IMPORTANT INFORMATION

It is important for you to consider your own personal financial circumstances, objectives and needs (your needs). We do not consider your needs. If you would like someone to help consider your needs before you make a one off pension payment you should speak with a licensed or appropriately authorised financial adviser, to speak with an Equip financial adviser please call us on 1800 682 626.

There are a number of easy steps to consider regarding 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, this will be required in order for your request to be processed. For further information about proving your identity, please visit the Documents & Forms section.

Time to Process Your Request

If we receive a valid instruction from you before 4.00 pm Melbourne time, we will process your one off payment request using the declared unit prices for that day, once known. If we receive your one off payment request after 4.00 pm Melbourne time, we will process your request effective the following business day (and it will be processed using the following business day's declared unit prices). Please note that it may take up to 48 hours for unit prices to be calculated and loaded to the administration system, and your switch request will not be physically processed until that time. Unit prices are not calculated for weekends or Melbourne public holidays.

Confirmation of your request

Your transaction will only be processed if you have received a Receipt Number. If you tried to do an investment switch but you haven’t received a Receipt Number (and wish to make an investment switch) please call us on 1800 682 525.

Your investment switch will become effective once it has been processed by us. You can receive a Confirmation Advice of your investment strategy change.

Your change request will only be applied to the account you are currently logged into. If you have multiple accounts with the Fund, you will need to submit a separate request for each account. You can access your other accounts (if applicable) from the Select account page by logging out and logging back in on our current site.

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 $5000.

·         To pay a superannuation surcharge debt

·         To give effect to a family law payment split

·         To pay an excess contributions tax assessment.

SUBMITTING A REQUEST:

By submitting this request you:

·         Understand 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.

·         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.

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.