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Features at a Glance

Key FeaturesPersonal Superannuation Service Personal Retirement Service
Who can invest?Individuals under 75 years of age and employed (or self-employed) full-time or part-time

Individuals:
• Who have reached their preservation age, are under age 65, and have permanently retired (working less than 10 hours per week)
• Who have reached their preservation age and are still employed at least 10 hours per week (for transition to retirement pensions)
• Aged 60 to 64 years and have ceased an employment arrangement after turning 60 years
• Aged 65 years or over
• Who are permanently incapacitated
Minimum initial contributionNot applicable$10,000
Minimum additional contributionsNo minimumNot applicable
Minimum Regular Investment Plan$200 per monthNot applicable
Types of contributions accepted Concessional contributions:
• Compulsory employer contributions
• Voluntary employer contributions (e.g. salary sacrifice contributions)
• Personal contributions for which you claim a tax deduction

Non-concessional contributions:
• Personal contributions from your after tax salary which are not claimed as a deduction
• Spouse contributions made to your account with the Service
Not applicable

Generally pensions can only be commenced using superannuation benefits payable from a superannuation fund including benefits payable from an account in the Freedom of Choice Employer Superannuation Service or Personal Superannuation Service
Contribution payment options • BPAY
• Direct credit
• EFT
• Clearing house facilities (employers only)
Not applicable
Automatic RebalancingAvailable (managed funds only)Available (managed funds only)
Cash SweepAvailableAvailable
Access to benefitsUnrestricted non-preserved benefits can be withdrawn at any time.

All other benefits are subject to regulatory restrictions.
Pension payments can be paid:
• Monthly
• Quarterly
• Half-yearly
• Annually
Minimum withdrawalsNo 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.

For irregular payments – no minimum transaction amount applies.

Please note: Stricter rules apply to Transition to Retirement Pensioners. Annual pension payments are subject to a government age based maximum and irregular payments in excess of this maximum cannot usually be made.
Investment options• AMG MySuper (the Service’s MySuper default option);
• Managed funds (diversified pre-set multisector options and single sector options)
• Direct Choice (listed securities including approved ETFs)
• Term deposits
• Managed funds (diversified pre-set multisector options and single sector options)
• Direct Choice (listed securities including approved ETFs)
• Term deposits
Minimum investment amounts• $200 per Managed fund investment (certain underlying funds may have higher minimum investment requirements); and
• $1,000 per share (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 (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
• 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)
• Annual pension review
Insurance options• Death cover (including terminal illness cover)
• Total and permanent disablement (TPD) cover
• Income protection (IP) cover
Not available
Related accounts (fee aggregation)AvailableAvailable
Death Benefit nominations• Non-binding
• Binding (lapsing and non-lapsing)
• Reversionary
• Non-binding
• Binding (lapsing and non-lapsing). Note: not available where a reversionary
pension is selected.
Adviser authorityAvailableAvailable
  • Freedom of Choice © 2022
  • PO Box 3528, Tingalpa DC QLD 4173
  • 1800 806 013
  • enquiries@freedomofchoice.com.au