What is the Retirement Savings Account?
The RSA is an account created within Nambawan Super Fund specifically for retirement benefits. It is managed by the same professionals as the Super Fund and earns the same rate of interest as the Fund.
It allows you to preserve your retirement savings so you have access to funds for a secure and comfortable lifestyle after you retire. It removes the temptation to spend your retirement savings in one lump sum, which could leave you with nothing to support you for the rest of your life.
Why you should open an RSA?
Significant tax savings
- You choose how you want your funds paid to you
- Prudent professional funds management
- Financial guidance and advice
- Access to the Member Benefit program
- You choose who receives your benefits in the event of your death
Who is Eligible to open a Retirement Savings Account?
Reached retirement age of 55 years (50 years for Police, CIS and the Fire Service members) or having completed 25 years of service (20 years for Police, CIS and the Fire Service members); Members who have not yet reached retirement age but who have ceased employment and not secured new employment within a 12 month period; Existing members of other authorised superannuation funds. Beneficiarie s of deceased contributing members/RSA members are also eligible to open a RSA.