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Life can be complicated, so we like to keep things simple. Your Sunsuper for life membership includes access to both a Super-savings account to help save for your future and an Income account for when you are transitioning to retirement or when you have retired.

Sunsuper for life

Sunsuper for life is a super solution that will help you manage your super from your very first day of work and throughout your retirement. 

You'll have access to both a Super-savings account to help save while you are working that you can normally take with you when you change jobs, and an Income account to receive a regular income when you are retired or transitioning to retirement (once eligible)

When you are nearing retirement, but still working, subject to some rules set by the government, you can activate your Income account to receive regular payments from your super to supplement your income. You can also continue to save for your retirement in your Super-savings account. You may even be able to get tax benefits to help you grow your super balance. Then, when you retire you can receive a regular payments from your Income account or you can withdraw some or all of your account balance when you need it.

Here's how Sunsuper for life works

Super-savings account

  • Contributions and rollovers go into your Super-savings account
  • Your balance is invested and your super grows over time
  • You have a choice of 20 different investment options
  • If you’re eligible, you’ll receive Death and/or Total & Permanent Disability Assist cover automatically when you join Sunsuper
  • When you retire, you can withdraw your money, or you can open an Income account and receive regular payments
  • Investment earnings are generally taxed up to 15%
  • Generally, you can’t make a withdrawal until you reach your preservation age (although it can be accessed earlier in limited circumstances)

Income account

If you want to receive your super as regular payments when you retire (or transition to retire) instead of all at once, you can activate your Income account.

  • Receive regular payments of your super to supplement income when you start winding down work (Transition to retirement)
  • Receive money as regular repayments when you retire (Retirement)
  • Withdraw some or all of your balance when you need it
  • There are no exit fees for partial lump sum withdrawal
  • Investment earnings (returns) are generally tax free for Retirement Income accounts, and taxed at up to 15% for Transition to retirement Income accounts.
  • You can manage your Income account online using Member Online
  • Receive a Retirement Bonus of up to $4,800 when you open a Retirement income account (subject to eligibility and conditions apply)

We keep everything pretty simple, including joining. Get started today. Or, if you just want to get some advice, contact us.