For many, retirement is a scary time as it’s a transition from one phase of life to another. Managing your finances during this period can be daunting. But don’t panic.

Hitting retirement is only the beginning. Most people live for another 20 years after they retire. This is still a long time in terms of investment. Nowadays, you don’t need to draw all of your savings down in the one hit. Most funds offer members the option of moving into a pension upon reaching a retirement age.

By choosing a super fund that offers a Pension, you can simply transition your super from the Accumulation account into a Pension, sometimes without incurring the transaction costs or investment risk of being out of the market.

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