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 strong returns over the last 10 years.

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

8.98% p.a.

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

Award-winning

Australia's most awarded retirement account in super2

Our Retirement Income Account has won a number of awards, including Money magazine’s Best Balanced Pension Product3 and SuperRatings Pension of the Year.4

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.5

Simple, transparent fees

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

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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

 

You can open a Retirement Income account if you meet at least one of the following conditions:

You will also need to have a super balance of at least $30,000 and be a QSuper member. If you're not a member, it's easy to join online

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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 2020-21 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. The amount of indexation that you will be entitled to will depend on how much of your transfer balance cap you have used. If you meet or exceed your transfer balance cap, you will not 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.

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 apply 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

Request a call to discuss your retirement options

Attend an exclusive member seminar

Connect with a professional adviser

Read our Income Account Guide (pdf)

1. For the financial years 2010 to 2020. Past performance may not be 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. Based on recipients of Pension Fund awards from SuperRatings, Chant West, and Connexus between 2015 and 2019. These awards are solely statements of opinion and do not represent a recommendation to purchase, hold, or sell any securities, or make any other investment decisions. Ratings are subject to change. Ratings, awards, or investment returns are only one factor that you should consider when deciding how to invest your super. Past performance may not be a reliable indicator of future performance.
3. Money magazine awards are solely a statement of opinion and do not represent a recommendation to purchase, hold or sell this product, or make any other investment decisions. Ratings are subject to change. Go to www.moneymag.com.au for details of its ratings criteria.
4. SuperRatings does not issue, sell, guarantee, or underwrite this product. Go to superratings.com.au for details of its ratings criteria. SuperRatings Pty Ltd has given its written consent to the inclusion of each reference to SuperRatings (including its ratings logos) and the statements made by or said to be based on statements by SuperRatings in the form and context in which they are included on the QSuper website. Past performance is not a reliable indicator of future performance.
5. SuperRatings Pension Fund Crediting Rate Survey, June 2020. SR50 Balanced Index (60-76). Past performance may not be a reliable indicator of future performance. QSuper’s Income account account, Balanced option only, ranked eight over ten years to 30 June 2020. Based on cumulative returns compounded annually after fees and taxes excluding fixed administration, contribution, switching fees and insurance premiums. SuperRatings does not issue, sell, guarantee, or underwrite this product. Ratings, awards or investment returns are only one factor that you should consider when deciding how to invest your super. Go to www.superratings.com.au for details of its ratings criteria.
6. Permanently retired means you do not intend to ever work 10 hours or more per week in the future. This doesn't mean you could not return to part-time or full-time work if your circumstances change in the future.