What's the Retirement Bonus?
The Retirement Bonus is a tax saving we pay to you when you open a Retirement Income account or purchase a Lifetime Pension, if you're eligible.
It's just one of the features of our award-winning products, designed to help you retire with confidence.
Get a bonus of up to $9,5001
Depending on how much money you transfer to a Retirement Income account and/or Lifetime Pension, you could get a bonus of up to $9,500.
You don't pay tax on the bonus
It also doesn't count towards your contributions cap (the limit on how much money you can add to your super each year).
You don't need to do anything
If you're eligible, we automatically add it to the starting balance of your Retirement Income account or Lifetime Pension.
Helping you retire better
As one of the country's largest super funds, we've designed our retirement products to help you enjoy life after work.
How the Retirement Bonus works
Get back certain tax savings on your super when you retire. You don't need to apply – if you're eligible, you'll get it automatically.
Before you retire
When we invest your super, we put aside money to pay capital gains tax (CGT) when we make a profit on your investments.
Setting up your retirement income
If you decide to move your super to our Retirement Income account and/or Lifetime Pension, your savings go into a tax-free investment environment. This reduces the amount we put aside to pay CGT.
Getting your bonus
If you're eligible, we pay the money set aside for tax into your account as a bonus, so you can start your retirement with a little extra.
How much will I get?
When you start your Retirement Income account and/or Lifetime Pension, we calculate your Retirement Bonus as 0.5% of the eligible money you first put in. So, you could get a bonus of up to $9,500.1
Here's what that might look like:
| Transfer amount | Retirement bonus |
|---|---|
| $200,000 | $1,000 |
| $500,000 | $2,500 |
| $800,000 | $4,000 |
| $1,000,000 | $5,000 |
| $1,700,000 | $8,500 |
| $1,900,000 | $9,500 |
Am I eligible?
You could be eligible to receive a Retirement Bonus if you answer 'yes' to all of the following questions.
Have you been a member with us for over 12 months?
Do you have money in an Accumulation account or Transition to Retirement Income account?
Are you using that money to start a Retirement Income account or Lifetime Pension?2
For more eligibility options, read 'Can I get the bonus?' in the FAQs below.
If you've received a super death benefit:
You can use the money to start a Retirement Income account and/or Lifetime Pension but you don't need to be a member for 12 months to get your Retirement Bonus.
Want help with your retirement planning?
You can speak to a financial adviser about what's right for your super – the cost is included in your membership.
Retirement Bonus FAQs
Here are some frequently asked questions about our Retirement Bonus, to help you with your retirement planning.
