What is the Allocated Pension Facility?
The Trustee of the Alcoa of Australia Retirement Plan has
established the Allocated Pension Facility to enable retiring
Plan members to receive from the Plan an income stream
in the form of an allocated pension.
For more information on this facility and for greater
detail on the fees and conditions that apply to allocated
pensions, please refer to the Pensions Product Disclosure
Statement, available on the Plan’s website at:
www.alcoasuper.com.au
What is an Allocated Pension?
An allocated pension is a tax effective income stream,
or pension, payable to a retiree from a pool of assets
deposited for this purpose. Your rollover money is credited
to an individual account in your name. Under current
legislation all investment earnings are tax-free and are
added to the account. Pension payments and charges are
deducted from the account.
An allocated pension allows you to nominate the amount
of income you wish to receive, rather than having a set or
indexed amount for the life of the pension. This is subject
to Government-imposed minimum amounts. Payments
are mad
