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Lifetime Pension

Enjoy retirement, knowing you have an income for life

Lifetime Pension

Enjoy retirement, knowing you have an income for life

An award-winning retirement plan

The award-winning Lifetime Pension helps you enjoy life, without worrying about your savings running out. It was the first of its kind in Australia and is designed to work together with your Retirement income account. We offer this product on our QSuper website, as part of Australian Retirement Trust.1

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Income for life

Receive a tax-free income for the rest of your life, no matter how long you live.

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Spouse protection

Choose to have payments continue to your partner (if they're also 60+) after you pass away, so they'll have an income for life.

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Money-back protection

Designed so you get at least your money back in fortnightly payments, or so your beneficiaries get what's left if you pass away.

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Age Pension benefits

Potential to either become eligible for an Age Pension or receive higher payments with a Lifetime Pension.

How Lifetime Pension works

  • Your Lifetime Pension money goes into a pool that's collectively invested in the QSuper Balanced investment option for Retirement Income accounts.
  • Everyone's payments will change each year to reflect the financial performance of the Lifetime Pension pool.
  • This makes sure the pool can keep paying everyone an income for life.
  • Payments are expected to increase over time, but they may go up or down.

Once you open a Lifetime Pension, you have up to 6 months to decide if it's right for you, and after that, it's a permanent purchase.

See the Super Savings Product Disclosure Statement for Income Account and Lifetime Pension for details.

Watch: The QSuper Lifetime Pension

Got more questions?

Check the FAQs on the QSuper website.

Find out how much your payments could be

How much you will be paid in your first year depends on:

  • Your purchase price
  • Whether you have the single or the spouse protection option
  • Your age when your Lifetime Pension starts (or with spouse protection, the age of the younger person)
  • When your Lifetime Pension starts during the financial year

This is just a summary, so see the starting rates for a Lifetime Pension by reading the Product Disclosure Statement for Income Account and Lifetime Pension or using the Lifetime Pension Income Estimator. Or estimate your total retirement income with a Lifetime Pension using our Retirement Calculator.

Retirement Calculator

Compare your income when using different products.

How to apply for a Lifetime Pension

We offer this product through the QSuper website, as part of Australian Retirement Trust.

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Check your eligibility.

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Fill in the 2 forms on the QSuper website.

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We'll open a QSuper account for you (separate to your ART account/s), then transfer the money to start your Lifetime Pension.

Are you eligible?

You can start a Lifetime Pension any time between your 60th and 80th birthdays, if you meet at least one of the following:

Permanently retired

Changed jobs on or after age 60

Aged 65 or older

Received an eligible death benefit

Met another approved condition of release.

How Lifetime Pension works with other income sources

Lifetime Pension is designed to work with an account-based pension, like our Retirement income account. You could get Age Pension benefits as well if you're eligible, because only some of your Lifetime Pension money and payments count towards Centrelink's income test and assets test.

Lifetime Pension

Income for life

Gives security in retirement, knowing your payments won't stop, no matter how long you live.

  • Never runs out
  • Possible Age Pension benefits
  • Payments adjusted yearly

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Retirement Income account

Income for lifestyle

Adds flexibility by allowing you to change your payments and withdraw money anytime.

  • Income as long as you have a balance
  • Choose your investment options
  • Flexible payment options

Age Pension

Income safety net

Government payments to help eligible retirees pay for the essentials, no matter how long you live.

  • Never runs out
  • Budget lifestyle only
  • Payments based on your assets and income


1 Awards are only one factor to take into account when deciding how to invest. Past performance is not a reliable indicator of future performance.