If a loved one has recently passed away, you could choose to receive their superannuation, including any insurance benefits, as regular payments to your bank account. You can do this by opening our Income account and/or our Lifetime Pension (if you're aged 60-80 and retired). This turns the money you've received into regular income payments to your bank account. 

Benefits of an income stream

Regular payments

With an Income account, you can control how much and how often you are paid, withdraw extra money at any time, and manage your account in Member Online. With a Lifetime Pension, you receive fortnightly payments for life.

Stay invested

You can invest our Income account in a wide range of investment options, so your money can continue to grow over time. Our Lifetime Pension is invested in the QSuper Balanced option.

Potential tax benefits

With an Income account, you could benefit from tax-free investment earnings, payments, or withdrawals. With a Lifetime Pension, you receive tax-free income payments for life.

Who can start a death benefit income stream

There are rules around who is able to receive a death benefit, either as a cash payment or a death benefit income stream. Generally, you must be an eligible dependant of the person who has passed away.

An eligible dependant can include:

  • A spouse (including same-sex or de facto partners)
  • A child under the age of 18, under 25 and financially dependent, or a disabled child (no matter what age)
  • A financial dependant
  • Someone in an interdependent relationship, meaning:
    • In a close personal relationship
    • Living together
    • One or each of them provides the other with financial and domestic support, and personal care.1

Keep in mind that if you are a dependent child receiving a death benefit income stream, we must stop your income payments before you turn 25 and pay you the remaining money as a lump sum, unless you are permanently disabled.

You also need a death benefit of at least $30,000 to open an Income account with it. It can't be combined with your own super.

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Make a death benefit claim

If your loved one was a QSuper member, you will need to make a death benefit claim with us before setting up your Income account and/or Lifetime Pension. We aim to make our claims process as simple as possible.

Make a claim

How to set up your income payments

To set up a QSuper Income account and/or Lifetime Pension with the money from a death benefit, there are a few things you need to do. We understand this may be a difficult time for you, so we aim to make the process as simple as possible.

If your family member was with a different super fund, you'll need to contact them to make a death benefit claim before setting up an income stream with us.

Step 1

Complete the application form at the back of the Product Disclosure Statement for Income Account and Lifetime Pension (pdf).

Step 2

For a death benefit with QSuper, you'll have the option to start a QSuper Income account, and/or a QSuper Lifetime Pension (if you're 60-80 and retired).

If the death benefit is with a super fund other than QSuper, please tell them you want to transfer the money to QSuper. Find the numbers you need to fill in any transfer forms.

Step 3

Once we have received all superannuation death benefit money, we will open an Income account and/or Lifetime Pension for you and start making payments to your chosen bank account.

How death benefit income streams are taxed

The way tax applies to a death benefit income stream depends on the age of the person receiving the benefit, and the age of the person who passed away. To find out more about death benefit income stream tax rates, refer to the Death Benefit Claim Guide (pdf).


Death benefit income stream FAQs Show all Hide all

No, we can't combine death benefit money with your existing superannuation income stream - it can only be received in cash or as a separate income stream.

This means if you already have a Retirement Income account, you will need to open a separate Income account using the death benefit.
No, unfortunately you aren't eligible to receive a retirement bonus by opening an Income account with death benefit money.

Yes, there is a limit on the total amount of money you can transfer to an Income account without paying additional tax. This is known as the transfer balance cap.

For the 2022-23 financial year, the transfer balance cap is set at $1.7 million. If you have a number of income streams (either QSuper income streams with Australian Retirement Trust or income streams from multiple super funds), your combined account balances will all count towards this limit. Visit the ATO website for more information about the transfer balance cap.

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Support when you need it most

We understand this can be a difficult time. Please contact us if you have any questions about setting up a death benefit income stream.

Contact us

1. Please see our Death Benefit Claim Guide (pdf) for more information about interdependency relationships.