QPS - QSuper Members
As a Queensland Police Officer you are different when it comes to QSuper and your retirement from the QPS.
The first significant difference is that you have a compulsory retirement age of 60. There is an exemption for officers who have the Commissioner's approval to work beyond 60. There are not too many!
Will I have Enough to Retire at 60?
Secondly due to your shorter membership you are required to make higher standard contributions.
Although the QSuper Defined Benefit is formula based and carries no investment risk you may not be accumulating sufficient funds to maintain your pre-retirement income and lifestyle in retirement.
Because seminars are usually set on a particular date and time we understand how difficult it may be to attend. We prefer to meet with you (and your partner, if applicable) for a personalised information session. This may you can ask questions specifically about your own circumstances. At the end of this meeting you should be in a position where you can make an informed decision about your retirement path. There is no cost for this initial meeting.
Will I Outlive my Income in Retirement?
The major fear we have discussed with many Police Officers facing compulsory retirement at 60 is their concern that they may outlive their retirement savings. It is too simple to say find another job or consider buying a job with your super savings.
This ignores the reasons why you are retiring at 60 as you have a highly stressful career with QPS and you should be looking forward to enjoying life rather than worrying how your retirement savings will last.
Getting Advice Now Makes Sense
Rather than wait for the tap on the shoulder, start planning your early retirement now by talking with one of our experienced Senior Financial Advisers who has worked with QSuper members for over 10 years. We can consider your current overall financial situation and aim to provide you with some peace of mind for the future.
For a no obligation discussion on your retirement options please call us on Ph: 07 3262 4000 or submit the form below.