Retirement income strategy

Mercy Super has formulated and given effect to a retirement income strategy for members either in or approaching retirement. The strategy aims to help members that are either approaching or within retirement achieve a balance of:

• Maximising their expected retirement income
• Managing expected risk to the sustainability and stability of their retirement income, and
• Enabling flexible access to their funds during retirement.

Mercy Super provides products to facilitate an income in retirement through its Income Account products. These products provide flexibility to members in terms of:

• The amount and frequency of amounts drawn down from their account within any legislative limits. This includes the ability to make ad-hoc lump sum withdrawals where permitted.
• Appropriate investment options supporting the Income Accounts, including features that enable different approaches to the investment options used for drawdowns compared to longer term investment of capital.
• Ready access to information, advice and support tools through:
• Calculators, articles and content within Mercy Super’s Retirement Gateway – mercysuper.com.au/retirement-gateway
• Direct communication and engagement with relevant members

Mercy Super will continually monitor member utilisation of the tools and products supporting the retirement income strategy and adjust or engage with members as appropriate to ensure they continue to be used appropriately and remain fit-for-purpose for Mercy Super’s membership.