We are living longer, government and living costs are increasing, and if the past is any gauge, there’ll be unknown changes to aged pensions. Will your money last retirement? One of our qualified wealth investment officers may be able to provide some ‘general’ support, or feel free to research here.
Read about the ASFA Retirement Standard.
Estimate your retirement outcome with the Money Smart retirement planner calculator.
Your super fund is one of the best options for financial security later in life, and more contributions you make earlier, the better. By making voluntary contributions over time, you can ensure you retire with enough to live comfortably, plus reduce the amount of tax you pay along the way.
This can be done in a few ways. First, you can make a personal contribution from the income you’ve already paid tax on. But another way to go about it is salary sacrificing. That will involve talking with your employer and arranging for some of your pre-tax income to be deposited straight into your super fund.
If you do make a contribution into super out of your own pocket, talk to your accountant or tax agent to see if you can claim a tax deduction.
Defence Bank has a Retirement Saving Account option.
If you've still got questions, book an appointment to talk to a Defence Bank RSA expert.
Budgeting is just as important. That’s because tracking your expenses can help open your eyes to all the unnecessary purchases you might be making day to day. Putting something aside, or just paying yourself is often forgetten.
You can do this through the spend tracker in our banking app or with our handy budgeting calculator.
If you are really struggling trying to put together a budget, there is one way to get around the problem: automate your savings plan. That involves setting up an auto-transfer of funds, timed to take place each time you get paid, acting as a forced savings plan.
If you’re the type of person who can’t help but dip into your savings, it might help to have a buffer in place. Try setting up a term deposit or savings account with us, and have the portion of your pay you intend to save deposited there. That way it’s not as readily accessible whenever you’re tempted. We can help you stagger the deposit dates to ensure funds will always be available to add to your savings.
Building your asset base can come in many forms, one being an investment property.
From a unit to a house or even a holiday rental, you can take your deposit or equity in your own home and increase your asset base by purchasing an investment property with one of our investment loans.
We have qualified Wealth Investment Officers who are able to provide factual information and general advice. They will not be able to provide you with personalised advice.
call us on 1800 979 188 or email investments@defencebank.com.au and we will email or call you back within 48 business hours.
Once you have read and understood the Defence Bank Super Assured Product Disclosure Statement (PDS), you may then download and complete the application form, which is located at the back of the PDS. Once the form is complete, you may post it to us along with a certified copy of your photographic identification.
If you are already a Defence Bank member you can apply online through Online Banking - once you have signed in select ‘Apply’ then ‘Defence Bank Super Assured RSA’. This will take you to some information about the RSA and a few options.
Click 'Download' next to the required application which will open up the form. Once you have downloaded the form, save, complete all fields, save and then send via Secure mail
Join us to open a Defence Bank membership. You do not need to be a Defence Bank member to open a Defence Bank Super Assured RSA however it can make the process easier.
Note: There is a minimum balance requirement of $10,000 to open a Defence Bank RSA
Yes. The minimum amount required to open a Defence Bank Super Assured RSA ‘Accumulation’ account is $10,000. If no contributions have been received into an RSA after 6 months the RSA account will be closed.
If you are looking to convert from accumulation to pension phase you will require a minimum balance of $50,000.00.