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54/11 CSS Pension (Federal) Options

Discussion in 'General Investing Discussion' started by Jorge, 22nd Feb, 2009.

  1. Jorge

    Jorge New Member

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    22nd Feb, 2009
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    Location:
    Canberra, ACT
    Early next year I'll be able to choose the 54 & 11 month option to defer my CSS benefit. At this point in time I'm considering a full rather than minimum pension, ie. indexed + non-indexed pension. Is there anyone else in these forums in a similar situation or who can offer their views please?
     
  2. Denis

    Denis Well-Known Member

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    Can someone please explain what a 54/11 is and how it works.Why is it so attractive for teachers and others ?
    Regards

    Denis
     
  3. Shady

    Shady Well-Known Member

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    Location:
    Sydney NSW
    Does this help
    http://www.civic-fp.com.au/documents/54-11predicament.pdf

    or this one

    Victoria Teachers Credit Union - Retiring in Style - 54/11

     
    Last edited by a moderator: 22nd Feb, 2009
  4. Jorge

    Jorge New Member

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    54/11 Option

    Denis,

    It's an fincancial formula unique to Comsuper, CSS.
     
    Last edited by a moderator: 23rd Feb, 2009
  5. samaka

    samaka Well-Known Member

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    Yeah ok, but you still haven't explained what you're talking about regarding pensions.
     
  6. Liverpool St

    Liverpool St Well-Known Member

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    Location:
    Sydney

    Jorge,

    I opted for a indexed pension + lump sum. The non indexed component is just that, and inflation will eat it away. With the non indexed you will get no lump sum. You should get financial advice and may I suggest Daryl Dixon (google it)


    Bob
     
  7. Jorge

    Jorge New Member

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    Canberra, ACT
    Thanks for your advice Bob, much appreciated.
     
    Last edited by a moderator: 23rd Feb, 2009
  8. Jorge

    Jorge New Member

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    Maybe sometime in the not too distant future we'll see markets recover to some level of normalcy.
     
    Last edited by a moderator: 23rd Feb, 2009