Here’s an easy-to-follow retirement checklist to help you navigate making decisions about retiring!
- Contact your superannuation fund
For most AEU members, this will either be RBF or CareSuper. Accumulation Scheme members have moved to CareSuper, while Defined Benefits members remain with RBF. Some people may even have accounts with both CareSuper and RBF. It’s important to contact your super fund/s to make sure you’re financially ready and able to retire, particularly if you’re a Defined Benefits scheme member. - Contact your financial advisor and/or accountant (if you have one)
It’s wise to ensure that you’re in the best possible financial position to retire before making any decisions. Both CareSuper and RBF offer these services. - Consider your options with annual leave and LSL
If you have a LSL balance, you may want to consider whether you want to take some leave prior to retiring, or have all your leave paid out on retirement – some members transition straight from LSL into retirement. There can be income tax advantages depending on timing, so it’s best to consult an accountant.
You should also consider whether you want to take any of your accrued annual leave before retiring, or have it all paid out when you resign. - Give your employer formal notice
You will need to give TasTAFE 2 weeks’ notice before ending your employment. (However, if you’ve worked at TasTAFE for less than a year, that notice period is only 1 week.) - Advise the AEU of your retirement
Please contact your union and advise us of your retirement date and an alternate email address, as your TasTAFE email will no longer be accessible to you. At this point your union will also be able to discuss your membership options with you.
If you need help?
If you’ve still got questions about retiring, here’s who to talk to:
- You have started with the Fact Sheet, well done! Any feedback is appreciated
- Talk to your workplace’s AEU Rep
- Talk to your workplace’s AEU Organiser
- Contact your AEU support team
