Home | Log in | Join Now! | Blog | Contact    Subscribe to the InvestEd Forum feed (new threads) via RSS
InvestEd :: Wealth Education for Australian Investors

Notices

54/11 CSS Pension (Federal) Options

 
LinkBack Thread Tools
Old 22-02-2009, 01:33 PM   #1
Member
 
Posts: 4
Join Date: Feb 2009
Location: Canberra, ACT
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?
Jorge is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 22-02-2009, 04:12 PM   #2
Member
 
Posts: 67
Join Date: Aug 2005
Can someone please explain what a 54/11 is and how it works.Why is it so attractive for teachers and others ?
Regards

Denis
Denis is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 22-02-2009, 04:40 PM   #3
Member
 
Posts: 52
Join Date: Feb 2009
Location: Sydney NSW
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.
Shady is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 22-02-2009, 06:27 PM   #4
Member
 
Posts: 4
Join Date: Feb 2009
Location: Canberra, ACT
54/11 Option

Denis,

It's an fincancial formula unique to Comsuper, CSS.

Last edited by Jorge; 23-02-2009 at 06:43 PM.
Jorge is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 22-02-2009, 07:47 PM   #5
Member
 
Posts: 308
Join Date: Sep 2007
Location: Sydney
Yeah ok, but you still haven't explained what you're talking about regarding pensions.
samaka is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 23-02-2009, 04:10 PM   #6
Member
 
Posts: 89
Join Date: May 2007
Location: Sydney
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)


Bob
Liverpool St is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 23-02-2009, 06:45 PM   #7
Member
 
Posts: 4
Join Date: Feb 2009
Location: Canberra, ACT
Thanks for your advice Bob, much appreciated.

Last edited by Jorge; 23-02-2009 at 07:16 PM.
Jorge is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 23-02-2009, 06:48 PM   #8
Member
 
Posts: 4
Join Date: Feb 2009
Location: Canberra, ACT
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.
Jorge is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT +10. The time now is 08:21 PM.

Copyright © 2006 Investor Education Pty Ltd (ACN 114 677 226)
Site by Hampel Group