Retirement Savings Account

Retirement Savings Account


On reaching 55 years of age, a member is able to access his or her superannuation savings. While this may be the beginning of a new life outside of mainstream work, many decisions will now have to be made to ensure you remain comfortable and secure. The immediate question that now has to be addressed is; what to do with your superannuation?

Many members when receiving their lump sum immediately begin to spend it without thinking that this money maybe the last major cash source that they will have. Members will inevitably face pressures from friends and relatives to share in their retirement monies. You may have also ear marked much of your nest egg for education of children, improvements to your dwelling or opening a trade store in the village. While some or all these things may be a high priority for you, the question that must be addressed is will your superannuation nest egg meet your needs over the remainder of your life?

Have You Considered A Retirement Savings Account?

The Retirement Savings Account (RSA) is an account that assists members to manage their retirement benefits.

When you transfer your funds into RSA, it is professionally managed by our Fund Administrator alongside other members’ funds. Members who join the RSA will earn the same interest at the end of each financial year as other NASFUND members.

If your answer is “no” to this question or you are uncertain of what to do next, then you may need to consider advice or counseling on how to best utilize your superannuation payment in retirement. Such advice may include;

  • How to invest your superannuation
  • How can I commute my lump sum payment to a series of payments over a number of years?
  • What are my retirement requirements?

For more information, please contact us.

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