Whether you’ve just left the workforce or been retired for a while, your super can continue to grow and work for you.
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You might be retired, but your retirement savings have plenty of work to do yet. Average life expectancies mean we’re living longer in retirement than ever before. So if you want to enjoy a retirement that’s as comfortable as possible, your retirement savings need to be able to go the distance. Here we take a look at some key considerations to help you maximise your savings throughout your retirement.
This page provides information and some key considerations for investing your retirement savings through your retirement. But keep in mind that it’s general information only. For information that’s tailored to your own financial circumstances and objectives, consider getting qualified financial advice.
Even in retirement, we all need different things from our investments.
How long you’re likely to be invested is always a critical factor in helping to determine which investments are right for you.
For many of us, retirement could last for 20-30 years or more. In investment terms, that’s still quite a long time horizon.
While you were younger, a key focus for your super investments was accumulation – simply saving as much as you could and maximising your investment’s potential for growth.
Now that you’ve retired, your investment needs to multitask. It still needs some potential for growth in order to be able to sustain itself and continue to help fund your retirement. But there’s also an increasing need to reduce risk and keep the day-to-day income you draw from your investment relatively shielded from any market volatility.
A relatively higher allocation to income assets (such as cash and fixed interest), to help to protect your portfolio against the impacts of volatility, so you can continue to draw a steady income to help fund your retirement.
The investments that are right for you depend very much on your financial circumstances and what you want from your retirement.
A typical retirement investment may include:
You don’t have to make an investment choice for your Equip Super Retirement Income or Transition to Retirement Income account. If you don’t make an investment choice, we’ll automatically invest your account balance as follows*:
These are ready-made portfolios of investments, selected by the experts, and managed by the experts on your behalf. Capital Stable is single investment option, whereas MyPension invests across three different investment options in varying proportions: Cash, Capital Stable and Growth.
* If you’re in the process of transferring out of an Equip Super Defined Benefit Plan, your transfer letter will explain how your new super account will be invested if you don’t make a choice. Contact us to learn more about your options.
Getting a little support and guidance from the experts can make a big difference when it comes to choosing the right products and investments for your next chapter, so you can make the move to retirement in the way you want to. Our qualified Financial Planners can help.
Retirement isn’t about retiring from life. It’s time to refire, rewire and renew. And while having your finances sorted is certainly important aspect of retirement planning, it’s only part of the picture. Having a clear purpose, building connections with those around you, taking care of your physical and mental health, and looking after your financial wellbeing – they’re all essential ingredients when it comes to getting the most from your next chapter.
Hear from our industry professionals about retirement, investment and how to keep your money growing.
As time passes, your investment objectives may change too. Understanding your attitude to investment risk is a good place start when considering if your investment option is still right for you.
Use our calculators to check if you’re drawing the right amount of income and how long it might last.
Making a binding beneficiary nomination ensures your super, including any insured benefits, goes to the people you want.
Retirement income streams let you turn your super (and other investments and savings) into regular income payments. If you're eligible, the government Age Pension can work alongside these other income sources to provide you with a more comfortable retirement.
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What does your pathway to retirement look like? Not sure where to start? We can help at no extra cost.
If you’ve got questions about when you can retire, or what to do once you get there, our Retirement Centre is here to provide you with personalised one-on-one support. We can:
answer your questions and walk you through your retirement options
provide you with general advice to help you make more confident decisions
connect you with our financial planning services if appropriate.
Call us on 1800 777 060 or use this form to book a time to speak with our team today.
Have a general enquiry? Contact our Helpline.
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