• Based on the projection of the lifecycle of a single female member who starts from age 21 and plans to retire at age 67, which represents about 70% of our membership. The projection finishes at age 95.
• Results are approximated figures of 33% from investment earnings before retirement, 30% from investment earnings through retirement and 37% from contributions, which together make up the income in retirement paid by super.
• Results are stated in today’s dollars, deflated using Average Weekly Ordinary Time Earnings (AWOTE) at 3.7% p.a. for accumulation projection and using CPI at 2.5% p.a. for pension projection.
• Salary is based on the average female Aware Super member at age 21, indexed with AWOTE at 3.7% p.a. Their employer only contributes SG at the legislated rate of 12%.
• Investment returns for accumulation are based on the Aware Super MySuper Life Cycle option, assumed to be CPI + 4% p.a. until age 55, reducing from CPI + 4% p.a. to CPI + 2.75% p.a. between the ages 55-65 (inclusive) and CPI + 2.75% p.a. from age 65 onwards.
• Investment returns for pension is based on the Conservative Balanced option, assumed to be CPI + 3.25% p.a.
• Based on 2025/26 income tax rates.
• Based on March 2025 Aged Pension rates, indexed with Average Weekly Ordinary Time Earnings (AWOTE) at 3.7% p.a.
• No admin fees and earnings tax are modelled as investment returns are assumed to be net of fees and tax.
• Insurance premiums during accumulation are assumed to be the average for members at each age with default insurance arrangements, indexed with AWOTE of 3.7% p.a.
• This example is for illustrative purposes only and is not intended to provide a forecast or guarantee on outcome. 

Meet Jane. She’s 67 years old and has retired with $360,000 in her super.

She’s deciding whether to open an account-based pension with her super fund or take the money out and put it in a bank account.
 

Option A: Jane invests her savings in super through her retirement account

Her savings plus the investment earnings could provide her with an income of $18,400 per year. This will last until she is 95 years old.
 

Option B: She puts her savings into a bank account

In a bank account she would earn about 3% interest. Here, her savings will provide her with around $11,300 per year.

This means Jane could get $4,800 more income each year if she keeps her money invested in super.

• Retirement incomes are rounded to the nearest $100 and are stated in today's dollars, deflated using CPI at 2.5% p.a. 
• Based on a member aged 67 at the start of FY26 with a starting balance of $360,000 and planning to age 95. 
• Retirement income is derived by targeting a constant total real level of income to exhaust their balance at age 95. 
• Investment returns for the Conservative Balanced option are assumed to be CPI +3.25% p.a. which equals 5.75% p.a. 
• Investment returns for the bank account are 3% p.a. 
• No admin fees and earnings tax are modelled as investment returns are assumed to be net of fees and tax. 
• Based on 2025/26 income tax rates. 
• Based on March 2025 Aged Pension rates, indexed with Average Weekly Ordinary Time Earnings (AWOTE) at 3.7% p.a.
• This example is for illustrative purposes only and is not intended to provide a forecast or guarantee on outcome.

When you retire, you can choose to withdraw your money from super, stay in super and start a Retirement Income account or a combination of both.

Investment earnings from a Retirement Income account are tax-free. It’s one reason why keeping your money invested through super can also mean keeping more of it compared to other investments.

It’s a way to receive regular payments from your super, tax-free, while keeping your balance invested. It is also known as an account-based pension. Once you open a Retirement Income account, you’ll move some or all of your super into the account, choose how often and how much you’d like to be paid, and can withdraw lump sums whenever you like. It’s important to know that retirement income and investment earnings are not guaranteed, and your payments will cease once your account balance is depleted.

At Aware Super, we’re experts in retirement investing, but it’s up to you how your money is invested. You can leave it to us and we will invest your money in our Conservative Balanced option. But if you’d like to make your own investment choice, we offer investment options that you can mix and match, depending on how hands-on you want to be in managing your super. You can switch at any time.

You have a choice of investment options when you open a Retirement Income account.

Yes, you can change your option at any time. Learn more about your investment options here.

Yes. Returns will be reflected in your Retirement Income account balance and become part of your regular income payments. And you have the flexibility to withdraw lump sums whenever you need.