How Choice Income helped Dale
Proud winners of the Canstar Outstanding Value Award for Account Based Pension4
OPEN A CHOICE INCOME ACCOUNT
How does a Choice Income account based pension work?
Turn your super into a regular income
Receiving regular payments – just like a salary – allows you to plan how much you spend in retirement. You can also use the income from your Choice Income account to top up any Government Age Pension payments you’re eligible for.
Control how often you’re paid
Set up how much and how often income gets paid into your bank account. Plus access extra money from your super to pay for bills, holidays or other expenses any time. If you’re 60 or over, regular income payments and withdrawals are tax free.
Keep growing your super
A Choice Income account could make your money go even further because your super stays invested after you’ve retired. Decide exactly how you want your savings invested or let our investment experts manage it for you.
See how Choice Income could make a difference
Even in retirement, our history of strong performance has given AustralianSuper members an advantage over the long term with an average annual return of 8.11% over the last 10 years to 31 March 2025 for the Choice Income Balanced option.5 And being with a top, long-term performer could make a big difference to how long your retirement savings last.
The following table compares AustralianSuper’s Choice Income net benefit against the average super fund and the average retail super fund. It shows how a member’s balance would have grown over 10 years to 31 December 2024, whilst still drawing a regular retirement income.
| Net benefit | ||||
|---|---|---|---|---|
| Starting balance | Average yearly income payment over 10 years | Investment earnings over 10 years (less fees and costs) | Balance after 10 years | |
| AustralianSuper Choice Income account - Balanced option | $300,000 | $20,700 | $294,500 | $387,800 |
| All super funds (average) - Balanced option | $300,000 | $19,200 | $241,100 | $348,900 |
| Retail super funds (average) - Balanced option | $300,000 | $18,500 | $212,400 | $327,900 |
Net benefit refers to investment earnings to 31 December 2024 (less administration, investment fees and costs, transaction costs and taxes). Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns6.
The table above shows that if a member retired 10 years ago and started with a balance of $300,000 in an AustralianSuper Choice Income account – and withdrew on average $20,700 each year over 10 years as regular income – the balance would have grown to $387,800.
When to open a Choice Income account
If you're over 60 and retired, stopped working for an employer after turning 60, or turned 65, you can open a Choice Income account to access some of your super when you need it and leave the rest invested.
You’ll need a minimum balance of $50,000 to deposit into your new Choice Income account. It might also be a good idea to consolidate your super7 before you start as you can’t add money to a Choice Income account once you’ve opened it.
Not quite ready to retire?
A transition to retirement (TTR) strategy could help you work less and top up your take-home pay while you ease into retirement. Find out how a TTR Income account could work for you8.
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Important things to consider
- Thinking Ahead Institute, Global top 300 pension funds, September 2024.
- APRA Quarterly superannuation fund level statistics December 2024. Released March 2025.
- Readers Digest Most Trusted Brands – Superannuation category winner for 13 years’ running 2013–2025, according to research conducted by research agency Catalyst Research. Awards and ratings are only one factor to be taken into account when choosing a super fund. Read the full methodology.
- AustralianSuper received the Canstar Outstanding Value Award – Account Based Pension in 2018-2024. Read the full methodology here. Awards and ratings are only one factor to be taken into account when choosing a super fund.
- AustralianSuper Balanced investment option compared to the SuperRatings Pension Fund Crediting Rate Survey - SRP50 Balanced (60–76) Index to 31 March 2025. Investment returns aren’t guaranteed. Past performance is not a reliable indicator of future returns.
- Comparisons modelled by SuperRatings, commissioned by AustralianSuper. The outcome shows the average difference in ‘net benefit’, a measure of past investment returns after administration and investment fees and costs, transaction costs and taxes have been taken out. The results compare the AustralianSuper Choice Income Balanced investment option and comparable pension balanced options, for historical periods to 31 December 2024. Other fees and costs may apply. Outcomes vary between individual funds. The model uses return and fee data that is submitted to SuperRatings. The model assumes: a starting age of 65 commencing 1 January 2015 and finishing on 31 December 2024; a starting balance of $300,000; and a drawdown rate of 6% p.a. Insurance premiums and other fees and costs may apply. Figures have been rounded to the nearest $100. See Assumptions for more details about modelling calculations and assumptions. Investment returns aren’t guaranteed. Past performance is not a reliable indicator of future returns.
- Before making a decision to combine your super, consider any fees or charges that may apply, and the effect a transfer may have on benefits in your other fund such as insurance cover. We recommend you consider seeking financial advice. If you wish to claim a tax deduction for personal super contributions, you must lodge a notice of intent to claim a tax deduction with your other fund before you combine your super.
- Transition to Retirement (TTR) can be complex and isn’t suited to everyone. It’s a good idea to get financial advice before deciding if a TTR Income account is right for you.
- Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd. Fees may apply.
- Thinking Ahead Institute, Global top 300 pension funds, September 2024.