Refresh your income account and top-up your savings

Complete the Refresh your income account and top-up your savings form if you have a income account (TTR Income or Choice Income) and you want to boost your income balance using money from your AustralianSuper super account. Plus, by using this form you’ll be able to keep some of your current income account settings.

Once we receive your completed Refresh your income account and top-up your savings form, we’ll close your current income account (unless you tell us not to) and move that account balance plus your additional money to a new income account.

Important tip: before you submit your application, download your current statements and transaction history. You won’t be able to see them once your new income account is opened.

The fastest way to return your completed form is online. Type ‘Refresh your income account and top-up your savings’ in the document name field and select the form.

Once we receive your completed application, it normally takes 3–5 business days to process.

If we require more information to set up your account, we’ll contact you within 3–5 days of receiving your application.

You’ll receive an email or letter (depending on your communications preference) to confirm your new account is set up and ready for you to access.

If you’re closing your existing account(s), you’ll also receive an Exit Statement for your old account(s).

If you’re completing the Refresh your income account and top-up your savings form.

In the last 24 months, if you’ve previously provided certified ID documents or passed electronic verification for an AustralianSuper income account application or a change to your income account, and haven’t changed your name, date of birth, address, bank account details or mobile number, you don’t need to provide these again.

In step 7 on the form, simply choose (x) the appropriate option and then go to step 8.

Yes. Please contact your financial adviser, and they’ll help you to refresh your income account and top-up your savings.

If you want to top-up your income account balance with money from another super fund or a self-managed super fund (SMSF), please complete the TTR Income or Choice Income online join form Alternatively, complete the TTR Income or Choice Income join form in the relevant Product Disclosure Statement (PDS).

Important tip: you must tell us your current income account details by:

• completing step 4 e) f) g) on the paper form, or
• adding your account in the ‘Start adding money to your account’ section of the online form.

Your new income account will need to have a minimum balance of $10,000. If you want to keep your existing AustralianSuper super account(s) open, make sure you leave at least $6,000 in it.

The government has a lifetime limit on the amount of super you can transfer into any tax-free retirement account(s). This is called the 'transfer balance cap'. From 1 July 2025, the general transfer balance cap is $2 million for individuals commencing their first retirement income account.

Depending on when your first retirement income account commenced, you may have a personal transfer balance cap between $1.6 million and $2 million.

Important tip: if you have a TTR Income account, the transfer balance cap won’t apply. However, when you retire, or stop working for an employer and tell us, we’ll switch your TTR Income account to a Choice Income account. When you turn 65, this will automatically happen. Your balance will then count towards the transfer balance cap.

View your personal cap amount at any time, by logging into your myGov account and going to the Australian Taxation Office (ATO) section at  my.gov.au

If you have Member Direct holdings in your AustralianSuper super account and you want to transfer them to your current Choice Income account, please download and complete the Seamless Transfer of your Member Direct account form.

Because Member Direct isn’t available for TTR Income accounts, you can either:

• keep your super account open to keep your Member Direct holdings, or
• sell your Member Direct holdings before closing your super account.

If you want to open an additional income account, and keep your current account(s), please complete the TTR Income or Choice Income online join form.

Alternatively, complete the TTR Income or Choice Income paper join form in the relevant Product Disclosure Statement (PDS).

Important tip: you must tell us your current income account details by:

• completing step 4 e) f) g) and choosing (x) ‘No’ under 4f) ‘Do you want to transfer your entire balance’ on the paper form, or
• adding your account in the ‘Start adding money to your account’ and telling us to keep your account open on the online form.

Yes. In step 3 b) ‘Do you want to transfer your entire balance’ on the Refresh my income account and top-up my savings form, choose (x) ‘No’ and nominate the amount you want to keep. If you want to keep your existing AustralianSuper super account(s) open, make sure you leave at least $6,000 in it.

Until we receive your completed form and are ready to transfer your money to your new income account, your money will stay invested in your current income account and/or super account(s).

Because your money is moving within AustralianSuper accounts, there shouldn’t be any day it’s not invested. However, all investment returns are subject to market performance.

You'll pay administration and investment fees for any super and income accounts for the time they remain open.

Using the Refresh your income account and top-up your savings form, means your income payment amount, income payment frequency and bank account details in your current income account  will stay the same in your new income account.

Your investment strategy in your existing super account will be carried across to your new income account. After your new account has been set up, you can adjust your account settings in your online account.

Important tip: if your income payments in your new account are less than the minimum payment required by law, AustralianSuper will set this to the minimum payment amount.

Alternatively, if you’d like to adjust these prior to setting up your new account, please complete the TTR Income or Choice Income join form in the relevant Product Disclosure Statement (PDS). Remember to enter your current income account number and details in step 4 e) f) g).

Your member number for your income account will stay the same, however you’ll receive a new account number for your new income account.

Your current communication preferences will remain the same in your new income account.

Income payments won’t be made from the time your current income account is closed and your new account is set up.

Important tip: if you haven’t received the pro-rata minimum payment for the financial year, you may receive an additional income payment from your current income account.

If you’re receiving the Government Age Pension, opening a new Choice Income account may affect your Centrelink entitlements. You may wish to seek further advice.

If you've made personal contributions to your super and want to claim a tax deduction, make sure you submit your claim and receive confirmation before using that money to refresh your income account and top-up your savings.

Depending on your circumstances, you may be eligible to receive an additional credit (Balance Booster) to your income account balance. Find out more about Balance Booster.

You’ll need to leave a minimum balance of $6,000 in your AustralianSuper super account for it to remain open. If you want to keep your insurance cover, you’ll need to have enough money in your super account to pay for it. To understand how to maintain cover, read the Insurance in your super guide for your division.