Did you know...
With an QSuper Pension you can nominate the frequency of the payments you want to receive.

Ann Hill
QSuper member since 1993

A QSuper Pension account allows you to choose how your super is invested while drawing a regular pension in a tax-effective way.

Key features

• Regular income
  You nominate the frequency and amount of payments you want to receive (minimum limit applies).
• Tax benefits
  Transferring your QSuper benefit to a QSuper Pension is tax free. No tax is payable on investment returns and part of your pension may be tax free.
• Investment choice
  Continue to receive investment returns by selecting one of our nine investment options.
• Flexibility
  You can change the amount and frequency of your pension payments and make lump sum withdrawals when you need to. The transition to retirement option does not generally allow you to make lump sum withdrawals except under limited circumstances.

Who can open a QSuper Pension account?

To open a QSuper Pension account you must be a member of QSuper and:

• have a minimum unrestricted non-preserved (cashable) benefit of $30,000, or
• to be eligible for the transition to retirement option you must be over your preservation age and not have met a preservation cashing condition.

You cannot roll monies from other accounts to an QSuper Pension account after it has been opened. You can, however, open a new QSuper Pension account at any time with an additional rollover or lump sum deposit of at least $30,000.

How much can I receive as a pension income?

The Commonwealth Government regulates the minimum annual pension amount you can nominate. Your minimum limit is calculated at the date of purchase of the pension and again at each 1 July thereafter. There is no maximum annual pension amount, except if using the transition to retirement option. To find out the minimum pension amounts you can receive, check our Pension calculator.

Can I make lump sum withdrawals?

Yes, you can. The minimum lump sum withdrawal is $5,000 (unless you are withdrawing the balance of your account) and withdrawals can be made up to four times over a financial year. These types of withdrawals may have tax and social security implications. The transition to retirement option does not generally allow you to make lump sum withdrawals except under limited circumstances.

Before you can take a lump sum withdrawal, Commonwealth legislation requires that you take at least your pro-rata minimum pension payment. For further information please see the product disclosure statement for the QSuper Pension account.