How can I draw an income from my super?

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Super and funding your retirement

You may or may not be well on the way to organising your retirement plan and calculating how much super you'll need. Either way, have you thought about how you can use your super to provide an income in retirement?

Once you’re eligible to access your super, there are several ways you could use your super, here are a few:

  • Open an account-based pension – AustralianSuper’s account-based pension is called Choice Income
  • Start a Transition to Retirement Strategy
  • Take your super as a lump sum

What's an account-based pension?

An account-based pension allows you to draw an income from your super while keeping the rest invested. Ours is called Choice Income and it’s a proud winner of a Canstar Outstanding Value award for account based pension3. Learn more about how it works in this video. 

What's an account-based pension?

Video thumbnail: What is an account based pension

Managing your super, your way

Whatever your situation, being in control of your finances is one of the main factors to feeling confident in retirement1. Retirement planning, knowing your options and staying focused on your needs can all help you make the right choice for you.

When you retire, you might think the normal thing to do is take your super as a lump sum, but that’s not necessarily the case. You actually have a range of options for drawing income from your super, including taking advantage of an account-based pension.

Remember: how you manage your super in retirement is up to you

Q&A: When and how can you access your super?

Do you know when you can access your super and how it works? Host Shane Hancock talks to Education Manager Peter Treseder about accessing your super – from age requirements to options for drawing an income from super. 

Need more help?

Got a question about super or retirement? Head over to our Help & Support centre for our frequently asked questions directory and more help options.

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