A focus on strong performance
SuperRatings' Pension of the Year 4 years in a row4
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An industry-first product to help your clients retire with confidence
In an Australian first, we’ve created our Lifetime Pension product to give your clients an income for life. This ground-breaking product won both Chant West's1 and Pensions & Investments'2 Innovation Awards for 2021, for helping your clients feel more confident about enjoying retirement.
Income for the rest of your client's life and their spouse's life (if eligible), not just for their life expectancy.
Payments can continue to be paid to your client's spouse after they pass away.
Designed to ensure your client gets at least their purchase price back in income payments or a death benefit.3
Clients may receive a discount of up to 60% on the Centrelink income and assets tests.
Our award-winning Lifetime Pension is designed to provide your clients with the potential for higher incomes and greater certainty that this part of their income won't run out. It is a longevity product that works by combining your client’s purchase amount with the money of other Lifetime Pension members into a pool of funds. This product is not an annuity - it is a new product category enabled by legislation changes in 2017.
Clients receive tax-free, fortnightly payments, which continue even after their initial purchase price has been exhausted. This could potentially provide your clients with a higher income throughout retirement than an annuity or the minimum drawdown rates from an account-based pension.
Our Lifetime Pension has been designed to work in tandem with your client's account-based pension, to potentially provide a complete retirement income solution. This will mean that your clients have the peace of mind that their income won't run out, and they'll still have the flexibility of being able make withdrawals from their account-based pension if needed.
If your client uses money from a QSuper Accumulation account or Transition to Retirement Income account to buy a Lifetime Pension, they may be eligible for an exclusive, uncapped retirement bonus.
There is a 6-month cooling-off period, after which the purchase is permanent.
The Lifetime Pension is designed to benefit a range of clients with characteristics such as the below. For more examples, see the case studies in our user guide for Lifetime Pension (pdf).
Receiving or close to being eligible to receive a partial Age Pension and the Pensioner Concession Card.
Looking for longevity protection through an income for life.
Considering providing early gifts now, with the confidence they'll still receive tax-free income payments for life.
To be eligible for a Lifetime Pension, your client must be aged between 60 and up to turning 80 and meet
of the following conditions:
The minimum opening balance is $10,000.
To be eligible for spouse protection, both your client and their spouse must be aged between 60 and up to
QSuper members can either apply in Member Online, or complete and submit the application form in the back
PDS. Or if your client wants to open a Lifetime Pension as an eligible recipient of a super death
use the paper application form.
Non-members will need to open a QSuper Accumulation account first before applying for a Lifetime Pension.
Step 1: Open an Accumulation account using the form in the back of the PDS (pdf). Or if
your client is the
spouse of a QSuper member, they can open an account online.
Step 2: Open your Lifetime Pension using the Open a Retirement Income Account and/or
Lifetime Pension form in
the back of the PDS (pdf). Or if your client is the spouse of a QSuper member, they can start their
Lifetime Pension online.
Attend a webinar, created exclusively for financial advisers.
Dive into the full details of our Lifetime Pension product, so you can advise your client with confidence about their retirement options.