Leaving CONNECT

If you resign

When you stop working for your current employer, and if your new employer is also in CONNECT, your benefit will continue to accumulate in CONNECT. If your new employer doesn't belong to CONNECT, you may still be able retain your membership in CONNECT as long as you are eligible to exercise choice under the choice of fund legislation.

Simply complete the standard choice of fund form, nominate CONNECT as your selected fund and give a copy of the form to your employer.

If your new employer doesn’t belong to CONNECT and you cannot or choose not to continue your membership, or you're unemployed, a benefit equal to the full balance in your personal account is payable, after tax. This benefit may be subject to preservation, which generally means it must be kept for use in retirement.

When you retire

When you permanently retire after your preservation age (see table below), you will be entitled to the full balance in your personal account, after tax has been deducted. Depending on your age this may be subject to preservation requirements and 'reasonable benefit limits' (RBLs).