Tasmanian Accumulation Scheme - SuperFacts.com

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More information on your investment options can be obtained by visiting the RBF websitewww.rbf.com.au, or requesting information directly from RBF.What if I recommence employment in the Tasmanian public sector?If you recommence employment in the Tasmanian public sector, you will again become amember of TAS unless you elect to join another superannuation fund. *Your Death andIncapacity cover will recommence at the basic level of 100% once your first SuperannuationGuarantee (SG) contribution is received by TAS.*Conditions applyWhat are the components of my resignation benefit?Your resignation benefit will be made up of the following components.Accessible amount (unrestricted non preserved) – The accessible amount will remain inyour TAS account, allowing it to accrue investment earnings and grow for your retirement. Youhave the option of requesting a cash withdrawal from this component at any time. This amountcan also be rolled over to another superannuation fund.It should be noted that taxation payable is calculated at a higher rate on cash withdrawals madeprior to attaining age 60. After age 60, no tax will be payable on this component.Preserved amount – The preserved amount is your employerʼs contributions or your personalcontributions and any investment earnings accrued after 30 June 1999 and generally mustremain in the superannuation environment until you have reached your preservation age andretired from the workforce. Prior to retirement, preserved funds can only be accessed:• in the case of death, permanent incapacity, severe financial hardship or oncompassionate grounds.• by purchasing a non-commutable income stream if you have reached preservation age.You do not need to have retired from the workforce. The RBF Life Pension is a noncommutableincome stream, which means it cannot be converted to a lump sum ata future date.• when used to commence a Transition to Retirement (TTR) income stream.The preserved amount will remain in your TAS account where you can continue to utilise RBFʼsinvestment options to maximise your retirement benefit. The preserved amount can be rolledover to another superannuation fund. This component will become tax exempt when withdrawnafter age 60.Tax file numberIf you have not advised RBF of your tax file number, any cash withdrawal from RBF will betaxed at the highest marginal tax rate. Please check to ensure RBF have a record of yourtax file number.www.rbf.com.auTasmanian Accumulation Scheme – Resignation Benefit Options4
Contacting RBFVisit: www.rbf.com.auPhone: 1800 622 631 or +61 3 8687 1863 (if youʼre calling from overseas)Fax: (03) 9245 5827Write: Reply Paid 446, Hobart TAS 7001Offices:39 Sandy Bay Road, HobartLevel 1, 87 George Street, LauncestonPersonal interviews:Personal interviews available in Hobart, Launceston, Burnie and Devonport, by appointmentonly. To arrange an interview, phone: 1800 622 631Disclaimer:Every care has been taken with the information provided in this document. However, the Retirement Benefits Fund Board reserves the right tocorrect any errors or omissions. If there is a discrepancy between the information contained in this document and RBFʼs governing legislation,the governing legislation will be the final authority. The information contained in this document is not intended as investment advice and theRetirement Benefits Fund Board recommends that readers seek professional advice before making any investment decision.Issued by Retirement Benefits Fund Board ABN 97 724 593 931 as Trustee for Retirement Benefits Fund (RBF) ABN 51 737 334 954.AC/S/00099 (V5-09-07)www.rbf.com.auTasmanian Accumulation Scheme – Resignation Benefit Options5
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Tasmanian Accumulation Scheme - SuperFacts.com

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