Get your Retirement Bonus
When you open a Retirement Income account, you could be eligible for a Retirement Bonus. Simply transfer your super from your Future Saver or Retirement Transition account and we’ll do the rest.
Your Retirement Bonus is:
- Added automatically, if you’re eligible
- Tax free
- Based on how much you transfer, it could be up to $12,350.*
*Subject to eligibility criteria. Find out more via the button below.
What you need to know
If you have a Retirement Transition account with Aware Super, it automatically updates to become a Retirement Income account when you turn 65.
You can simply open a Retirement Income account online with a $20,000 minimum deposit. There is a transfer maximum, which is currently $1.9 million.
There are no maximum withdrawals for a Retirement Income account. However, there is a minimum annual income payment percentage set by the government, based on your age.
Stay invested in retirement
Did you know around 30% of the income paid from your super comes from investment earnings you make in retirement?
That’s a fair chunk of change, so it pays to keep your savings invested, even in retirement.
Aware Super has a range of investment options designed to meet your changing needs. You decide how your money is invested and you can switch options any time.
- Is this account right for you?
- Fees and costs?
- Forms & documents
- FAQ
Ready to open a Retirement Income account?
Before you open an account
- Consolidate any super accounts you have into your Aware Super account.[C1]
- Decide how much you need to pay yourself in retirement, taking into account if you’re eligible for the Government Age Pension.
- Not sure how you’re tracking and want to? Get expert retirement advice - at not extra cost.[AD2]
If you’re ready to retire now, or within the next 2 years, book a Retire Ready Check-in - at no extra cost.
How to open an account
Log in, opens in a new window now to open a Retirement Income account. You’ll need:
- Your personal details including two forms of ID
- How much you want to transfer from your super
- How much you want to withdraw as regular income and how often it will be paid
- What you want to invest in
- Who you want to nominate as a beneficiary.
If you’re not yet an Aware Super member, you can join online, opens in a new window or complete the ‘Open a retirement account’ form in the PDS. , opens in a new window
Before you apply, read the Target Market Determination, opens in a new window (TMD) and Product Disclosure Statement, opens in a new window (PDS).
Questions? Speak to our retirement experts on 1300 192 602.
Fees and costs
If you have a Retirement Income account, the fees and costs are:
- An account-keeping fee of $52 per year
- An administration fee of 0.23% of your account balance each year, up to a maximum of $125 per month ($1,500 per year).
Plus administration costs paid from reserves that are not otherwise charged as administration fees of 0.01% per annum.^ These costs are not directly charged to your account but have reduced the reserve balance held by the fund to cover future administration costs.
Forms and documents
For all the product information and details regarding a Retirement Transition account, please read the following documents:
- Retiring with Aware Super fact sheet (PDF, 560kB), opens in a new window
- Product Disclosure Statement (PDS), opens in a new window- the PDS provides more detailed information about our Retirement Transition product.
- Target Market Determination (TMD), opens in a new window- the TMD describes who the product is suitable for. You can use this information to help decide whether this product is right for you