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Secrets to success for GESB members

Are you confident your retirement savings will last?

How are you going to manage your money in retirement? What do you need to consider and when do you need to make your decisions?

Once you leave GSS, your investment choices become really important, because you’re exposed to the market. On this page, you’ll find useful resources to help you answer some key questions about investing for retirement:

  • How can I make my money last in retirement?
  • What kind of investment strategy is right for me?
  • How much risk should I be taking?
  • What should I do when the market takes a downturn?

Getting your investment strategy right could be the difference between a good retirement, and a great one.

Teika Porrins-Chinnery, StatePlus

GESB Secret

In retirement, your money won’t be protected from the markets.

If you’re a Gold State Super (GSS) member, the value of your super and final benefit is not affected by investment markets. The amount you’ll receive from GSS at retirement is guaranteed by a formula so there is no market risk to your benefit. Once you retire, however, you’ll need to decide how to invest your super to give you the best chance of having enough income throughout retirement.

Investing decisions are particularly important in the years just before and after retirement. This is known as the “retirement risk zone” because your super is at its peak in value. If some — or all — of your super is invested in market-linked assets, a downward trend can produce a significant fall in value. If you make a withdrawal to pay living expenses during a market slump, it can lock in losses, leaving you with less to invest and earn income from.

So, it’s important to make informed choices about your investment strategy so you can make the most of your benefit from West State Super and/or GSS in retirement.

To make the most of your GESB scheme, register for a free seminar today.

This information is general and does not take into account your personal objectives, financial situation or needs. Before making any decisions based on this information you should consider its appropriateness to you. We strongly recommend that you consult a financial planner before taking action based on this information. Further information and disclosures can be found in our Financial Services Guide.

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