| Key Features | Personal Superannuation Service | Personal Retirement Service |
|---|---|---|
| Who can invest? | Individuals under 75 years. | Individuals: - aged 55 years or over, not employed permanently and'or working less than 10 hours per week; - aged 55 years or over and still employed (transition to retirement pensions); aged between 60 and 64 years and retired or resigned after turning 60 years; aged 65 years or over; and - permanently incapacitated. |
| Minimum initial contribution | $2,500 | $10,000 |
| Minimum additional contributions | No minimum | Not applicable |
| Minimum Regular Investment Plan | $200 per month | Not applicable |
| Types of contributions accepted | - Concessional contributions - Non-concessional contributions; - Transfers or rollovers from other superannuation funds; - Transitional Employment Termination Payments (refer to the 'Making Contributions' section of the Reference Guide) - Government co-contributions | Generally only superannuation benefits payable from a superannuation fund. |
| Contribution payment options | - BPAY; - Direct credit; - EFT; and Clearing House facilities | Not applicable |
| Automatic Rebalancing | Available | Available |
| Cash Sweep | Available | Available |
| Access to benefits | Unrestricted non-preserved benefits can be withdrawn at any time. All other benefits are subject to regulatory restrictions. | Your pension payments can be paid: - monthly; - quarterly; - half-yearly; or - annually. |
| Minimum withdrawals | No minimum, subject to a minimum balance of $2,500 or $5,000 for members with insurance cover (withdrawals are subject to government preservation requirements). | Pension payments are subject to government age based minimums. Lump sum withdrawals/Commutations - no minimum transaction amount, subject to a minimum balance of $2,500. Please note: Transition to Retirement Pensioners are not eligible to make Lump sum withdrawals/Commutations. |
| Investment options | - Cash; - AMG MySuper (the Service's MySuper default option); - Managed Funds (diversified multi-sector options as well as a range of external managed fund options); - Direct Shares (S&P/ASX 300 listed securities; and - Term Deposits | - Cash; - Managed Funds (diversified multi-sector options as well as a range of external managed fund options); - Direct Shares (S&P/ASX 300 listed securities; and - Term Deposits |
| Minimum investment amounts | $200 per Managed Fund investment (certain underlying funds may have higher minimum investment requirements); and $1,000 per share trade or security (minimum parcel size requirements may also apply). | $200 per Managed Fund investment (certain underlying funds may have higher minimum investment requirements) $1,000 per share trade or security (minimum parcel size requirements may also apply). |
| Minimum Cash Account requirement | 1% of your account balance, plus three months of insurance premiums (where applicable). | 1% of your account balance, plus three months of pension payments. |
| Member communications | - Annual member benefit statement; - Annual trustee report; - Online access; and - Change of investment and member details confirmations. | - Annual member benefit statement; - Annual trustee report; - Online access; - Change of investment and member details confirmations; Annual PAYG summary (if applicable); and - Annual pension review. |
| Insurance options | - Death Only; - Death with Total and Permanent Disablement ('TPD'); and - Income Protection. | Not available |
| Related accounts (fee aggregation) | Available | Available |
| Death Benefit nominations | - Non-binding; and - Binding | - Reversionary; - Non-binding; and - Binding Note: Binding nominations are not available where a reversionary pension is selected. |
| Adviser authority | Available | Available |
