An account based pension or annuity (also called an allocated pension) is one of a number of products that you can buy with a lump sum from a superannuation fund, or paid from a self-managed superannuation fund, to give you an income during your retirement.
A lifetime pension or annuity is one of a number of products that you can buy with a lump sum from a superannuation fund or other money to give you an income during your retirement.
If you already have a lifetime pension or annuity you will not be able to transfer to a new account-based pension or annuity.
A life expectancy pension or annuity is one of a number of products that you can buy with a lump sum from a superannuation fund or other money to give you an income during your retirement.
If you already have a life expectancy pension or annuity you will not be able to transfer to a new account-based pension or annuity.
A fixed term pension or annuity is one of a number of products that you can buy with a lump sum from a superannuation fund or money from other sources to give you an income during your retirement.
If you already have a fixed term pension or annuity you will not be able to transfer to a new account-based pension or annuity.
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