Lump sum withdrawal or rollover form:
Cbus Super Income Stream
Cbus Self Managed
Please read this thoroughly
This withdrawal form acts as an authority for us to
release your Cbus benefit. You must complete this
form when requesting a full cash withdrawal payment
or to roll over your account to another complying
super fund. You may need to supply proof of
identification documents with your application.
For a partial cash withdrawal you can complete this
form or make the request online by accessing your
account at www.cbussuper.com.au/login
You cannot make withdrawals or roll over funds directly from the Cbus
Self Managed investment option. You will need to sell down any assets
you hold and transfer the proceeds into your standard Cbus investment
options before you can withdraw or roll over those funds. If you submit
a request for a roll over or withdrawal while invested in Cbus Self
Managed, your request will not be processed until you have sold down
all assets and transferred the proceeds into standard Cbus investment
options. You may experience an additional delay if you are invested in
term deposits and/or Managed Investments as these investments can
only be accessed at the date of maturity (for term deposits) or within
quarterly transaction windows (for Managed Investments). For more
information, read the Cbus Self Managed Investment Guide available at
www.cbussuper.com.au/cbusselfmanaged
Withdrawal fee
Get advice
Full exit fee: Cbus charges a $35 fee to your account when you make
a full withdrawal or roll over funds (full or partial rollover) to an external
super or income stream account.
Making a full or partial withdrawal from the Cbus Super Income
Stream may have tax or Centrelink implications. You are required by
law to be paid at least the minimum amount of income for the portion
of that year.
Partial withdrawal fee: Cbus charges a $20 fee to your account each
time you take some of your income stream as a lump sum withdrawal,
until you reach a nil balance. This fee does not apply to your regular
pension payments.
Before you withdraw your benefit, we recommend that you seek
financial advice to help you make the right decision for your needs.
The Cbus Advice Team can give you advice about your super over the
phone. For more detailed personal financial advice, we can refer you
to an accredited Certified Financial Planner (CFP®) who meets strict
professional qualification and service criteria set by Cbus and the
Financial Planning Association (FPA) of Australia.
Exiting to a self-managed super fund (SMSF)
For assistance call us on 1300 361 784 (choose option 4 for advice)
or book a call back from the Cbus Advice Team at
www.cbussuper.com.au/getadvice
Accessing your benefit
If you are fully retired: You can make lump sum withdrawals
(commutations) from your account at any time by completing this
withdrawal form. For partial withdrawals you can log into your online
account at www.cbussuper.com.au/login. Remember, making
withdrawals reduces your account balance which may shorten the
life of your income stream.
If you have a transition to retirement (TTR) account: You are
generally not allowed to make lump sum withdrawals from your
TTR account unless the money is used to:
■■
pay out an ‘unrestricted non-preserved’ benefit
■■
pay a superannuation contributions surcharge
■■
pay an Excess Contribution Tax Assessment
■■
give effect to a payment split under Family Law
■■
purchase another non-commutable income stream, or
■■
roll over directly to a previous or new super fund.
If any of these circumstances apply you can make lump sum
withdrawals on top of the 10% annual payment limit.
Lump sum withdrawals
The minimum lump sum withdrawal is $1,000 unless you are
withdrawing your entire account balance. For more information refer
to the Cbus Super Income Stream Product Disclosure Statement or
speak with the Cbus Advice Team.
If you are exiting to a SMSF, you will need to supply the fund’s ABN.
Identification requirements
If you are taking your full balance or transferring your balance to
a SMSF, you will need to prove your identity before funds can be
released. You can either authorise Cbus to verify your identity
electronically, or provide certified copies of identification documents.
For full details on the identification you’ll need to provide, read
the Identification requirements brochure available from
www.cbussuper.com.au/id
Privacy
Please refer to the Cbus Privacy Policy and Personal Information
Collection Statement at www.cbussuper.com.au/privacy for details
about how Cbus collects and discloses personal information or call
1300 361 784 for a copy.
Submitting your withdrawal form
Send your signed and completed form, together with certified
identification documents (if required and you’re making a full
withdrawal or SMSF rollover) to:
Cbus
Locked Bag 200
Carlton South VIC 3053
Note: We cannot process emailed requests.
Contact us
If you have any questions contact the Service Centre.
1300 361 784 Monday to Friday
8am to 8pm AEST/AEDT
incomestream@cbusmail.com.au
(Ensure you include your Cbus member
number with any correspondence)
Page 1 of 4
Super Income Stream: Lump sum withdrawal or rollover
Call us on 1300 361 784 if you need help completing this form.
Please use black or blue pen and CAPITAL letters. Use an X in boxes where required.
Step 1: Personal details
Cbus Super Income Stream member number Title
Date of birth
X Mr X Mrs X Miss X Ms X Other
D
D / M
Gender
M / Y
Y
Y
Y X Male X Female
First name/s
Family name
Residential address
Suburb/town
State
Postcode
State
Postcode
Postal address (if different from above)
Suburb/town
Email address
Do you give Cbus permission to contact you via email?
Telephone (home)
(
) X Yes X No
Telephone (mobile)
Step 2: Transition to retirement (TTR) accounts only
If you don’t have a TTR account go to Step 3.
If you have a TTR account and your circumstances have changed, please choose one of the following statements:
X I have reached my preservation age and am no longer gainfully employed. I am not intending to rejoin the workforce either full-time or part-time in the future.
X I am aged 60 to 64 and still employed. Since turning 60 I have ceased work.
X I have been declared permanently and totally disabled/incapacitated and have provided the Trustee with two medical certificates to that effect.
X I am aged 65 or more.
X I wish to withdraw my unrestricted non-preserved benefits.
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Step 3: Choose the type of payment you want and the amount
Important information
The minimum withdrawal you can make is $1,000 , unless you are withdrawing your entire balance. If your account balance falls below $2,000
you must close your account.
X I want the funds to be paid directly to me
How much do you want to withdraw from your account – please choose one option only
X A partial amount of $
.
X My full benefit and close my account
Funds will be deposited into your bank
account. If you need to change your bank
account details you can complete the Cbus
Super Income Stream: Change of payment
amount and frequency form.
OR
X I want to rollover to another super fund
How much do you want to rollover from your account – please choose one option only
X A partial rollout of
$
.
X My entire balance and close my account
If you are withdrawing your full balance or transferring your balance to a SMSF, you’ll need to prove your identity before funds can be released. You can
either authorise Cbus to verify your identity electronically, or provide certified copies of identification documents.
If you request a partial withdrawal/rollover, an adjusted minimum annual income amount will not be recalculated until 1 July of the next financial year.
Step 4: Choose which investment option you want to withdraw/rollover your funds from (optional)
If you’ve made an investment choice and are making a partial rollover or withdrawal, you can nominate which investment options you want your
withdrawal/rollover made from. If you do not make a selection your benefit will be paid on a pro rata basis from your standard Cbus investment options.
Investment options
High Growth
$
.
or
%
Growth
$
.
or
%
Conservative Growth
$
.
or
%
Conservative
$
.
or
%
Cash Savings $
.
or
%
Total must add up to 100%
1
0
0
%
Cbus Self Managed
You cannot make withdrawals, roll over funds or
have income payments made directly from the
Cbus Self Managed investment option.
You will need to sell down any assets you hold and
transfer the proceeds into your standard Cbus
investment options before you can withdraw or
roll over those funds. For more information, read
the Cbus Self Managed Investment Guide available
at www.cbussuper.com.au/cbusselfmanaged.
Step 5: Roll over to another super fund
If you are rolling over to another super fund, complete this section.
If you would like the funds paid directly to you, go to Step 6.
Full name of rollover fund1
Postal address of new fund
Suburb/town
State
Postcode
Unique Superannuation Identifier (USI) if applicable2
Fund ABN
Note: If you are transferring to a self-managed
super fund, you must provide the ABN.
Member number (if known)
1. A rollover fund can be your super fund or another super income stream. If you have nominated more than one rollover fund, please attach details of each
fund, including the payment amount that should be allocated to each to this form.
2. If you do not know the USI or SPIN for your new fund, contact your new fund to provide it to you.
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Step 6: Proving your identity
Are you taking your benefit as a full cash withdrawal or rollover to your Self Managed Super Fund?
X No If no, go to Step 7
X Yes If yes, you’ll need to prove your identity before funds can be released. You can either authorise Cbus to verify your identity
electronically, or provide certified copies of identification documents.
X Option 1: Use electronic identification
By providing my Medicare card details and either my Australian driver’s licence or passport details, I agree to Cbus using these and the other details
on this form to verify my identity electronically using independent data sources.
Important: Make sure the details you provide are accurate. If your personal details on page 1 do not match your electronic identification details,
we will not be able to use your personal details to verify your identity, which will delay processing your request.
Part 1: Medicare details
Full name (including initials – as shown on your Medicare card)
Medicare number
Valid to
D D / M
Your reference number on this card is
M / Y
Y
Y
Y Part 2a: Australian driver’s licence – if you provide passport details below, you don’t need to provide licence details here
First name (as shown on your licence)
Surname (as shown on your licence)
Australian driver’s licence number
State of issue
Expiry date
D D / M
M / Y
Y
Y
Y
Part 2b: Australian passport – if you provide licence details above, you don’t need to provide passport details here
Given name/s (including middle name – as shown on your passport)
Surname (as shown on your passport)
Australian passport number
Place of birth (as shown on your passport)
Country of birth (not shown on your passport)
Family name at birth (not shown on your passport)
X Option 2: Provide certified copies of identification documents I’ve attached copies of my certified proof of identity with this form (See the Identification requirements brochure available from
www.cbussuper.com.au/id for help). If my identification documentation has not been certified correctly I understand Cbus may use the
information from the documents in conjunction with the information on this form to verify my identity electronically using independent data sources.
Step 7: Member declaration
I declare I am the Cbus Super Income Stream member whose details appear in this form and by signing this form I am making the following statements:
I have fully read this form and the information completed is true and correct.
¡¡
I am aware that I may ask Cbus for information about any fees or charges that may apply, or any other information about the effect this instruction/claim
¡¡
may have on my benefits, and do not need any further information.
I confirm the details I have supplied are correct and request the Trustee to pay my benefit in accordance with the provisions of the Trust Deed (subject to
¡¡
any preservation requirements that may apply.
I declare I am a permanent resident of Australia or New Zealand*.
¡¡
I understand if I have not given the information requested in this form, Cbus may not be able to carry out my requests or instructions.
¡¡
Sign here:
Date
D
D / M
M / 2
0
Y
Y
Step 8: Send the completed form to: Cbus, Locked Bag 200, Carlton South, VIC 3053
Cbus’ Trustee is United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 Cbus ABN 75 493 363 262
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