Application for Withdrawal TelstraSuper RetireAccess

Transcription

1 Application for Withdrawal TelstraSuper RetireAccess Complete this form to make a withdrawal from your income stream. RED SECTIONS F YOUR INFMATION GREY SECTIONS TO FILL OUT CENTRELINK Lump sum YOUR INCOME STREAM BALANCE FINANCIAL ADVISER One Off Before you start Read the current TelstraSuper RetireAccess Product Disclosure Statement (PDS) and the Important Information section at the end of this form, which includes things you need to consider when making a withdrawal. Making a withdrawal may affect any Centrelink benefits you are currently receiving and/or have tax implications. Before completing this form you should contact Centrelink and/or your financial adviser or accountant for more information. If making a full or partial lump sum withdrawal, TelstraSuper will ensure that your pro-rata income requirement has been made. If you withdraw your full account balance, your account will be closed and any insurance cover you have through this account will be cancelled. If you wish to re-apply for insurance cover through TelstraSuper in the future, you will need to provide personal and health information as part of your application, which will be assessed by our insurer. Do not complete this form if you have a super agreement under the Family Law Act 1975 in place. 1. Your details your info Title Mr Mrs Miss Ms Other Surname Given name(s) Member number Date of birth Residential address (PO Box not acceptable) Suburb State Postcode Mobile Home phone no. Business phone no. address 2. Withdrawal amount details How much? Partial lump sum. The minimum amount you can withdraw is $2,000. If withdrawing from a TTR income stream you must complete section 3. Talk to Centrelink, a financial adviser or an accountant first Withdraw $ Making a withdrawal can affect your TelstraSuper will ensure that your pro-rata income requirement has been made. Centrelink benefits and/or have tax implications. Contact Centrelink, your financial adviser and/or your accountant Additional one-off income payment. DO NOT complete section 3. FIRST before you make any withdrawal from your income stream. Withdraw $ As one-off income payments are included in your assessable income you need to report these to Centrelink and they may impact your entitlements. Full lump sum - full cash withdrawal (the balance of my TelstraSuper RetireAccess account). If withdrawing from a TTR income stream you must complete section 3. In accordance with Government legislation, to ensure tax components decrease proportionately, your withdrawal will include tax-free and taxable components relative to your account balance. For example, if your taxable component is equal to 70% of your account balance, then 70% of your withdrawal will be made from your taxable component.

2 3. Accessing your super (only complete if withdrawing from a TTR income stream) Reason You can only receive cash payments for partial or full lump sum withdrawals from your TTR income stream if you ve met a relevant condition of release (listed below) or have unrestricted non-preserved benefits available (indicate below which one applies to you). See the Important Information section to understand how your TTR income stream will change if you satisfy a relevant condition of release. I satisfy the following relevant condition of release: I have reached preservation age and permanently retired from the workforce and state that I never intend to become gainfully employed for 10 hours or more a week. See the Important Information section for your preservation age. I have reached age 60 and ceased employment. I have reached age 65. I am no longer working due to permanent incapacity.* I have a terminal illness.* I am accessing my unrestricted non-preserved balance. * To satisfy these relevant conditions of release, specific medical evidence must be provided to the Trustee. Your application will be reviewed and you will be contacted for further discussion. 4. Where would you like your payment drawn from? From where? You can request to have your payment drawn from one of your selected investment options. If you don t request a single option, your payment will be deducted proportionately across your chosen mix of investment options. I would like my payment drawn from the option. 5. Where do you want your benefit paid? Where to? Pay this amount into the bank account where my regular TelstraSuper RetireAccess income payments are made. Please complete sections 7 and 9. Pay this amount into a different bank account. Please provide your bank details and complete sections 7, 8 and 9. Payments can only be made to a bank, credit union or building society account that is in your name or in a joint account. Credit cards are not acceptable. Name of financial institution Branch name Account name BSB no. Account no. Note: Please take care when recording your financial institution details, particularly your account number if you would like your benefits to be paid into a credit union account. We recommend that you provide us with a copy of your bank statement so we can verify your account details (do not include your account balance or any transactions details). Neither your bank nor TelstraSuper accept responsibility for any delay or loss of interest caused by providing incorrect details on this form. TelstraSuper is discharged from all liability once your benefits are paid into your nominated account in accordance with your instructions. We re here to help If you have any questions or would like to talk to a TelstraSuper Financial Planning Adviser, please call us on

3 6. Benefit transfer details If making a transfer to a TelstraSuper account please provide details and complete sections 7 and 9. Transfer all of my benefit Transfer $ Transfer to? into my TelstraSuper Corporate Plus account TelstraSuper Personal Plus account TelstraSuper Defined Benefit account If making a transfer to another super fund please provide details and complete sections 7, 8 and 9. Transfer all of my benefit Transfer $ into the super fund detailed below: Name of super fund Address of super fund Membership or account no. Australian Business Number (ABN) Unique Superannuation Identifier (USI) In accordance with Government legislation, to ensure tax components decrease proportionately, your withdrawal will include tax-free and taxable components relative to your account balance. For example, if your taxable component is equal to 70% of your account balance, then 70% of your withdrawal will be made from your taxable component. 7. Politically Exposed Person You must provide this information every time you make a withdrawal from your super account. See the Important Information section for a definition of a Politically Exposed Person (PEP). 1. Are you a PEP? Yes No 2. If yes, please tick which PEP category applies to you a) I hold a prominent public position or function in a government body or an international organisation 1 b) I am an immediate family member of a person referred to in (a) above c) I am a close associate of a person referred to in (a) above Are you a PEP? 8. Proof of Identity (if applicable) You must provide proof of identity if your circumstances or your bank details have changed. See the Important Information section to understand the documents we can accept and how to get your proof of identity documents certified. I have attached a certified copy of one photographic proof of identity document I have attached certified copies of two non-photographic proof of identity documents. Proof of Identity

4 9. Your signature and declaration By signing this form, I: acknowledge that all the information I have provided on this form is true and correct to the best of my knowledge. have understood that a withdrawal may affect my Centrelink benefits and may also have tax implications. know that I may ask my super fund for information about my fees or costs that may apply, or any other information about the effect this benefit instruction may have on my benefit and I do not need further information to sign this authorisation. request the transfer/payment of my super benefit as detailed in this form and authorise TelstraSuper to give effect to this transfer. understand that the income payments must be paid into an account in my name or in a joint name. sign Name Signature X Date Please return completed form to TelstraSuper PO Box 14309, MELBOURNE VIC 8001 or to contact@telstrasuper.com.au Before sending this form to TelstraSuper, please check that you have: read the Important Information section confirmed with Centrelink how a withdrawal may affect any Centrelink benefits you may be receiving spoken to your financial adviser or accountant regarding any tax implications that making a withdrawal may have understood that the withdrawal may have fees and costs and insurance implications provided certified copies of your proof of identity documents if your circumstances or bank details have changed

5 Important Information - Application for Withdrawal TelstraSuper RetireAccess (page 1 of 2) Things you need to consider when withdrawing from your income stream You need to consider all relevant information before you make a withdrawal. Some of the points to consider are: Fees and costs TelstraSuper does not charge a fee for benefit withdrawals or exiting our fund. Entry or deposit fees may apply in your new fund. If you are not aware of the fees that may apply, you should contact the super fund for further information before completing this form. Differences in fees that funds charge can have a significant impact on your retirement benefit. A buy-sell spread will apply to member-initiated transactions. Refer to your product disclosure statement for more information. Full details of TelstraSuper s fees and costs is available on our website telstrasuper.com.au Insurance TelstraSuper may currently insure you against death. If you withdraw your balance from TelstraSuper, you may lose your insurance entitlements. Other funds may not offer the same level of insurance and may require you to provide further information about your health and/or lifestyle prior to considering your application for insurance. Full details of the insurance options offered by TelstraSuper can be found on our website or by calling us on What is my preservation age? The preservation age applicable to you depends on your date of birth: Date of Birth Preservation Age Before 1 July July June July June July June July June After 30 June What you need to know when you meet a relevant condition of release When you meet a relevant condition of release your Transition to Retirement (TTR) income stream(s) will change to a Retirement income stream. As a result: investment earnings will be tax-free you ll be subject to the $1.6 million transfer balance cap, which is the total amount you can transfer to a tax-free income stream. This cap amount includes your Retirement income stream with TelstraSuper in addition to any amounts you may have in tax-free income streams with other super funds (including a Commonwealth Super Scheme benefit). If you exceed the transfer balance cap, the Australian Taxation Office (ATO) will issue you an Excess Transfer Balance determination requesting you to transfer the excess amount from your Retirement income stream. For more information visit the ATO website if you ve been receiving the maximum income payment, this will convert to a fixed dollar amount minimum withdrawal amounts will continue to apply Definition of a Politically Exposed Person (PEP) Politically Exposed Person or PEP means an individual: (a) who holds a prominent public position or function in a government body or an international organisation 1, including: (i) Head of State or head of a country or government (ii) government minister or equivalent senior politician (iii) senior government official (iv) Judge of the High Court of Australia, the Federal Court of Australia or a Supreme Court of a State or Territory, or a Judge of a court of equivalent seniority in a foreign country or international organisation (v) governor of a central bank or any other position that has comparable influence to the Governor of the Reserve Bank of Australia (vi) senior foreign representative, ambassador, or high commissioner (vii) high-ranking member of the armed forces (viii) Board chair, chief executive, or chief financial officer of, or any other position that has comparable influence in, any State enterprise or international organisation, or (b) who is an immediate family member of a person referred to in paragraph (a), including (i) a spouse (ii) a de facto partner (iii) a child, a child s spouse or de facto partner (iv) a parent (c) who is a close associate of a person referred to in paragraph (a), which means any individual who is known (having regard to information that is public or readily available) to have: (i) joint beneficial ownership 2 of a legal entity or legal arrangement with a person referred to in paragraph (a) (ii) sole beneficial ownership 2 of a legal entity or legal arrangement that is known to exist for the benefit of a person referred to in paragraph (a). 1. International organisation essentially means an organisation established by a formal political agreement by two or more countries which has the status of an international treaty. 2. Beneficial ownership means directly or indirectly owning 25% or more of an entity or exercising operational or financial control over an entity.

6 Important Information - Application for Withdrawal TelstraSuper RetireAccess (page 2 of 2) Proof of Identity Guide Your application cannot be processed until acceptable proof of identity documents have been provided to us as required by law when submitting an Application for Withdrawal TelstraSuper RetireAccess form. You must provide a certified copy of one acceptable photographic ID document or two non-photographic ID documents. See below the documents that can be accepted and how to get your proof of identity documents certified. Acceptable photographic ID (one document required) Certified copy of one of the following documents: a current Australian or foreign driver s licence or learner s permit that contains your photograph current foreign passport current Australian passport current Proof of Age card current foreign national identity card that contains your photograph and either your signature or another unique identifier. Acceptable non-photographic ID (two documents required) Certified copy of one of the following documents: birth certificate Commonwealth Seniors Health Card Health Care Card Australian Citizenship Certificate Pensioner Concession Card. AND Certified copy of one of the following documents: local council rates (less than 3 months old) containing your name and current residential address gas, water or electricity bill (less than 3 months old) containing your name and current residential address a notice of assessment from the ATO (less than 12 months old) containing your name and current residential address. A complete list of acceptable non-photographic identification is available on our website at telstrasuper.com.au Who can certify your proof of identity documents? The individuals listed below can certify documents as true and correct copies. If you re living outside of Australia, different types of people are authorised to certify documents. A complete list of persons authorised to certify proof of identity documents is available on our website at telstrasuper.com.au Please note that certification cannot be provided by a family member. legal practitioner Justice of the Peace judge of a court or a magistrate doctor or dentist nurse member of parliament (State, Territory or Commonwealth) pharmacist public officer teacher (employed full-time at a school or tertiary education institution). Individuals authorised to certify copies must: sight the original and the copy confirm that the documents are identical write or stamp I certify that this is a true and correct copy of the original document followed by their signature, their name, their qualification, their business address, their registration number (if applicable) and the date on all pages of the photocopy (see example below). You must keep the original proof of identity documents and send in the certified copy of your proof of identity documents. Example Card Number: Robert Little 15 DOE ST DOETOWN VIC 3009 Licence No. Donor A Licence Class C Driver Licence Conditions S Date of Birth 26 JAN 1970 Expiry 26 JAN 2020 I certify that this is a true and correct copy of the original document I have sighted. Joan Sample 11 Same St, SOMETOWN VIC 3009 Justice of the Peace Reg no: January 2018 Telstra Super Pty Ltd complies with the Privacy Act 1988 (Cth). For further information on privacy visit our website at telstrasuper.com.au to download a copy of our Privacy Policy or Privacy Collection Statement. is a registered trademark of the Telstra Corporation Limited. Telstra Super Pty Ltd. Telstra Super Pty Ltd, ABN , AFSL , is the trustee of the Telstra Superannuation Scheme ABN (TelstraSuper). Telephone Facsimile Website telstrasuper.com.au /FA FM001/07/0718