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Retirement income account

Retirement is the new promotion. Our highly awarded Sunsuper Retirement Income Account allows you to pay your super like a salary in retirement. Plus you could receive a bonus of up to $4,800* as a kick-start.

Talk to us today about how you can get started.

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Award winning

Sunsuper has been awarded both Money magazine’s Best Pension Fund Manager 2018 and SuperRatings' Pension Fund of the Year 2018 for its leading pension offering.

Who is it for?

A Retirement Income Account is generally for members who have permanently retired and reached their preservation age, or reached 65 years of age regardless of whether they’ve retired.

How does it work?

With a Retirement Income Account, your super savings stay invested to keep working for you. What’s more, earnings on your investments are generally tax free. You can receive regular income payments to your bank account or withdraw lump sums until your funds and any investment interest earnings run out. Any regular income payments or lump sum withdrawals are tax free if you're aged 60 or over. You can choose your income payments and when you want to receive them, provided the total each year meets the minimum amount set by the government.

Why you should consider it

Many people think they need to withdraw their super as a lump sum at retirement. You don't! In fact, you may be better off leaving it invested so it will continue to receive investment earnings. See how the 10/30/60 Revelation could help maximise super earnings right through retirement. If you do decide to take a lump sum payment, a minimum amount of $2,000 applies.

Getting started

Your Sunsuper for Life membership already includes a Retirement Income Account. When you're ready to start your Retirement Income Account you can simply activate your account through Member Online or complete the Income account request form [PDF 810KB].

Retirement bonus

When you’re ready to retire and activate your Retirement Income Account you may also be eligible for a Retirement Bonus of up to $4,800*.

Find out more.

Flexible payments

You'll be able to choose how much income to take and when you wish to take it, provided a minimum amount, set by the government, is withdrawn each year.

You can withdraw as much as you like above the minimum.

Work out your annual minimum withdrawal amount.

Investment options

Choosing the right investment strategy for your Retirement Income Account can make a significant difference to your retirement income.

We have 19 different options for you to choose from.

Low administration fees

From 30 September, the admin fee for our Retirement Income Account will decrease from $4 to $3 per week, plus 0.10% p.a. of your balance (up to the first $800,000).

There is no fee for regular payments from your account.

Workout your income account fee with our fee calculator.

Not quite there yet? 

If you aren’t ready for retirement but would like to start working less, once you’ve reached your preservation age, a Sunsuper Transition to retirement income account can allow you to supplement your income with regular payments from your super savings while you transition to full retirement.

How to work out your minimum annual payment

You'll be able to choose how much income to take and when you wish to take it, provided a minimum amount set by the government is withdrawn each year. You can withdraw as much as you like above the minimum.

Minimum annual withdrawal amount
 Your age % of account balance
 55-64 4% 
 65-74 5% 
 75-79  6%
 80-84 7% 
 85-90 9%
 90-94 11% 
 95 or older 14% 

* Subject to eligibility and conditions apply.