Our account-based pension

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

What is an account-based pension?

Did you know taking your super as a lump sum when you reach retirement age isn’t the only option?

Opening an account-based pension (or retirement income account) means receiving regular income payments while your super stays invested – giving you more potential investment returns through your retirement.

With our account-based pension – Choice Income – you can access extra money from your super whenever you need it.

The benefits of Choice Income

  • Turn your super into a regular income
    Receive regular payments just like when you were working so you can enjoy your retirement. You can use payments from your Choice Income account to top up any Government Age Pension payments you’re eligible for.

  • Flexibility and control – you’re never locked in
    Set up your account in a way that suits you with flexibility and control over the amount and frequency of your income payments.  You can withdraw extra money to pay for bills, holidays or other big ticket items any time.

  • Keep your super working for you
    Keeping your money invested once you’re retired means your savings continue to grow  and you’ll have  peace of mind knowing that AustralianSuper has a history of long-term strong returns*. 

  • Sweeten your retirement with a Balance Booster
    When you move your AustralianSuper super account or TTR Income account to Choice Income, you could be eligible to receive an additional credit to your retirement balance, a ‘Balance Booster’.

“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.”

elderly-couple-chatting

Set up your account in a way that suits you 

Take it easy with Smart Default  

Smart Default is the easy way to set up your account. Leave the decisions to us now, but change your options later if you need to. Your payments and investment options are pre-selected, modelled and managed by a trusted team of investment experts, who specifically designed this option for Choice Income members.

* Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns. 

Choose your own options

If you prefer, you also have the freedom to choose your own investment options, as well 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.

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

Ready for the cherry on top?

When you move your AustralianSuper super account or TTR Income account to Choice Income, you could be eligible to receive an additional credit to your retirement balance, a ‘Balance Booster’.

What's Balance Booster?

Important things to know about Choice Income

Choice Income Product Disclosure Statement - pdf, 2.6MB

Open a Choice Income account

It only takes a few minutes to open your Choice Income account. Already a member? Log in and we’ll complete some of the details for you. Ready to get started?

Open Now

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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