You can invest in an account based pension whether you're retired or not. Anyone who has accessable monies in a superannuation fund or rollover fund can invest (roll over) into an account based pension.

Follow the Three-Step Process

There are basically three steps involved in getting your allocated pension up and running.

Step 1: Accumulate money in a superannuation or rollover fund.

Step 2: Fulfill one of the conditions that allow you to get access to that money.

These are:

• retiring after age 55*; or
• ceasing employment after age 60; or
• reaching age 65; or
• transition to retirement (special rates apply)

In some circumstances you may have access to some or all of your money earlier if you leave your employer. Your employer or financial adviser will be able to tell you if this applies.

Step 3: Invest your super or rollover money into an account based pension.

*The age limit applies to people born before 1 July 1960. If you were born after that date, your 'preservation age', as it's called, is between 55 and 60 (click here for the definition of Preservation Age).

Reproduced with the kind permission of Macquarie Investment Management Limited