» Over 184,000 members
» Over 14,700 employers
» Over $2.8 billion in funds
Pensions
Pension options
We offer two account based pension options.
These are outlined below to help you determine which one best suits your circumstances:
Option 1 | Option 2
Option 1
Transition Pension
The Transition Pension is available if:
- You are still working full or part time, and
- You are between your preservation age and 65 years of age, and
- You have a superannuation benefit of at least $10,000 to convert to a pension.
Transition Pension facts
- You can receive regular pension payments to boost your current income, when reducing your working hours
- Tax free investment earnings
- Tax is payable at your marginal tax rate on some regular pension payments for members 55 to 59 years of age
- No tax is payable on regular pension payments for members aged 60 and over
- No income tax payable on the exempt (tax free) component
- A 15% tax offset is available for members
- aged under 60
- Minimum annual pension payments
- Maximum 10% of your pension balance annually can be paid as a regular pension payment (up to 65 years of age)
- Flexible payment frequencies
- Choose the investment option your pension payments are drawn from (if you have selected a mix of options)
- Member online account access available 24 hours a day
- Generally no lump sum payments (non commutable)
- Can be used in conjunction with salary sacrifice* in order to save tax and grow your wealth, and
- Personal financial advice available.
Option 2
Retirement Pension
The Retirement Pension is available if:
- You are retired from the workforce and you have reached your preservation age, or
- You are 65 years of age or over, or
- You are permanently incapacitated at any age, and
- You wish to receive regular pension payments with the flexibility of choosing lump sum payments if required, and
- You have an unrestricted superannuation benefit of at least $10,000 to convert to a pension.
Retirement Pension facts
- You can receive regular pension payments to boost any other income
- Tax free investment earnings
- Tax is payable at your marginal tax rate on some pension payments for members aged 55 to 59 years of age
- No income tax payable on the exempt (tax free) component
- A 15% tax offset is available for members aged under 60
- Minimum annual pension payments
- No income tax is payable on income payments for members aged 60 and over
- No maximum limit to pension payments
- Flexible payment frequencies
- Choose the investment option your pension payments are drawn from (if you have selected a mix of options)
- Member online account access available 24 hours a day
- Commutable to lump sum payment
- Income is concessionally treated by Centrelink, and
- Personal financial advice available.

