The benefits of Choice Income
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. With Choice Income it’s easy to manage your account online, on our mobile app or over the phone.
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 or maximum percentage of your account balance. Some limits 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, and a maximum of 10% if you’re under 65 and using a transition to retirement strategy.
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
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.