Retirement income account

You worked hard for your super. Make your super work for you, by turning it into a reliable source of income.

Make your super go the distance 

Did you know you don’t have to take your super as a lump sum when you reach retirement age? You have other options.

Opening a retirement income account means receiving regular income payments while your super stays invested – giving you more potential investment returns through your retirement.

With our retirement income account – Choice Income – you can access extra money from your super whenever you need it, if larger expenses pop up.

The benefits of Choice Income


Get regular payments

You can combine these with the Government Age Pension


Pay less tax

Retirement Incomes may help reduce the tax you pay on retirement savings


Keep investing

Your super savings will continue to be invested through your retirement 

Ready for the cherry on top?

Find out how you could boost your balance for a sweeter retirement.

Learn more

“I thought once we retired we wouldn’t be able to travel anymore. But after four years, we had more money than we started with.”

- Anne, AustralianSuper member

“I thought once we retired we wouldn’t be able to travel anymore. But after four years, we had more money than we started with.”


Take it easy with Smart Default

Leave the decisions to us now, but change your options later if you need to

Smart Default will turn your super into a lasting income that can last up to 20 years or more. It’s the easy way to set up your account - your payments and investment options are modelled and managed by a trusted team of investment experts.

Setting up with Smart Default means:

•    you’re invested in 12% Cash and 88% Balanced
•    you receive at least 6% of your balance each year*
•    you’ll get paid every two weeks

The best part is that your Choice Income account is still flexible – you can change your payment and investment options at any time.

* A higher percentage will apply if you are over age 80.

Flexible options

You can choose how your account is set up

If you set up your account with Smart Default, your payments and investment options will be pre-selected. If you prefer, you can select your options yourself. Choose how often you receive income payments and how much those payments will be. You can set the payments as a fixed amount, or the minimum percentage of your account balance. Some conditions apply:

•    you must be paid at least once a year, or you can choose to be paid every two weeks, once a month, once every three months or twice a year, and
•    you must be paid a minimum percentage of your account balance each year.

You also have the freedom to choose your own investment options. To get to know our options and how they can help you achieve your best retirement, head to our Your investment options page.

Important things to know about Choice Income

Get super support while you keep working

If you’d like to ease into retirement or save for longer, you may want to keep working and start a Transition to Retirement strategy.

Find out more

Open and manage your Choice Income account online

Open your account

Save time and open your Choice Income account online. Fill out the online form at your convenience - you can even save it and come back to it later if you need to.

Manage your account

Once your Choice Income account is set up, it's easy to register for an online account, and download the AustralianSuper mobile app.

You can access your account online and via the app 24/7, giving you more time to focus on the things that matter to you.

You can do things like:

  • change your payment frequency
  • check your account balance, transactions and Centrelink schedule
  • change your investment options
  • request one-off additional payments, if you're eligible.

Nominate a beneficiary

Be confident your money will end up in the right hands. Nominate a beneficiary today.

learn more

Choice Income Product Disclosure Statement - pdf, 3.3MB

For people retiring and needing to draw an income from their savings in a tax-effective environment

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