FAQs

When you have a Retirement Income Pension (including RI Allocated Pension and Transition to Retirement Pension) account and you want to change your payment frequency, the Change of details and pension payment variation form allows you to make this change.

You can also use this form if you need...

Your pension income and account balance will be taken into account by Centrelink and/or the Department of Veterans Affairs in determining what other payments you might be eligible for.

If you have other super accounts, it could be worth rolling these into your GESB account before investing in our Retirement Income Pension (including RI Allocated Pension and Transition to Retirement Pension). You could save on fees and simplify your finances.

To combine super from other funds into your GESB Super...

You can close your account or make withdrawals of $1,000 or more by completing and submitting a Withdrawal form.

We aim to process your application within 10 working days after receiving your form and necessary information, including information from your employer. However, there are circumstances where it may take...

To look after the financial well-being of your dependants, you can submit a ‘binding death nomination’.

Retirement Income Pension account holders also have the option to set up a ‘reversionary beneficiary’ instead of a binding death nomination.

A binding death nomination is a written direction from a member to their...

If you decide to return to work after opening an RI Allocated Pension, you have a few options.

Option 1: You can keep your account and continue to receive your pension income. When you stop working at a later date, you can open a second pension account.

Option 2: You can choose...

No, insurance cover is not provided for members of Retirement Income Pension (including RI Allocated Pension and Transition to Retirement Pension).

When you open a RI Allocated Pension account, you might need to pay tax on the money you transfer from your super. How you’re taxed depends on whether you have a taxed fund, like GESB Super, or an untaxed fund, like West State Super or Gold State Super. In general,...

Most super funds are 'taxed' funds, which means the tax is paid up front, except for a few public sector funds, which are ‘untaxed.’

Untaxed does not mean no tax applies, but instead tax is charged when your benefit is paid or rolled over to a taxed scheme.

Gold State Super, West...

A taxed fund, such as GESB Super, is one where a 15% contributions tax applies on taxable contributions (such as employer or salary sacrifice contributions) when they are received by the fund. Investment earnings in a taxed fund are taxed at a maximum rate of 15% in the year that...

GESB Super members only

You may be able to claim a tax deduction for personal concessional contributions you have made to your GESB Super account.

Follow the steps below to help you find the relevant information and complete the form.

• Time it takesIt may take up to 30...

Division 293 tax reduces the tax concession that higher income earners can receive on certain super contributions.

Concessional (before-tax) contributions are generally taxed at a rate of 15%, up to your concessional contributions cap.

If the sum of your ‘income’¹ and ‘low tax contributions’² exceeds the high-income threshold of $250,000 for the...

If you decide to set up a transition to retirement income stream, your income will be taxed in the following way:

• Investment earnings are taxed at a concessional rate of up to 15%
• If you're aged 60 or over, you won’t pay tax on your income payments
• If you're aged between Commonwealth preservation...

GESB Super, Retirement Income Pension (including RI Allocated Pension and Transition to Retirement Pension), RI Term Allocated Pension, West State Super and Gold State Super are all complying super funds for taxation purposes.

If you are a Gold State Super or West State Super member and have an eligible service period that commenced before 1 July 1983, this page is designed to provide important information about your eligible service period and how your tax components are calculated. If you would like to confirm...

Certain contributions made to your super could be subject to an extra tax known as the Superannuation Contributions Surcharge. This page is designed to help you understand what the Superannuation Contributions Surcharge is and whether it affects your super.

The Superannuation Contributions Surcharge, or ‘Super...

If you have been diagnosed with a terminal illness, you may be able to access your super early, even if you don’t have insurance with your super account.

If you do have insurance, you may need to draw on your super while we are assessing your insurance claim.

We appreciate this is...