Skip to main content

Turn your super into a regular tax-free income from age 65

You could be still working, cutting back on hours, or retired. When you celebrate turning 65 you could be eligible to open a Retirement Income account. That way you can use your super to pay yourself a regular income, while the rest of it continues to be invested. 

Flexible access to your super

Set up how much and how often you pay yourself, with the flexibility to change these payments whenever you choose. Plus make extra cash withdrawals whenever you need.[M5]

Save on tax so there’s more for retirement

Unlike your regular Future Saver super account, earnings on investments are tax-free in a Retirement Income account. The same goes for lump sum withdrawals and income payments. 

Stay invested and keep earning

Compared to a regular bank account, a Retirement Income account with a $400,000 balance could receive an additional $5,300 from investment returns annually, tax free.1 Learn more.

Get your Retirement Bonus

When you open a Retirement Income account, you could be eligible for a Retirement Bonus. It’s tax-free and could be up to $12,350*

How it works

You can open an account if:
 

  • You’re 65 or over even if you’re still working 
  • Have at least $20,000 in super to invest
  • You reach your preservation age of 60 years and retire, or
  • You’re 60 or over and have temporarily stopped working, or
  • Have become permanently incapacitated, or terminally ill.

Ready to open a Retirement Income account?

If you open an account with us, you have flexibility and control of your account. You can view and make changes to your account at any time, including extra withdrawals when you need, just like you would from a bank account. 

You’ll need two forms of ID and bank account details handy. Here’s a few different ways to open an account:

Log in and under Activity and Inbox menu, select Open a Retirement Income account.

Our team of experts are here to help you complete your form or validate it for your peace of mind.

Download the Retirement Income account application form and mail it to us. 

We're here to help

Our advisers can help you understand how this account can work for you, and even complement the Government Age Pension.[AD2]

We’re Chant West’s Super Fund and Pension Fund of the Year 2024

We’ve been recognised for excellence across a range of key areas including investments, member services, fees, and organisational strength. The Pension Fund of the Year award also considers how we look after members in retirement.[A6]

* Subject to eligibility requirements.

1 This case study is for illustrative purposes only. Retirement income amounts are rounded to the nearest $100 and stated in today’s dollars, deflated using CPI at 2.5% p.a. Based on a single female member (females represent the majority of members in the fund, about 70%) retired at age 67 with $750,000 and planning until age 95. Investment returns for the Conservative Balanced option are assumed to be CPI +3.25% p.a. which equals 5.75%. Investment returns for the bank account are 3.0% per year. No admin fees and earnings tax are modelled as investment returns are assumed to be net of fees and tax. This example is for illustrative purposes only and is not intended to provide a forecast or guarantee on outcome. The case study is based on regulatory requirements and laws as at November 2024, which may be subject to change. Actual returns year on year may be negative and may vary materially. If investment returns/inflation are higher or lower, final results will differ.

[A6] Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 Chant West Awards issued 22 May 2024 are solely statements of opinion and not a recommendation in relation to making any investment decisions. Awards are current for 12 months and subject to change at any time. Awards for previous years are for historical purposes only. Full details on Chant West Awards at chantwest.com.au/fund-awards/about-the-awards

[AD2] Members can get advice about their Aware Super accounts at no extra cost, or advice on their broader needs for a fee.