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Create a secure and steady income in retirement

There are flexible options for when and how you can withdraw your super when you retire. Any choice you make now won’t mean you’re locked in. You have full control of when and how much you take out of your super.

Where will you get income from in retirement?

While you’re working, your income usually comes from one place – your salary from your employer. But when you retire, your income could come from a number of different sources:


  1. Your super savings
  2. The Government Age Pension
  3. Your personal savings
  4. Other investments outside of your super, and
  5. Any salary you receive if you choose to work in retirement 

Turn your super into regular tax-free income

To start withdrawing regular tax-free1 income from your super, open an account-based pension.  Then, transfer some, or all, of your money from your super account, into your account-based pension. 

You can set up how much your income payments will be and when you’re paid. You can do this to suit your needs and change these payments whenever you need to. 

You’ve also got the flexibility to change your mind and move your money back into your super account at any time. Investment earnings in retirement are also tax-free.

1 From age 60 and over, generally no tax is payable on withdrawals from your super in retirement. Under age 60, tax may apply on withdrawals.

Even if you’re not retired you can get an income from your super

If you are still working, have reached your preservation age and would like to withdraw your super, a transition to retirement account could be an option for you.

Read about how you could transition to retirement

Make extra withdrawals whenever you need to

When you retire you could withdraw your super as a cash payment from your super account. 

You can open an account-based pension and set-up regular income payments. 

You can also withdraw smaller cash payments from your super account or account-based pension. The choice is yours.

Leave some or all of your money in your super account

Even if you can open an account-based pension, you don’t have to. Leaving some or all of your money in your super account means your money stays invested and you can hold onto your insurance cover. You can also continue to contribute while you decide how best to use your money. Keep in mind, investment earnings are taxed at 15%.

Your super and the Government Age Pension

If you’re eligible, the Government Age Pension provides a secure source of retirement income. It can work hand in hand with any other income you have in retirement, like your super. 

With over 60% of Australians over 65 years eligible for part or full Government Age Pension, there’s a chance you could benefit too2

2 Australian Institute of Health and Welfare, March 2021 – Age Pension figures

Need advice or guidance?

Get an estimate of how much money you’ll need in retirement, plus a Retirement Confidence Score that shows how close you are to achieving your retirement goals. You’ll also get a step-by-step action plan to point you in the right direction.

A transition to retirement account lets you withdraw your super savings as regular income while you’re still working.

Attend a webinar or seminar

To better understand your options in retirement, hear from our retirement experts.