1. Preparing for Retirement

If you have things in place as outlined in I’ve turned 70 what should I do? then preparing for retirement will be easier. Once you have made the decision to retire you need to write to the Archbishop and advise him of your intention to retire. You will need to settle on a retirement day.

At this stage you should make contact with the Joe McNamara, Executive Office of the Priests Retirement Foundation in relation to the living arrangements you are proposing for your retirement. If you are intending to live in rented accommodation and have identified a suitable property, then you should advise the Foundation. The Archdiocesan Property Office will then organise a legal lease on behalf of the Foundation and yourself. The Foundation will pay the rent for the term of the lease.

If you have a lease vehicle try to avoid signing a lease for three years if your retirement is imminent.

If you have any issues of concern in relation to any of these matters, please contact Joe McNamara, the Executive Officer of the Foundation.

• Write to the Archbishop to advise him of your intention to retire. Settle on a retirement date.

• Discuss with Executive Officer of the Priests Retirement Foundation your living arrangements post retirement.

• If you are looking to live in rented accommodation, seek out a suitable property and advise the Foundation.

• The property office will then organise a legal lease on behalf of the Foundation and yourself.

• The Foundation will pay the rent for the term of the lease.

• If you use a lease vehicle, try not to sign a lease for three years, if your retirement is imminent.

• For any issues that are of concern, speak to Executive Officer.

**Joe McNamara : 9926 2472**

2. I’ve turned 70, what should I do?

Turning seventy is a good time to begin advanced planning for your retirement. Even though the retirement age for priest is seventy-five, there is a lot that can be done to ensure that you have a smooth transition to retirement in order to enjoy your retirement years to the full.

Seventy is a good age to make an appointment with Richard van der Merwe from the PRF to discuss your financial affairs, including applying for the pension (if you have not already done so). The Priests Retirement Foundation (PRF) will pay for this consultation. Richard’s contact details can be provided to you through Mr Peter Haberman, Executive Officer of the Fund 99262472.

This is the time whem you should also prepare a will and put in place powers of attorney (financial and medical). Once again the Foundation can recommend a solicitor and will pay for these consultations. Please contact Peter Haberman for further assitance

Now is the time to think about where you might like to live in retirement and make that known to the Priests Retirement Foundation.

In summary:

Discuss your financial affairs

Prepare a Will

Nominate power of attorney financial and medical

Decide where you would like to live in retirement

3. What will the Foundation provide me on retirement?

• Accommodation in an area of your choice.

• A new car, usually a Toyota Corolla. If you want a more expensive car, we ask you to pay the difference between your chosen car and the cost of a Corolla.

• Insurance and registration is paid by the Foundation in the first year. Thereafter, it becomes your responsibility. You own the car.

• The provision of a Corporate Credit Card with an upper limit of $18,000.00pa.

• The provision of a Cabcharge Card.

• Set up costs in your new home (Furniture, kitchen appliances, cutlery, bedding etc)

• Moving expenses from Presbytery to your new home.

• Utility costs such as Electricity, Gas, Water, Telephone, and Foxtel.