The Federal Budget 2021-22 included good news for super members. Find out what it could mean for you.
How do I choose between pensions and annuities?
There are two main types of retirement income streams: allocated pensions and annuities. Both have their advantages and disadvantages, but the good news is you don’t necessarily have to choose one or the other.
For example, depending on your circumstances and after consulting your financial adviser, you could use some of your super lump sum to buy an annuity and the rest to start a pension account.