Financial security and independence in retirement is a key financial goal for many people. We have the solutions and expertise to help you make your retirement comfortable and secure.
At Citibank, we offer you the opportunity to manage your superannuation using a Super Wrap or Super Master Trust Platform, which provides you with consolidated reporting and a convenient way of investing into a wide choice of investments.
You would like access to Super Wrap or Super Master Trust Platforms with:
Access to managed funds at wholesale rates
Comprehensive consolidated reporting
Access to ASX listed securities and some of the highest quality managed funds
Access to funds usually only available to large investors
Term Life and Total Permanent Disability Insurance facility
Online access to investment information
Ability to transfer in existing funds and securities.
Super is not an investment as such, rather it is an “investment vehicle” which allows you to hold investments including shares, property, cash, bonds and international investments. The Federal Government has made super very attractive to use by providing a number of unique tax advantages including:
Some types of contributions are tax deductible for the person or company making the contribution
While your money is invested using a super fund, investment income and capital gains inside the fund are taxed at a maximum rate of 15%
If you are receiving an income stream from a super fund, investment income and capital gains inside the fund are tax exempt
When you receive a payment as a lump sum or an income stream, these payments are concessionally taxed and in some cases are tax free
You and your employer can make contributions into a superannuation account which provides you with:
Significant tax benefits - super is one of the most tax effective investments in Australia and a very effective way of maintaining wealth and generating income in retirement.
Better ways to save more for retirement such as salary sacrifice or spouse contributions.
Over time, money placed into a superannuation account builds for your retirement. When you retire, you can access your superannuation savings in a number of ways:
Lump sum payment - At retirement you may decide to receive your benefit as a single payment, by cashing in your superannuation fund and investing the proceeds on your own account to provide your retirement income.
Superannuation Income Stream
A superannuation income stream can provide you with:
A tax effective income stream
Flexible level of pension payments available
Ability to withdraw lump sums
Flexible choice of investments
You may decide to receive a superannuation income stream, often referred to as a superannuation pension. This can help you to generate a flexible and tax effective income stream during retirement.
The type of superannuation income stream that is suitable for you, will depend on a range of factors including your age, the amount of money you have to invest and your ability to tolerate investment risk.
