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Enjoy the best of both worlds with a Retirement Transition or Retirement Income account

If you’re still working but cutting back your work hours as you approach retirement, a Retirement Transition account could be a handy option for you. Even better, if you’re fully retired, then a Retirement Income account could be the answer. It allows you to keep your super invested while you pay yourself an income, so you can enjoy flexible income payments and tax-free investment earnings.

Retire from work and keep the pay days

You decide how much and how often you pay yourself, so you have a regular income. Weekly, fortnightly, monthly, quarterly or beyond. It’s your choice.M5

Save on tax so there’s more for retirement

Tax free earnings and tax free withdrawals, so you can spend your hard-earned retirement savings on the things you love.

Stay invested and keep earning in retirement

Around 30% of the income generated from your super comes from investment earnings in retirement. So it pays to keep your savings invested.M5

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Why staying invested in super is a good idea in retirement

Around 30% of the income you pay yourself from your super in retirement comes from the investment earnings that you build up throughout your retirement.

The rest is made up from contributions and investment earnings from before you retired.

Best of all, investment earnings are 100% tax-free, and if you’re 60 or over, your income payments are 100% tax-free too.

Which account is right for you?

Compare the accounts below and read the factsheet for more. 

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Type of account

Retirement Transition account

Retirement Income account

To open an account you'll need to:
  • Turned 60 years old and
  • Have at least $20,000 in super to invest.
  • Turned 65, or you’re over 60 and have stopped working and
  • Have at least $20,000 in super to invest.

This account helps you to:
  • Reduce your working hours and top-up your salary
  • Keep working full-time and boost your super
  • Pay yourself an income that’s tax-free
  • Pay 15% tax on earnings in your Transition to Retirement account, instead of your marginal tax rate that could be higher.
  • Vary the regular payment amounts you receive (annual minimums apply) 
  • Withdraw lump sums
  • Your investment earnings and withdrawals are tax-free. 

It's good to know:

 You can convert your Retirement Transition account to a Retirement Income account when you turn 65, or if you’re between 60 - 64 and permanently retire, or you change employers, or temporarily cease employment.
Read the fact sheet

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

The Pension Fund of the Year award considers how Aware Super adapts its retirement offerings to the differing priorities and demands in the retirement phase of life.

Along with winning Chant West’s Pension Fund of the Year for 2024, we also won their Super Fund of the Year award.[A6]



Good news for us - even better news for our members looking to retire.

See our awards

Not sure how you’re tracking?

Try out My Retirement PlannerTM, our new digital retirement projections tool

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Your retirement planning guide and checklist

Finishing your career and moving into retirement can be exciting and daunting - all at the same time. Understand your options and how you can reach your best retirement with our retirement guide. You’ll find:
 

  • Answers to common questions about retirement 
  • Stories from other members
  • Tools to help you plan ahead
  • Retirement planning checklist.
See the guide (PDF, 3.3MB)

[A6] Chant West - 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. Visit Chant West Awards for full details.