings a boost.
You may find a transition-to-retirement pension helpful if you want to:
Reduce your working hours. For example, you may want to cut down to three days per week. Your reduced salary can be topped up to a full-time wage with income from the transition-to-retirement pension.
Salary sacrifice to superannuation. Combining the transition-to-retirement pension with salary sacrificing can help you to create more superannuation savings for your retirement.
It’s a good idea to talk to one of our experienced financial advisers if you’d like to choose a transition-to-retirement pension. The rules and strategies for transition-to-retirement pensions can be very complicated so it’s best to get some advice first.
Maximise your Centrelink entitlements
Need help with your Centrelink entitlements? Our experienced financial advisers understand Centrelink benefits and can help you to understand what pension you’re eligible for. We can also help you with the application process.
You may also want help with strategies to maximise the aged pension through gifting, funeral bonds and the transfer of assets.
We provide assistance with the Seniors Card, pension concessions and the Commonwealth Seniors Health Care Card.
Make the most of your retirement.
Ensure you can enjoy the lifestyle you are used to