IMPORTANT INFORMATION

This important information is of a general nature only and has been prepared without taking account of your objectives, financial situation or needs. Before acting on this information or making an investment decision about whether to acquire, hold or sell a financial product, you should consider its appropriateness having regard to your objectives, financial situation and needs and read the relevant Product Disclosure Statement available on the EISS Super website or by calling us on 1300 369 901.

There are a number of easy steps to consider regarding a one-off payment from your pension, these are:

  1. Requesting a payment;

  2. Maximum amounts withdrawable;

  3. Proof of identity;

  4. Time for processing your request;

  5. Confirmation of your request;

  6. If you are transitioning to retirement;

  7. Submitting a request

Requesting a payment

You can request lump sum withdrawals from your pension account, in addition to your regular pension payments, at any time.

The lump sum amount requested will be drawn from your investment options in the same proportion as your regular pension payments. The requested amount (net of tax and fees where applicable) will be transferred to the same bank account as your regular pension payments.

Note, some restrictions apply if you have a Transition to Retirement pension. See important information below.

Maximum Amount for Withdrawal

Please note the maximum available amount may not be equal to your total account balance. Please read the important information below for more detail.

Proof of your identity

If you have not previously provided an acceptable certified copy of a document that proves your identity, you will be required to do so in order for your withdrawal to be processed. For further information about proving your identity, please visit the Documents & Forms section.

Confirmation of your request

Your transaction will only be processed if you have received a Receipt Number. If you tried to do a withdrawal but you haven’t received a Receipt Number please call us on 1300 369 901.

Your change will not be visible on this site until it is processed by us.

Transition to Retirement Accounts

If you have a Transition to Retirement account, lump sum withdrawals are only allowed in the following circumstances:

  • To cash any unrestricted non-preserved component of your super account. The minimum amount you can cash of your unrestricted non-preserved amount is $1,000.

  • To pay a superannuation surcharge debt

  • To give effect to a family law payment split

SUBMITTING A REQUEST:

By submitting this request, you:

·         understand the lump sum amount requested will be drawn from your investment options proportionately. This will be in line with your current asset holdings. The requested amount (net of tax and fees where applicable) will be transferred to the same bank account as your regular pension payments.

·         your lump sum payment request may take up to three days to process into your bank account from receipt of the unit price, and may take longer if processing into your Credit Union account. Please allow up to ten business days for your payment from date of request.

If you have already submitted a payment request from your account in the last two weeks, you understand that by submitting this payment request a new lump sum withdrawal request will be created in addition to your existing request. (If you wish to view the status of your existing withdrawal request, see Account Activity).

Privacy Policy

By submitting this request for a one off payment, I understand and consent to my information being collected, disclosed and used in the manner set out in our Privacy Policy.