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.

Proud winners of a Canstar 5-Star Rating for account based pension

What is an account based pension?

An account based pension is an alternative option to receiving super as a lump sum. Opening an account based pension means receiving regular income payments while your super stays invested – giving you the potential for more investment returns throughout your retirement.

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


Turn your super into a regular income

Receiving regular payments just like when you were working means you can enjoy your retirement. You can use the income paid from your Choice Income account to top up Government Age Pension payments you’re eligible for.

Illustration of woman under umbrella

Flexibility and control

You can set up your account in a way that suits you with the amount and frequency of your income payments – you’re never locked in. 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 allows your savings to continuously grow. You can have peace of mind knowing that AustralianSuper has a history of long-term strong returns*.

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?

Find out what Balance Booster is and how it works.

learn more

Set up your account in a way that suits you 

And the best part is your Choice Income account is flexible, so you can change your payment and investment options at any time.


Take it easy with Smart Default

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.

Setting up with Smart Default means

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

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

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.

Choosing how often and how much income you want

  • 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.  

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

Choice Income Product Disclosure Statement - pdf, 3.4MB

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

^AustralianSuper received the Canstar 5-Star Rating for Outstanding Value Account Based Pension in 2019. Full methodology available here.

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

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