Salaam, in partnership with global investment solutions provider Russell Investments, introduces iQ Retirement – an account-based pension offering designed to help Australians transition into retirement while accessing Shariah-compliant investment options.
About iQ Retirement with Salaam
iQ Retirement is structured to provide eligible individuals with the ability to receive income payments from their superannuation while their remaining balance stays invested. It is designed for individuals who are either retiring or planning to gradually reduce their working hours.
iQ Retirement is an account-based pension product that allows individuals who have met a condition of release (such as reaching preservation age and retiring, or commencing a transition to retirement strategy) to:
- Access regular income payments from their super
- Choose to invest in three Shariah-compliant investment options, powered by Russell Investments
- View and manage their account online
These investment options are screened to comply with Shariah guidelines, avoiding interest (riba) and excluding sectors such as alcohol, gambling, and tobacco.
Salaam and iQ Retirement offer a flexible approach to income in retirement, allowing individuals to receive payments in a way that supports their financial independence while aligning with their values.
Designed to Support Different Retirement Journeys
iQ Retirement can be used in two ways, depending on your circumstances:
- Transition to Retirement (TTR): For those who have reached preservation age and are still working, iQ Retirement can provide income while continuing to grow super through employer and personal contributions.
- Fully retire: For those who have fully retired or met another full condition of release, iQ Retirement offers regular income payments from their super balance.
In both scenarios, the remaining superannuation balance stays invested, with investment earnings subject to the conditions applicable to retirement phase income streams under current legislation.
Why it’s worth considering – especially if you’re over 60
Reaching retirement age often brings new questions about how to manage your superannuation, how much income you’ll need, and how your savings should be invested. If you’re over 60, understanding the different ways you can access your super – and whether those ways align with your values – becomes especially important.
Salaam and iQ Retirement may help provide a structured approach to drawing income while continuing to invest your balance in a way that reflects your ethical or religious preferences.
Taking the time to explore your retirement income options and understanding how they work can support better decision-making and greater peace of mind as you navigate this stage of life.
Issued by Salaam Wealth Superannuation Fund (ABN 71 302 958 449). Total Risk Management Pty Limited ABN 62 008 644 353, AFSL 238790 is the Trustee of the Russell Investments Master Trust (RIMT) ABN 89 384 753 567. iQ Retirement is a division of the RIMT.
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