Enjoy life after work with our award-winning Retirement Income account

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Turn your super into income

You don't need to withdraw all your superannuation when you stop working. With a Retirement Income account, you can turn your super into an income stream. As your money stays invested, your savings can continue to grow.

Potential tax benefits

A Retirement Income account can help maximise your savings, with tax-free investment earnings and no tax on payments or withdrawals after you turn 60.

Strong long-term performance

The default investment option for our Retirement Income account has produced double digit growth over the last 10 years.

This result is driven by a unique investment approach that aims to provide strong returns with less risk.

10.42% p.a.

10-year annual return - Balanced option 1
(Retirement Income account)

Award-winning

When QSuper wins, our members win.

Our Income Account has won a number of awards in 2019, including Money Magazine’s Best Pension Fund Manager and SuperRatings Pension Fund of the Year.

moneymag superratings

Retire with a fund you can trust

Find out why more than 40,000 Australians have partnered with QSuper in retirement.

Flexible payment options

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

Strong long-term performance

Choose from our range of investment options, including our performance-topping Balanced option.2

Simple, transparent fees

We’re profit for members, not shareholders – so we aim to keep fees low.

Test

A bonus when you retire

You may be eligible for a transfer bonus when you open a Retirement Income account. Log in to Member Online to see your estimate.

Check your eligibility

Before you open a QSuper Retirement Income account, make sure you meet the following conditions:

Be over age 65

If you are under age 65, there are restrictions around when you can open a Retirement Income account.3

Reached your preservation age and permanently retired

You need to have reached your preservation age (between age 55 and 60, depending on when you were born) and be retired from work.3

Minimum $30,000

You'll need a balance of at least $30,000.

Be a QSuper member

If you're not a QSuper member, you can easily join online.

Understand your limits

There is a limit on the total amount of superannuation you can transfer to a Retirement 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. This cap will be indexed, and increases will be in increments of $100,000.

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. Visit the Australian Taxation Office's website for more about the transfer balance cap.

If you go over the transfer balance cap, the ATO will let you know that you need to remove the excess amount, plus any associated investment earnings, from your Retirement Income account. They will also charge you a tax on those earnings. For a first breach, you will be subject to 15% tax, with subsequent breaches subject to 30% tax. You will not be considered as having gone over the cap if your Retirement Income account balance grows to more than $1.6 million due to investment earnings.

If you're concerned that this limit might impact your retirement plans, you should seek financial advice.

Find out more

Learn how superannuation works in retirement

Attend an exclusive member seminar

Connect with a professional adviser

Read our Income Account Guide (pdf)

1. For the financial years 2009 to 2019. Past performance is not a reliable indicator of future performance. QSuper’s Retirement Income account, Balanced option only. The return is a compound annualised return reflected after administration fees, investment fees and tax. Disclosed/reported investment returns reflect the returns of the fund and not member returns of the investment options as they do not take into account the timing of contributions, investment switches or withdrawals.
2. QSuper Balanced Option awarded #1 performance over 10 years by SuperRatings. SuperRatings SR50 Balanced Index (60-76) median based on cumulative returns compounded annually after fees and for initial $50,000 invested over the period to 28 February 2019. Based on funds open to the public. Past performance may not be a reliable indicator future performance.
3. There are other limited circumstances where you may be able to open an Income account. Refer to the Income Account Guide.