Services for pensioners from Westpac

Westpac Bank provides a variety of services tailored for pensioners and retirees, helping them manage retirement savings, superannuation, and everyday banking needs. These services cater to both individuals and employees of businesses, ensuring flexibility and convenience.

Westpac Superannuation Retirement Plan

The Westpac superannuation plan allows both businesses to make compulsory contributions for employees and individuals to voluntarily invest funds for retirement. There are several types of super funds:

• Westpac Staff Super (Corporate): For employees of specific companies and their spouses.
• Retail Funds: Open funds managed by financial companies, accessible to the public.
• Public Sector: Designed for federal or state government employees.
• Industry Funds: Established to serve representatives of particular industries.
• Westpac Self-Managed Super Fund (SMSF): Allows eligible individuals to manage their own retirement fund.
• Westpac Lifetime BT Super Service: Provides over 38 investment options, online management, and insurance coverage.

For questions regarding superannuation, customers can call Westpac Super Support at 132-135 from 8 am to 6:30 pm Monday to Friday.

Westpac Retirement Savings Account

The retirement savings account is available for people over 55 and retirees. It features:

• Online and mobile banking access
• Free withdrawals at Westpac, BankSA, Bank of Melbourne, and St. George ATMs
• An overdrawn commission of 15 AUD
• Free overseas ATM cash withdrawals from GA partners
• Interest calculated daily, depending on account balance (as of July 2020, up to 0.55% annually)

Credit Cards and Personal Loans for Pensioners

Westpac does not offer separate credit products specifically for pensioners. However, retirees can apply for standard products such as:

• Westpac Low Rate Credit Card
• Unsecured Personal Loan
• Flexi Loan
• Other credit products available online or at branches