Lifetime Pension:
Information for advisers

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Help your clients make their money last in retirement with our Lifetime Pension. Designed to work with an account-based pension, it's an award-winning product that pays an income for life.

Why choose our Lifetime Pension for your clients

Income for life

Tax-free fortnightly payments for the rest of your client's life, not just their life expectancy.

Spouse protection

Option for your client's spouse to get payments after your client dies (reversionary beneficiary).

Money-back protection

Your client gets at least their money back as income or as a death benefit.1

Age Pension benefits

Some clients may get a discount of up to 60% on Centrelink's income and assets tests.

How our Lifetime Pension works

Here's a quick look at how our Australian-first retirement product can pay an income for life.

  • The money used to buy a Lifetime Pension goes into a pool of funds with other Lifetime Pensions.
  • We invest this pool in the QSuper Balanced investment option for Retirement Income accounts.
  • Your client's payments come from this pool.
  • Payments change each year to reflect the pool's performance and other factors.
  • This makes sure the pool can keep paying everyone an income for life.

We expect payments to increase over time, but they may go up or down.

Cooling-off period

Once your client opens a Lifetime Pension, they have 6 months to decide if it's right for them. After this, it's a permanent purchase.

Use our income calculators

Lifetime Pension Income Estimator

Lifetime Pension Income Estimator

Check how much your client could get in their first year.

Retirement Calculator

Retirement Calculator

Compare income sources like the Age Pension when using different products.

Create a retirement income strategy

You can use our Lifetime Pension with your client’s account-based pension and other income streams to build a complete retirement income solution.

Lifetime Pension
Income for life

Lifetime Pension

Gives security in retirement. Payments won't stop, no matter how long your client lives.

  • Never runs out
  • Potential Age Pension benefits
  • Payments adjusted up or down yearly
Income account
Income for lifestyle

Income account

Adds flexibility. Clients can change their payments and get their money out anytime.

  • May run out
  • Has investment choices
  • Flexible payment options
Age Pension
Income safety net

Age Pension

Some of your clients may become eligible for an Age Pension or get higher payments with a Lifetime Pension.

  • Never runs out
  • Budget lifestyle
  • Payments based on assets and income

Who would benefit from a Lifetime Pension?

There's many situations where our Lifetime Pension could help your clients.

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    Part pension

    Getting or close to getting a part Age Pension and the Pensioner Concession Card, and wanting more income in retirement.
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    Good health

    Looking for greater certainty that their money won't run out, even if they live longer than their life expectancy.
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    Financial gifting

    Wanting to make early bequests, while confident they'll get tax-free income payments for life.

For more examples, download the case studies in our guide for financial advisers (pdf).

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Internationally recognised

Our Lifetime Pension is a market leader, winning both national and international awards for helping people make their super last in retirement.2

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Retirement Bonus

Your eligible clients may get a bonus when they open a Lifetime Pension with money from their QSuper Accumulation or Transition to Retirement Income account.


Want to know more?

Learn why our Lifetime Pension has won multiple awards. Make an appointment with one of our business development managers today.

Lifetime Pension FAQs for financial advisers Show all Hide all

There are a few key differences between our Lifetime Pension and a traditional annuity.

  1. Lifetime Pension is linked to the market. So it generally gives a higher income compared to an annuity that pays a fixed income for life.
  2. It's designed to be a lower-cost product and have higher payments than a traditional annuity. But the rate of income isn't guaranteed, and payments can go up and down each year, depending on how the pool performs. 
  3. Lifetime Pension payments will continue for the rest of your client’s life. An annuity typically has payments for the client's anticipated life expectancy, with an added option for payments until death.
  4. Your client's money must be within the super system to open a Lifetime Pension. A registered life insurance company can only issue a traditional annuity.

To start a Lifetime Pension, your client must be aged between their 60th and 80th birthdays. The minimum opening balance is $10,000. They also need to meet one of these conditions:

  • Aged over 65 years
  • Permanently retired
  • Ended an employment arrangement after turning 60
  • Got an eligible death benefit
  • Met another approved condition of release that let them access their super early.

If your client chooses spouse protection, their spouse must also meet one of the conditions above. There's no upper age limit for spouses as we calculate income payments on whoever's the youngest in the couple.

If your client already has a QSuper account, they can open a Lifetime Pension in Member Online

If your client doesn't have a QSuper account, they'll need to open a QSuper Accumulation account before applying for a Lifetime Pension.

Step 1:
Fill in the form called Open an Accumulation Account for Lifetime Pension applicants. It's in the back of the QSuper Product Disclosure Statement for Accumulation Account (pdf)
Step 2:
Fill in the form called Open a Lifetime Pension – for non-QSuper members only. It's in the back of the QSuper Product Disclosure Statement for Income Account and Lifetime Pension (pdf)

If your client is the spouse of a QSuper member, they can apply to join QSuper.

Need help? Book an appointment with us today.

Can't find an answer to your question? Try our full list of FAQs for financial advisers. Or call us on 1300 360 750 and select option 3 for advisers.
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Together it's more super

QSuper is part of Australian Retirement Trust, one of Australia's largest super funds. We're building on a strong legacy of working with financial advisers to help our members, your clients, truly live well in retirement.

Want to know more?

Find out how our Lifetime Pension could help your clients retire with confidence. Make an appointment with us today.

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1. Money-back protection may be subject to legislative maximums and adjustments for negative returns. Get more details in the QSuper Product Disclosure Statement for Income Account and Lifetime Pension (pdf).
2. Awards are only one factor to be taken into account when deciding to invest. Past performance is not a reliable indicator of future performance.