We’re here to make your withdrawal process as smooth and straightforward as possible. Below is a step-by-step guide to help you understand what’s required and what to expect.

Step 1: Complete the Forms

To get started, you’ll need to complete and return the following:

• Membership Termination Advice (MTA) form – to be completed by both you and your employer.
• BSP Requirement form – to be completed and returned to the Fund Administrator.

Step 2: Understanding the Withdrawal Process

Here’s how your withdrawal will be processed, depending on your situation:

Leaving Employment & PNG
Withdrawals can only be made once you’ve left employment and, if applicable, repatriated from PNG.

Under 55? There’s a Waiting Period
If you’re under 55, a 12-month waiting period applies from your final date of employment.
(Example: If your last working day is 31.05.2025, your funds will be available from 31.05.2026.)

55 or Over? Immediate Access
Members aged 55 and over can withdraw funds immediately after their final employment date.

Where the Funds Go
Payments will be made to your personal or joint overseas bank account.

How Long Will It Take?

·         Transfers in AUD to another AUD account generally take 2–5 business days (subject to our bank’s compliance checks).

·         Transfers in foreign currencies (e.g. USD, PESO) can take 2–8 weeks or more due to foreign exchange and compliance processes.

Tax on Withdrawal
Tax is calculated at the time of withdrawal and is based on how long you’ve been with the Fund.
The longer you’re a member, the lower your tax rate. (Refer to the tax table below for details.)