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Before you start your pension application
You can only open a Mercer SmartRetirement Income pension account using funds from your Mercer Super account.
If you wish to use money from more than one super account, you will need to combine them into your Mercer Super account before starting the application process.
Once you open a pension account, you cannot add any new money to it.
You can combine all your super by logging into your Mercer Super online account and selecting "Find My Super" from the drop-down menu.
Before you decide to combine your super, you should carefully consider how this may impact your existing insurance cover, contributions, and tax arrangements.
Frequently asked questions
What do I need to complete the digital application form?
Your bank account details where you want your regular pension payments to be made.
Two forms of identity from the below list:
- Australian passport,
- Australian driver's licence,
- Medicare card
- Services Australia – Centrelink card
- Australian visa – Foreign passport
- Australian Citizenship Certificate
What information do I need to have?
Your Mercer Super login details and read the information in the Mercer SmartRetirement Income product disclosure documents
What decisions do I need to make?
You will need to make a few key decisions when completing your application:
- Which type of pension account you want to start - Allocated Pension or Transition to Retirement
- How you’d like to start your pension account – Smart Bundle or customise your own account options
- How much you want to transfer from your super account - full balance or a partial amount
If you do not choose the Smart Bundle option, you will need to make additional decisions such as:
- How often you want to receive payments
- How much you want each payment to be
- Where you want your money invested
Can I transfer money from outside of my Mercer Super account when completing the online application?
The online pension application can only transfer money from your current Mercer Super account. If you have money outside of Mercer Super that you want included in your Mercer SmartRetirement Income account, you should consider first combining them into your Mercer Super account before starting your pension account as you can’t do this once your pension account is already open.
You can also use the paper form to start a Mercer SmartRetirement Income account which allows you to enter other super funds that you wish to transfer into your new pension account.
Do I have to complete my application online?
While it is easier to complete your application online, we also have a paper form that you can complete and send back if you'd prefer. You can find the application form here
How long will it take to complete an application online?
If you have all the information ready and choose the smart bundle option or keep your current investment options, the application should take around 15-20 minutes to complete. If you choose new investment options and/or a customised draw down strategy, it could take longer to complete due to the customised selections.
Can I save my application and return to it later?
Yes. You can leave and return to the application at any time.
Where can I get help to complete my application?
Call Helpline on 1800 671 369 or +61 3 8306 0906 if calling from overseas for any help completing the application form. You might want to consider speaking to a financial adviser if you need to discuss your personal circumstances and what’s right for you.
Do I need to complete the Eligibility Check to open a Mercer SmartRetirement Income Product?
Yes. Members must meet one of the age or work-based eligibility checks to open a Mercer SmartRetirement Income Product.
Do I need to complete the Identity Verification to start a Mercer SmartRetirement Income product?
Yes. Members must complete the Identity Verification before we can start a Mercer SmartRetirement Income Product for you. You can do this electronically as part of the online application or in writing. Please note that pension payment cannot commence until your identity has been verified. Refer to the Completing Proof of Identity flyer for instructions on what you need to provide to have your identity verified.
Is there any limit on how much I can transfer from my super account to a pension account?
There is a limit (Transfer Balance Cap) on the amount of money you can transfer into the retirement phase of superannuation. If you exceed the Transfer Balance Cap you will be required to remove the excess and may be liable for additional tax. Further information is available on the ATO website, ato.gov.au.
If you wish to keep your Mercer Super accumulation account open, there may be a minimum balance you need to leave in your Mercer Super account. Refer to your Mercer Super PDS to check if your Mercer Super account has a minimum balance at mercersuper.com.au/pds.
Will my Mercer Super account be closed if I transfer to a Mercer SmartRetirement Income Product?
If you transfer the full amount in your Mercer Super account into a pension account, your Mercer Super account will be closed.
This means you will no longer be able to receive employer contributions or make personal contributions into you Mercer Super account. Any insurance cover that you had with your Mercer Super account will be cancelled (unless you are able to apply for a continuation of insurance outside of super).
Do I need to choose new investments for my Mercer SmartRetirement Income account?
In most cases you can retain the same investments you have in your Mercer Super. If the exact options aren’t available, we will select a new investment for you that is closely aligned to how you’re currently invested.
You can also choose to select new investments for your Mercer SmartRetirement Income Product.
How often will I receive pension payments from my Mercer SmartRetirement Income account?
You can select the frequency of your pension payments from the available options: Twice-Monthly, Monthly, Quarterly, Half-Yearly or Annually. Pension payments are made on, or around fixed dates based on the frequency you have chosen. If a scheduled payment date falls on a weekend or a Melbourne or Australian national public holiday, we will generally make the payment on the business day before the scheduled date.
When will my pension payments commence?
Your pension payments will commence on the first available payment date after your account has been set up. You need to provide Mercer Super with all the necessary information to start your pension account at least 7 days before your first payment date.
Can I get my pension payments indexed so that they increase each year automatically?
If you have chosen a Nominated Dollar Amount for your pension payment, you can choose to have this amount automatically increase each year in line with the Consumer Price Index (CPI Indexation).
Why must my nominated bank account be in my name or joint names?
Customers are required to nominate an account in their name as a security measure designed to protect their privacy and pension payments.
Before we get started, let’s check that your:
Contact details are up to date and,
Your tax file number (TFN) has been provided.
Here’s what you’ll need to set up your account:
The bank account details where you want your regular income payments to be made.
Two forms of identity from the below list:
- Australian passport
Australian passport
Passport needs to be valid or expired less than two years.
- Australian driver's licence,
- Medicare card
- Services Australia – Centrelink card
- Australian visa – Foreign passport
- Australian Citizenship Certificate
A Mercer Super account with at least a $10,000 account balance (the minimum balance to open a Mercer Smart Retirement Income account)
Some good things to know
- If you have all the information ready, the application should take around 15-20 minutes to complete.
- You can save and exit the application at any time and come back to it when you’re ready.
Welcome back, #Firstname
Lets pick up where we left off.
Previously selected pension status has changed, kindly review your changes once
Previously selected fund pension status has changed, kindly review your changes once
Eligibility Check
Save and exitPlease select which of the below situations best describes you:
*If one of the asterisked (*) conditions applies to you above, you cannot apply to open a TTR allocated pension.
Select your retirement journey
Save and exitBased on your selection, you have the below options available
Need help? Read our FAQs for details on Mercer SmartRetirement Income products.
Please select a suitable option
Please confirm you are an Australian/New Zealand citizen, or permanent resident of Australia.
Identity check
Before we can start your Mercer SmartRetirement Income account, we need to verify your identity. To do this, you will be asked to provide two of the following forms of IDs :
Your Driver's licence details will be submitted to the Australian Government’s Document Verification Service (DVS). The DVS is a national online system that allows organisations to compare an individual’s identifying information with a government record. More information is available on the DVS website.
Locked out user please check on the checkbox and continue.
The name and date of birth (DOB) registered on your Mercer Super account must match your documents.
Your details with us are:
#GivenNames
#DOB
Details don’t match?
If your registered details don’t match your IDs, you’ll need to complete and return the Update your personal details form before continuing.
Once you’ve submitted the form, it can take up to three days for your updated details to show.
I confirm that I am authorised to provide the personal details presented and I consent to my information being checked with the document issuer or official record holder via GreenID electronic verification service (provided by GreenID) for the purpose of confirming my identity.
Unfortunately we are unable to verify your identification online. However, you can continue the online application process and mail your certified identification at a later date.
For more information on certifying your identification, please read the Completing proof of identity factsheet.
Your identity has been verified. Please click the ‘continue’ button to proceed.
There was a problem verifying your identity using the information you provided. Please check the details you’ve provided are correct and try again. Alternatively, please select another primary form of identification
Unfortunately we are still unable to verify your identity. Please check the details you’ve provided are correct and try again. Alternatively, please select another primary form of identification.
We’ve been able to use your first document. Please select your second identification document to complete verification.
Transfer money to your pension account
Save and exitChoose how much money you would like to transfer into your new pension account and from which of your Mercer Super accounts.
Your initial transfer amount must be at least $10,000.
Have money outside of Mercer Super that you want to transfer?
You will need to combine all the funds you intend to use into your Mercer Super account first, before starting a Mercer SmartRetirement Income pension. Once you open a pension account, you cannot add any new money, unless you open a new pension account.
There is a limit (Transfer Balance Cap) on the amount of money you can transfer into the Retirement Phase of superannuation. If you exceed the Transfer Balance Cap you will be required to remove the excess and may be liable for additional tax. You can find more information by visiting ato.gov.au
Need help? Read our FAQs for details on the implications of withdrawing from your super account.
Please select a suitable option
Please make sure you have finalised any tax deductions you intend to claim for any personal contributions made with your super fund this financial year and any contribution splits from your super account.
Please be aware that your super account will be closed and as a result any insurance you have in that account will be cancelled.
There is a limit or ‘transfer balance cap’ on the amount of money you can transfer into a pension account. Currently, the transfer balance cap is between $1.6M - $1.7M and if you exceed this amount there may be tax implications. For information visit the ATO website.
Account set up
Save and exitThanks for confirming your details, now let's get your pension account started.
We’ve made setting up your pension easier, with Smart Bundle. It is designed to take the hassle out of starting a pension.
While Smart Bundle is designed to make your application and pension set-up as easy as possible, we understand that circumstances change. That’s why you have the flexibility to make changes to your account at any time, online.
Please select a suitable option
Investment Strategy
Save and exitSelecting investment options to grow your pension
We’re here to help maximise the growth of your pension balance by continuing to have your money invested. Let us know how you would like this to be done.
Need help? Read our FAQs for details on our investment options.
Please select a suitable option
Your pension will be paid in the same percentage as the investments you currently hold unless you amend this later online.
Pension payments
Save and exitSelect how often you would like your pension paid
If you request to receive Twice Monthly pension payments, your payments will likely be made on the 8th and 22nd of each month. The money will appear in your bank account within 1-3 business days, depending on your bank.
Pension payments are made on or around fixed dates, based on the frequency you have chosen. If a scheduled payment date falls on a weekend or a Victorian or Australian national public holiday, we will generally make the payment on the business day before the scheduled date.
Income payments will be made from your Mercer SmartRetirement Income account directly to your nominated bank account. Payments must be made into a bank account held in your name or a joint account that includes your name. Your pension payments will commence on the first available payment date after your pension account has been set up. You need to provide Mercer Super with all the necessary information to start your pension account, at least 7 days before your first payment date.
Not sure how much you will need each month? Click here to access the Retirement Income Simulator to help you decide.
I’d like to receive my pension payments as follows
I would like to receive my annual pension payment amount as follows (select one option): is required
The amounts shown are estimates only. Allocated pension accounts are subject to annual minimum pension payments set by the government which are based on your age and account balance at the date you start the pension, or at 30 June each year.
If you are under the age of 60, any pension payments or lump sum withdrawals paid from your account may be subject to tax. If you are over the age of 60 all pension payment and lump sum withdrawals are tax-free. For further information please see the ATO’s website.
I would like my pension payments to increase each year with inflation (based on movement in the Consumer Price Index - CPI)
I would like a copy of my Centrelink schedule to be emailed to me.
Your Bank Account
Save and exitPlease enter the bank account details where you’d like to receive your pension payments. Note, the bank account must be in your name or a joint account that includes your name. Learn why in our FAQs.
Beneficiary details
Save and exitLet us know who should receive your money if something were to happen to you.
Please select any one option
Nominating a reversionary beneficiary
Pension amount
Date
Review and submit
Save and exitPlease review and ensure the details below are correct. Once submitted, you are unable to make changes
We recommend you print or email this page for your records.
We recommend you print or email this page for your records.
Payment Amount
The minimum annual pension amount (and maximum amount for a TTR) is quoted based on the amount you have requested to transfer from your super account. If the amount received is different (for example, as a result of market movements between this application and the withdrawal), your minimum (and maximum) annual amount may be different.
Eligibility check
Edit| Declaration | |
|---|---|
| Preservation Status |
Identity check
EditYou have completed the identity check.
You still need to be identified before you can start receiving pension payments. Please call 1800 671 369
Fund your pension
Edit| Transfer option | |
|---|---|
| Amount | |
| Declaration | |
| Warning |
Investment strategy
Edit| How your pension will be invested | |
|---|---|
| Investment Allocation |
Pension payments
Edit| Payment frequency | |
|---|---|
| Payment option | |
| Payment amount |
Bank details
Edit| Bank BSB | |
|---|---|
| Account number | |
| Account holder's name |
Beneficiaries details
Edit| Beneficiary type | |
|---|---|
| Name of beneficiary | |
| Relationship to you | |
| Date of birth |
One final step
Before submitting this application, you should read and understand the Product Disclosure Statement (and its incorporated documents) for Mercer SmartRetirement Income, and the Financial Services Guide.
You can obtain a copy of the Product Disclosure Statement (and its incorporated documents) at mercersuper.com.au/pds or contact us.
If the trustee accepts your application for membership, your rights as a member in the Mercer Super Trust will be determined by the provisions of the trust deed of the Mercer Super Trust and designated rules of the Allocated Pension Division which govern the operation of Mercer SmartRetirement Income. You can obtain a copy of these governing rules here mercersuper.com.au/governance, or contact us.
You should consider obtaining professional advice if you are unsure about your application to become a member of Mercer SmartRetirement Income in the Allocated Pension Division of the Mercer Super Trust.
You should contact us if you need any further information.
You can obtain a copy of the Product Disclosure Statement (and its incorporated documents) at mercersuper.com.au/pds or contact us.
If the trustee accepts your application for membership, your rights as a member in the Mercer Super Trust will be determined by the provisions of the trust deed of the Mercer Super Trust and designated rules of the Allocated Pension Division which govern the operation of Mercer SmartRetirement Income. You can obtain a copy of these governing rules here mercersuper.com.au/governance, or contact us.
You should consider obtaining professional advice if you are unsure about your application to become a member of Mercer SmartRetirement Income in the Allocated Pension Division of the Mercer Super Trust.
You should contact us if you need any further information.
- I understand that if I have nominated a reversionary beneficiary in this application, then:
- I have nominated a reversionary beneficiary who meets the definition of dependant.
- my nomination will be invalid if it has not been made correctly, or my nominated beneficiary is no longer an eligible beneficiary at the date of my death, or if my nominated beneficiary is no longer alive at the date of my death.
- the information provided in this form will be used by the trustee to contact my nominated beneficiary to determine if they are still my dependant at the date of my death.
- the nomination in this application revokes any prior reversionary nomination I may have made.
- the reversionary nomination is only effective when received and accepted by the trustee.
- I understand and consent to my information being collected, disclosed and used in the manner set out in the Privacy Policy.
- We collect, use and disclose personal information about you in order to manage your super and pension benefits and give you information about your pension. We may also use it to supply you with information about the other products and services offered by us and our related companies. Download a copy of Mercer's Privacy Policy.
- To submit your application, you must download the Product Disclosure Statement and Financial Serviced Guide below
I agree to receive the Financial Services Guide Financial Services Guide and Product Disclosure Statement and supporting documents electronically
Before submitting your application you must download the Product Disclosure Statement and Financial Services guide, as well as agree to the conditions above.
Issued by Mercer Superannuation (Australia) Limited (MSAL) ABN 79 004 717 533, AFSL 235906. MSAL is the trustee of the Mercer Super Trust, ABN 19 905 422 981. Address: GPO Box 4303, Melbourne Vic 3001. Tel: 1800 671 369. ‘MERCER’ and Mercer SmartPath® are Australian registered trademarks of Mercer (Australia) Pty Ltd ABN 32 005 315 917.
Thank you for choosing Mercer, #Firstname!
First pension amount
Date
What’s next?
- You’ll receive a confirmation email with your application details in the next hour or so.
- It takes about 7 days to create the new account.
- You’ll receive a Welcome letter in the next 7-10 days detailing your account information.
Once your account is created, you can change your pension payment online, anytime.
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Please quote your reference code if you enquire about your application