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54/11 CSS Pension (Federal) Options

 
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Old 22-02-2009, 01:33 PM   #1
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Question 54/11 CSS Pension (Federal) Options
Early next year I'll be able to choose the 54 & 11 month option to defer my CSS benefit. At this point in time I'm considering a full rather than minimum pension, ie. indexed + non-indexed pension. Is there anyone else in these forums in a similar situation or who can offer their views please?
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Old 22-02-2009, 04:12 PM   #2
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Can someone please explain what a 54/11 is and how it works.Why is it so attractive for teachers and others ?
Regards

Denis
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Old 22-02-2009, 04:40 PM   #3
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Quote:
Originally Posted by Denis View Post
Can someone please explain what a 54/11 is and how it works.Why is it so attractive for teachers and others ?
Regards

Denis
Does this help
http://www.civic-fp.com.au/documents...redicament.pdf

or this one

Victoria Teachers Credit Union - Retiring in Style - 54/11

Quote:
What Is 54-11?

Government Superannuation Office (GSO) Revised Scheme Members may be receive greater financial benefits by resigning just before the age of 55, instead of retiring at age 55 or later. Because the age at which GSO Members generally resign to receive these benefits is 54 years and 11 months, this option is commonly known as 54/11.
Last edited by Shady; 22-02-2009 at 08:23 PM.
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Old 22-02-2009, 06:27 PM   #4
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54/11 Option
Denis,

It's an fincancial formula unique to Comsuper, CSS.
Last edited by Jorge; 23-02-2009 at 06:43 PM.
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Old 22-02-2009, 07:47 PM   #5
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Yeah ok, but you still haven't explained what you're talking about regarding pensions.
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Old 23-02-2009, 04:10 PM   #6
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Quote:
Originally Posted by Jorge View Post
Early next year I'll be able to choose the 54 & 11 month option to defer my CSS benefit. At this point in time I'm considering a full rather than minimum pension, ie. indexed + non-indexed pension. Is there anyone else in these forums in a similar situation or who can offer their views please?

Jorge,

I opted for a indexed pension + lump sum. The non indexed component is just that, and inflation will eat it away. With the non indexed you will get no lump sum. You should get financial advice and may I suggest Daryl Dixon (google it)


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Old 23-02-2009, 06:45 PM   #7
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Thanks for your advice Bob, much appreciated.
Last edited by Jorge; 23-02-2009 at 07:16 PM.
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Old 23-02-2009, 06:48 PM   #8
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Maybe sometime in the not too distant future we'll see markets recover to some level of normalcy.
Last edited by Jorge; 23-02-2009 at 07:16 PM.
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