SUPER IS ONE THING YOU DON'T
HAVE TO WORRY ABOUT

Your account will automatically be transferred to the Russell SuperSolution Personal Division when your employment ceases – you don't need to do anything.

• Your Member Number and PIN will stay the same
• You can still make contributions to your account
• Your new employer can make contributions to your account
• You will have access to the same investment options
• Your previous investment choice will remain in place if you are a Defined Contribution member*
• Your existing Death and Total & Permanent Disablement (TPD) cover will transfer across to the Russell SuperSolution Personal Division.

If your balance is under $2,000, you will need to top up your super to remain a member.

* If you are a Defined Benefit (DB) member your DB component will be invested in the Australian Cash option until you make an alternative investment choice. If you have member investment choice accounts, these will continue to be invested in the same way as before the transfer.

Next steps

Read Redundancy and your super factsheet.
Contact the Helpline if you have any questions, 1800 555 667.

If you are 55 you have the option to stop working completely and retire, or you may prefer to ease into retirement and continue to work, either full or part-time. A Russell Private Active Pension will allow you to do either.

Under Transition to Retirement rules, you can access your super when you turn 55, even if you continue working.

A Transition to Retirement strategy will allow you to:

• reduce your working hours while maintaining your income
• increase your income
• increase your super savings and pay less tax.

How?
By combining your superannuation account with a pension account. You can keep building your super through regular contributions, while receiving regular income payments from a pension.

How do I pay less tax?
Investment earnings and contributions are taxed at superannuation rates within your contribution account (15%). And earnings within your pension account are tax free. If you are over 60, pension payments are also tax free.

What if I want to retire completely?
When you retire, you can either take your super in cash as a lump sum, or you can move it into a pension to provide you with an ongoing income stream.

Next steps

Learn more about a Transition to Retirement strategy.
Read about the Russell Private Active Pension.
See how a Transition to Retirement pension could impact your income and tax situation.

Contact the Helpline on 1800 555 667.

Our team can help answer questions about your super and redundancy or explain any difficult concepts such as:

• "What do I need to consider if I am being made redundant?"
• "What is a Transition to Retirement strategy?"

If you have more complex questions or would like to meet with a financial adviser to go through your options in more detail, you can choose to contact one of the Certified Financial Planner (CFP) qualified advisers through our Adviser Referral Program.

A Financial Adviser can provide advice which is tailored specifically to your personal situation. They can help answer questions such as:

• "What should I do with my redundancy payment?"
• "Should I contribute my redundancy payment to Super?"
• "Can I implement a Transition to Retirement strategy and save tax?"

Next steps

If you would like us to refer you to one of our hand-picked advisers on the Adviser Referral Program contact the Helpline, 1800 555 667.

For more information about our advice services or what to ask your adviser read the following fact sheets:

• Our advice services.
• Financial adviser checklist.

It's important to remember that it's your job that has been made redundant - not you.

Initially you may feel shocked and then even angry or upset about being 'retrenched'. And while change can be unsettling at times, remember, it can also bring about opportunity.

Perhaps this is your opportunity to spend more time with family or to plan that career change you've often thought about. Maybe it's an opportunity to ease into your retirement, by continuing to work but on a more flexible basis or in a less demanding role, while using your super to supplement any reduced income.

Seek help and support
Talk to friends and family about your thoughts and ideas as they can provide the emotional support when you need it most. And when it comes to more complex decisions it's often best to let the professionals guide you.

Social security entitlements:
Talk to Centrelink to find out what government assistance you may be entitled to.

Financial advice:
Contact the Helpline for information about your super, redundancy or retirement options. We can also put you in touch with one of our handpicked licensed financial advisers from our Adviser Referral Program, 1800 555 667.

Use a budget planner to see how your income and expenditure will look after you stop working. And if you are meeting a Financial Adviser bring it along to your meeting.

Tips and advice about jobs, education and volunteering:
Australian job search
Seek
MyCareer
Careerone
Volunteer opportunities
volunteeringaustralia.org

Taking care of your emotional health:
Beyond Blue' booklet -
Taking care of yourself after retrenchment or financial loss
Beyond Blue website
Lifeline website