If a loved one has recently passed away, you could receive their superannuation and any insurance benefits they have as regular payments to your bank account. You can do this by opening an Income account with QSuper. While you receive a regular income, your money is invested and can continue to grow.

Benefits of an income stream

Flexible payment options

Control how much and how often you are paid, withdraw extra money at any time, and easily manage your account through Member Online.

Stay invested

As your money stays invested in one of our tailored investment options, it can continue to grow over time.

Potential tax benefits

Depending on your circumstances, you could benefit from tax-free investment earnings and avoid tax on payments or withdrawals.

Who can start a death benefit income stream

There are rules around who is able to open 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 be eligible to open an Income account.

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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. We aim to make our claims process as simple as possible.

Make a claim

How to set up your Income account

If you want to set up a QSuper Income account 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.

Keep in mind that 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 account with us.

Step 1

Complete the Open an Income Account form which can be found at the back of the Product Disclosure Statement for Accumulation and Income accounts (pdf).

Step 2

If your death benefit is with a super fund other than QSuper, they will need to fill out and send us a Rollover Death Benefit Statement (pdf) form. If your death benefit is with QSuper, we do not need this form.

Step 3

Once we have received all superannuation death benefit money we will open an Income account for you and start making payments to your nominated 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, unfortunately we can't combine death benefit money with your existing superannuation stream. This means if you already have a Retirement Income account, you will need to open a separate Income account using your super death benefit.
No, unfortunately you aren't eligible to receive a transfer 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 2019-20 financial year, the transfer balance cap is set at $1.6 million. If you have a number of income streams either at QSuper or across multiple super funds, you need to be aware that 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 refer to QSuper’s Death Benefit Claim Guide (pdf) for more information about Interdependency Relationships.