There is a limit on the total amount of superannuation you can transfer to a Retirement Income account. This is known as the transfer balance cap.
For the 2023-24 financial year, the transfer balance cap is set at $1.9 million.
This cap will be indexed, and increases will be in increments of $100,000. The amount of indexation that you'll be entitled to will depend on how much of your transfer balance cap you've used. If you meet or exceed your transfer balance cap, you won't be entitled to indexation.
If you have a number of income streams or pension accounts (not including Transition to Retirement Income accounts), either at QSuper or across multiple super funds, you need to be aware that your combined account balances will all count towards this limit. Special rules apply for lifetime pensions. Visit the Australian Taxation Office's website for more about the transfer balance cap.