Our Retirement Income Strategy
We’re Australia’s largest super fund1 and one of the top 20 largest pension funds globally2. One in seven working Australians is a member of AustralianSuper3, and with more than 1 million members retired, semi-retired or nearing their retirement4, our ambition is that all Australians live well in retirement.
We’ll know we’re making a difference when retirement feels easier to understand and plan for, and when members are more financially ready to enjoy life after work. To get there, it means removing the barriers and challenges Australians currently experience when moving into retirement.
Our Retirement Income Strategy is built on member research and analysis. It’s designed so members can maximise their retirement income, keep that income stable and sustainable, and provide access to their savings when they need it. We do this through identifying the right mix of investment options, income stream products, guidance, service and experiences.
Whether you’re working towards retirement or ready to embrace life after work, our Retirement Income Strategy shows we’re committed to helping members achieve their best possible retirement.
'We’re strengthening our retirement capability to help members live well in retirement.'
Jacki Ellis, Head of Retirement
Retirement is personal but can be complex
Retirement isn’t a one-size-fits-all. Many members ease into retirement gradually by getting a taste for life after work. While others move in and out of paid work for different reasons. 20% of members with an account-based pension are still in paid work5. It’s no longer a single moment – it’s a journey.
We know members have diverse financial situations, goals and lifestyles. The income they’ll need for the kind of lifestyle they desire in retirement depends on when and how they retire, their income sources and lifestyle costs.
Additionally, the retirement system can be complex to understand and navigate. Australians not only have to manage their super for retirement but learn how super can complement any government benefits like the Age Pension.
That’s why we’re advocating for a retirement system that’s simpler, more flexible and better suited to the way Australians live and retire today and in the future. When the system works better, members will feel more confident and in control of their future.
"Only 46% of Australians feel confident they will live well in retirement.”6
Understanding the needs of members
Through in-depth research and real conversations with members, we’ve spent time listening to what matters most to them. We’ve heard their hopes, their concerns and the challenges they face throughout their retirement journey.
What we’ve learned is clear: every member’s retirement is unique, but they want to feel confident they’ll be okay.
That’s why we’re focused on delivering what matters most:
- Personalised support and guidance to help members have clarity and confidence in their retirement journey.
- Trust and reassurance they’re set up for success in retirement to get the most out of their super.
- Confidence to enjoy spending their savings in retirement without worrying they’ll run out.
How we’ll deliver a better future for members
-
A retirement solution for every member
Around 63% of Australians aged 65 and over receive income support payments (predominantly Government Age Pension)7, and research suggests that less than half of Age Pensioners applied for the Age Pension immediately when they became eligible, missing out on income they were entitled to8.
We know that helping retirees understand how much of their savings they can comfortably spend and do so confidently is key to living well in retirement. Our research shows that 87% of respondents found a Lifetime Income product appealing9, because they wouldn't have to worry about their super running out.
That’s why we’re working to deliver retirement solutions that work harder for members:
- Simple and innovative products with low admin fees and flexible investment options for every life stage.
- A new Lifetime Income product designed to complement our existing products so members can confidently spend knowing their income will last for life.
- New solutions and offers to meet the diverse needs of members, including support with the Government Age Pension to educate members on their eligibility and access income they deserve.
-
Guiding members to live well in retirement
73% of members say they’d trust advice from their Fund if it were specifically tailored to their circumstances10. And over 500,000 members accessed guidance from the Fund in FY2411.
We know the more prepared members are for retirement, the more confident they’ll feel to make informed decisions. That’s why we’re making it easier to take the next step through:
- Smart options and proactive ‘next step’ prompts to help support decision-making.
- Personalised guidance to support members through important decisions as they move towards and into retirement.
- Easier access to education and advice options from simple personal advice12 to more comprehensive advice13 and online tools to self-serve.
-
Making retirement simpler, smarter and more secure
More than ever, members are using our website and mobile app for support on their retirement journey. Over one million members used the app in the 2023/24 financial year14, which continues to grow as more people choose an easy way to manage their super.
We believe that transitioning into retirement should be flexible and easy. That’s why we’re investing in smarter systems and innovative technologies so every interaction feels personal and seamless such as:
- Stronger security systems and anti-fraud protection to keep members’ money and data safe.
- Transforming our service model that makes the process to join or move into retirement easier.
- Connected data and member experiences so every interaction is consistent and tailored to members’ needs.
4 ways we’re delivering today for members
Working and growing their savings
Working towards their transition
Ready to retire
Advocating for members
Support and guidance for members
Award-winning superannuation17
-
Important information
- Source: APRA Quarterly Superannuation Fund-Level Statistics, December 2024. Published 11 March 2025.
- Thinking Ahead Institute, Global top 300 pension funds, September 2024. AustralianSuper ranked 16th out of 300 global funds.
- Source: Australian Bureau of Statistics (Labour force) and AustralianSuper Member Data, December 2024.
- AustralianSuper data 30 June 2024.
- AustralianSuper Retirement Cohorts Pilot Research. Data collected between 19 January 2023 and 13 February 2023. Released 30 May 2023. For the study, the Fund surveyed 5,916 members aged 50 years and above. 20% is based on 3,082 retirees who had opened an account-based pension (Choice Income).
- The AustralianSuper Retirement Confidence Study was completed by a nationally representative split of Australians aged 18+ with a total sample size of 5,061. The survey was completed in April-May 2024 by research provider Fiftyfive5.
- Income support for older Australians. Australian Institute of Health and Welfare, 07 September 2023, https://www.aihw.gov.au/reports/australias-welfare/income-support-older-australians
- Only 44% of Age Pensioners applied immediately. 32% of Age Pensioners delayed their applications by more than 12 months, forfeiting up to approx. $27k per year – Link Group, Retirement Reality: Advice and the Age Pension, July 2022.
- AustralianSuper Lifetime Income Member Concept Test Results. Released August 2024. 87% of the 398 people surveyed about the AustralianSuper Lifetime Income concept.
- SMC Retirement Phase of Super Treasury Consultation response, February 2024.
- Google Analytics. (internal data reporting). Digital Guidance Dashboard. Retrieved May 20, 2025.
- There’s no charge for general advice about your super account. The financial advice you receive will be provided by MUFG Retire360 Pty Limited ABN 36 105 811 836, AFSL 258145 and will be their responsibility. Personal advice provided may attract a fee, which will be outlined before any work is completed and is subject to your agreement.
- Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd. Some personal advice may attract a fee, which would be outlined before any work is completed and is subject to your agreement. With your approval, the fee for advice relating to your AustralianSuper account may be deducted from your AustralianSuper account subject to eligibility criteria.
- AustralianSuper 2024 Annual Report, page 34.
- AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450, AFSL 237848.
- Transition to Retirement (TTR) can be complex and isn’t suited to everyone. It’s a good idea to get financial advice before deciding if a TTR Income account is right for you.
- Awards and ratings are only one factor to be taken into account when choosing a super fund.
- AustralianSuper received the Canstar Outstanding Value Award – Superannuation in 2011-2025, and Outstanding Value Award – Account Based Pension in 2018-2024. Read the full methodology for super here and for account based pension here.
- Readers Digest Most Trusted Brands – Superannuation category winner for 13 years’ running 2013–2025, according to research conducted by research agency Catalyst Research. Awards and ratings are only one factor to be taken into account when choosing a super fund. Read the full methodology.
- Roy Morgan Most Trusted Brand in Superannuation for 2022-2023 and Most Trusted Brand in Superannuation/Wealth Management in 2024 according to research from the Roy Morgan Risk Monitor.