Set up your TTR Income account in a way that suits you
We have investment options to suit everyone’s retirement goals. You can leave your investment choice to us by choosing our Smart Default option, or, if you’re a savvy investor, choose your own.
Your TTR Income account is flexible, so you can change your payment amounts (between the minimum and maximum percentage of your account balance each year) and investment options at any time.
When you join you can use the Smart Default option, or choose your own investment and payment options.
Choosing the Smart Default option
With Smart Default your payments and investment options are pre-selected, modelled and managed by investment experts. This means you’re:
- invested in 12% Cash and 88% Balanced investment option
- initially receiving at least 6% of your balance each year; and as you get older this minimum amount will change (see table below),
- paid every two weeks, and
- can change your payment and investment options at any time.
Smart Default drawdown amounts in 2021-22
In financial years 2019-20 and 2020-21, we temporarily reduced the Smart Default drawdown amounts so members aged 80 years and over could manage their income payments differently during difficult times. We're extending these reduced amounts to 30 June 2022.
For Smart Default members under 80 years on 1 July 2021, your payment amounts will remain 6% of your account balance in 2021-22*. (see table below)
Current Smart Default members will receive an email or letter in July 2021† to confirm their payment amounts for the financial year 2021-22. You don’t have to do anything, unless you choose to change your payment amount‡. You can do this anytime by logging into your online account.
For details, visit australiansuper.com/MinimumDrawdowns
*Unless you change your payment amounts or your balance runs out.
†In May 2021, you may have received an email or letter about changing Government minimum drawdown amounts from 1 July 2021. These changes no longer apply due to the Government's announcement on 29 May 2021.
‡Maximum withdrawal limits apply for TTR Income members.
|Smart default option – Percentage of your balance you’ll receive each year|
|Your age on 1 July||TEMPORARY DRAWDOWN Rates
END 30 JUNE 2021§
|DEFAULT DRAWDOWN Rates START
FROM 1 JULY 2021‖
|80 to 84||6%||7%|
|85 to 89||6%||9%|
|90 to 94||6%||11%|
|95 and over||7%||14%|
§The temporary Smart Default drawdown rates are for the financial years 2019-20, 2020-21 and 2021-22 only, and end 30 June 2022.
‖The default minimum drawdown rates for Smart Default apply from 1 July 2022, for the financial year 2022-23 onwards.
Choosing your own options
If you choose your own options, then you can