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What's an account-based pension?

Account-based pensions like our Retirement Income account let you keep your super invested and earning returns when you retire. And the best part is you can get regular payments from your account.

With added tax benefits, you have the freedom to take out money when needed, giving you the flexibility and confidence to enjoy this next stage of life.

This account works well together with our Lifetime Pension and/or the Age Pension.

Account-based pension benefits

  • Tax-free payments and investments

    Over 60? Your income payments and investment earnings are tax-free.

  • Get a retirement bonus

    You could get our Retirement Bonus to kick-start your account.

  • Withdraw money as needed

    Take out one-off payments from your balance when you need.

Retire with award-winning value

Our Retirement Income account has been awarded for outstanding value for money over many years.

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How an account-based pension works


Open a Retirement Income account

Transfer at least $30,000 from your Super Savings accumulation account or another super fund to open your Retirement Income account.


Get regular payments

Decide how much and when you get paid. Take out extra one-off payments when you need to.


Your balance continues to be invested

Pick from a range of investment options, and tell us what investment options you want to take money from.

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Try our account-based pension calculator

Use our retirement calculator to see how long your super could last with a Retirement Income account, and if you're on track for the retirement you want.

Use our retirement calculator
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Got more questions?

You can speak with a financial adviser about retiring with ART – the cost is included with your membership.1

Book an appointment

How to open a Retirement Income account

  1. Log in to Member Online, or if you're not a member, join today.

  2. In the menu, select Account, then Set up an Income account.

  3. Follow the steps to start your account.

Open your account now
Retirement Income account eligibility

You can open our Retirement Income account if:

  • You've reached your preservation age and retired
  • You're 65 years or older
  • You're 60 and stopped working with your employer
  • You've been given an eligible death benefit
  • You've met another approved reason to access your super early

How an account-based pension works with other income sources

Our Retirement Income account is designed so you can either use it by itself, or combine it with other retirement income streams. Not quite ready to retire? Check out our Transition to Retirement account instead.

Retirement Income account

Income for lifestyle

Turn your super into a regular income when you retire.

  • Works with other pensions
  • Choose your investment options
  • Flexible payment options
Lifetime Pension

Income for life

Add security with an income for life and money-back protection.

  • Never runs out
  • Possible Age Pension benefits
  • Payments adjusted yearly
Tell me more
Age Pension

Income safety net

Government payments to help eligible retirees pay for the essentials.

  • Safety net
  • Budget lifestyle only
  • Payments based on your assets and income
Tell me more

Account-based pension rules

Here's what you need to know to turn your super into a regular source of income and enjoy life after work.

Need more details?

Read the Product Disclosure Statement for a summary of the features, benefits, and risks of our Retirement Income account.

Download PDS

You can start accessing your super when you reach your preservation age and retire. Your preservation age depends on your date of birth.

  • For most people, it's now 60 years old.
  • If you were born from 1 July 1963 – 30 June 1964, your preservation age is 59.
  • If you were born earlier, you can already use your super.

You can decide how much and when you get paid from your Retirement Income account.

The government sets a minimum amount you must take out from your account each year, depending on your age. It's a percentage of your balance.

Our administration fee is $1.20 per week plus 0.10% p.a. of your balance (up to the first $800,000).

Other fees apply but they're not charged to your account. Investment fees and costs also apply.

There's a limit on how much of super you can transfer to a Retirement Income account, known as the transfer balance cap.

If you have other pension accounts across multiple super funds, your combined account balances will all count towards this limit.

You can choose from our range of investment options and tell us which investment option you want to take your payments from.

You'll keep getting payments from your Retirement Income account as long as there's money in it.

Your account is designed to work together with our Lifetime Pension and the Age Pension (if you're eligible). The Lifetime Pension gives you security in retirement, knowing your payments won't stop, no matter how long you live.

If you're over 60, the regular income payments and one-off payments you take out from your account are tax free.

You'll need to leave a minimum balance of $6,000 in your account if you want to keep any insurance cover you have.

We'll pay any remaining balance to your beneficiaries when you die.

You could be eligible for the Retirement Bonus if you open a Retirement Income account and/or Lifetime Pension and have had a super account with us for at least 12 months.

How much money you'll need when you retire depends on the lifestyle you want. Read more about how much money you might need for a comfortable retirement.

We're here to help you retire well with confidence

We're focused on strong long-term investment returns, competitive fees and access to advice you need to manage your super and retirement.

1. Australian Retirement Trust employees provide advice as representatives of Sunsuper Financial Services Pty Ltd (ABN 50 087 154 818 AFSL No. 227867) (SFS), wholly owned by Australian Retirement Trust. SFS is a separate legal entity responsible for the financial services it provides. Eligibility conditions apply. Refer to the Financial Services Guide (FSG) for more information.