Treat retirement money as long-term
A withdrawal today loses both the capital and all the future growth that capital could have earned.
04 · Preserve
Preserve what you have built
Retirement money often changes hands when you change jobs. Preserving it protects years of contributions and compounding from becoming short-term spending.
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Three principles for preserve
Compare the transfer options
A preservation fund, retirement annuity or new employer fund may each have different costs, investment choices and access rules.
Avoid avoidable tax
Cash withdrawals can create tax and may reduce the tax-free amount available at retirement. Obtain current guidance before deciding.
Practical starting point
Four useful next steps
- 1
Ask the existing fund for a benefit statement and transfer options.
- 2
Compare fees, investment choices and access restrictions.
- 3
Keep the transfer direct between approved retirement funds where appropriate.
- 4
Update beneficiaries after the transfer is complete.
Common questions
Questions about preserve
Can I access preserved retirement money?
Access depends on the product, legislation and previous withdrawals. Rules can change, so confirm the current position before transferring or withdrawing.
Why is preservation so important?
Because the cost is larger than the amount withdrawn. You also give up the future compound growth that the money could have earned before retirement.