How does a pension account work?
When you retire, a pension fund gives you regular income payments, taken from your super savings, or you can supplement your income while you ease into retirement using a transition to retirement strategy. Investment earnings are generally tax free for retirement income accounts and taxed at up to 15% for transition to retirement income accounts.
Enjoy a regular income
Retirement doesn’t have to spell the end of your current lifestyle. With our account-based pension options, you receive a regular income paid directly to your bank account.
If you’re aged 60 or over, pension payments, lump sum withdrawals, and your fund’s investment returns are tax free.
With a pension account, you’ll have the option to make lump sum withdrawals for those one-off expenses that come up. Any savings you don’t withdraw can stay invested and continue to grow.
Your savings remain invested in the superannuation environment, allowing you to choose the investment option or combination of investment options that best suit your needs.
Things you should know
* The rating is issued by SuperRatings Pty Ltd ABN 95 100 192 283 AFSL 311880 (SuperRatings). For more information about criteria used to rate super products and what the different ratings mean, please refer to SuperRatings’ Ratings and Awards - Super Fund. Ratings are general advice only and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and SuperRatings assumes no obligation to update. SuperRatings uses objective criteria and receives a fee for publishing awards. Visit superratings.com.au for more ratings information and to access the full report. © 2020 SuperRatings. All rights reserved.
^ Discounts and/or tax benefits are subject to eligibility requirements, conditions and own circumstances. Before making any decision, we recommend speaking to a financial adviser and consider the Brighter Super Personal and Pension PDS and Product Guide.