Retirement and You

Retirement from the ANU

The University does not stipulate a retirement age* for its staff. Both staff members and the University therefore should be aware of, and give careful consideration to, the following issues which surround staff retirement.

Issues for Staff Members

Each staff member must make the decision as to when he or she is going to retire from employment. Good retirement planning can be of great assistance. Some of the major issues to consider when thinking about retirement include:

• The financial implications of retirement. One of the major factors in this will be the staff member's superannuation;
• What to do after retirement. Many retirees prefer to maintain an active involvement with the University community;
• How to cope with retirement. Sometimes retirement can result in difficulties such as anxiety, loneliness, grief or depression. Staff members can seek guidance and assistance from the Adviser to Staff to help them plan in advance to deal with such issues if they arise.

Financial Aspects of Retirement

One of the major issues that a retiring staff member must deal with is financing retirement. This is often about superannuation but also encompasses broader financial issues.

Superannuation

Staff members should be aware of their options and entitlements. It is important to realise that your superannuation entitlements can affect your retirement decisions and vice versa. Therefore, the University strongly encourages all staff members to obtain advice about superannuation, especially those staff members who are approaching retirement age1. While University staff themselves cannot provide personalised financial or superannuation advice, there are a number of avenues through which to obtain assistance.

The first point of contact should, of course, be the relevant superannuation fund. For most staff that will be UniSuper. However, some staff members will be members of the Commonwealth Superannuation Scheme (CSS). Both schemes offer seminars for staff each year which are well worth attending.

Health Insurance

Staff members who are currently members of the ANU Staff Health Insurance Plan, or join the plan prior to retirement, can remain in the plan post-retirement, and continue to pay the ANU corporate rates. Staff should make arrangements to pay via direct debit rather than payroll deduction post-retirement.

Financial Advice

Staff should also seriously consider obtaining independent financial/retirement advice from a professional financial planner. The Financial Planning Association of Australia can provide assistance in finding an financial planner to suit your individual needs.

Seminars

From time to time the University arranges with the financial planning industry for on-campus programs tailored towards assisting University staff to plan for retirement.

Retirement and the ANU Community

There are several ways in which retired staff members can maintain their links to the ANU Community, including:

Visiting Fellowships

The University may, at the discretion of the relevant Dean or Director, offer a Visiting Fellowship to a recently retired former member of the academic staff or a retired person from outside the University. Via such a fellowship, the relevant Dean or Director will allow the individual:

• to continue scholarly work which, it is expected, will be completed within a reasonable time after retirement and which is likely to reflect credit on the University as well as the person;
• to maintain an association with the University which will be of continuing mutual benefit; and
• continued access to University facilities such as office and laboratory space, information technology and libraries.

At the end of the term of appointment, the Visiting Fellow must provide a written report to the delegate outlining his/her achievements during the fellowship.

University House

University House offers membership to staff members and graduates from recognised Universities. Staff members considering retirement (especially those not holding a graduate degree from a recognised University ) may wish to consider joining University House prior to retirement.

The benefits of membership include some discounted University House services as well as reciprocity with various clubs throughout Australia and Overseas.

Drill Hall Gallery

The Australian National University has a lively visual and performing arts program, as part of which the Drill Hall Gallery provides audiences with changing exhibitions that are innovative, intellectually stimulating and critically engaging, and which highlight achievements in contemporary visual arts.

The gallery provides a cultural outreach resource for the ANU at local, community, national and international level through its program of local and travelling exhibitions. It supports the arts in the Canberra region by providing link exhibitions developed in conjunction with the University's wide ranging academic interests and to coincide with major conferences and public events. It promotes community participation and access to the resources of the university. National and international exhibitions and works from the University's own extensive collection are features of the gallery's program. The Gallery is open to the public from February to December (Wed-Sun 12 - 5 pm) and admission is free.

The Drill Hall Gallery welcomes volunteers. For further information contact Nancy Sever, Director.

National Institutes

The University has established a number of National Institutes that have the basic aim of building on our strengths to create the best research and teaching environment in Australia. These institutes form a broadly based intellectual environment in the University of the highest possible order. Staff members, students and retirees can register their interest in one of the following:

• National Institute for Asia and the Pacific
• National Institute of the Arts
• National Institute of Bioscience
• National Institute of Business and Economics
• National Institute for Environment
• National Institute of Government and Law
• National Institute of Health
• National Institute of the Humanities
• National Institute for Indigenous Australia (name will change)
• National Institute of Information Sciences and Engineering
• National Institute of Science
• National Institute of Social Sciences

It is expected that the National Institutes will welcome the continued participation from former staff following their retirement.

Volunteer Work

A rewarding and productive way to maintain links with the University is through volunteer work. While there is no central ANU Volunteer network, retirees who wish to volunteer in a particular part of the University may wish to contact that area to ascertain if it has a volunteers program. Some areas that do take on volunteers include Mt Stromlo Observatory Visitor's Centre and the Drill Hall Gallery.

The ANU Emeritus Faculty

The Emeritus Faculty of the ANU comprises former academic and general staff members of the University who wish to continue an association with the University to serve its interests and those of the wider community.

The Emeritus Faculty website provides information about the Emeritus Faculty's role within the University, as well as the benefits of membership located in the News section. Mr Giles Pickford the Emeritus Faculty Secretary, is also available to visit areas for informal discussions about the Faculty, about making retirement work for you, and why staff members may wish to join upon retirement.

*The term "retirement age" in this document, and linked documents means the age established by the relevant superannuation fund as the age at which superannuation funds can be accessed. Otherwise, continuing staff of the University have discretion in determining their retirement date.