Lifetime Pension

Enjoy retirement, knowing you have an income for life

Open your Lifetime Pension
Chant West Best Fund Longevity 2023

How do you make your money last in retirement? Our award-winning Lifetime Pension is designed to work with an account-based pension to allow you to enjoy life without worrying about your savings running out.

Your pension for life

Why choose our Lifetime Pension

Income for life

Receive a tax-free income for the rest of your life, no matter how long you live.

Spouse protection

Choose to have payments continue to your partner after you pass away, so they'll have an income for life.

Money-back protection

Get your purchase price back in fortnightly payments, or what's left goes to your beneficiaries once you pass away.1

Age Pension benefits

Potential to either become eligible for an Age Pension or receive higher payments with a Lifetime Pension.

How does our Lifetime Pension work?

We've designed the Lifetime Pension to give you security in retirement.

  • When you buy a Lifetime Pension, your money goes into a pool of funds with other Lifetime Pensions
  • This pool is invested in the QSuper Balanced investment option for Income accounts
  • Your payments come from this pool
  • Everyone's payments are adjusted yearly to reflect the pool's performance, fees, and other factors
  • This makes sure the pool can keep paying everyone an income for life

Payments are expected to increase over time, but they may go up or down.

Once you open a Lifetime Pension, you have 6 months to decide if it's right for you. After this, it's a permanent purchase. Learn more at one of our member seminars for members and their guests.

Find out how much you could receive

Use our pension calculators to see how you could create your own retirement income stream.

How much you will be paid in your first year depends on:

  • Your purchase price
  • Whether you have the single or the spouse protection option
  • Your exact age in days when your Lifetime Pension starts (or if you have the spouse protection option, the age of the younger person)
  • When your Lifetime Pension starts during the financial year.

This table shows the annual payment amounts per $100,000 at the start of a Lifetime Pension. Your first-year payment will be a pro-rata amount according to when you purchased the product. Payments after the first year will be based on our annual adjustment.

The spouse protection rate will apply if you choose to have payments continue to your spouse when you pass away, based on the age of the younger person.

Download the PDS for more information.

Payment amount at start of Lifetime Pension per year per $100,000

Starting age Single person rate Spouse protection option rate
60 $6,164 $5,707
61 $6,259 $5,776
62 $6,361 $5,850
63 $6,471 $5,930
64 $6,589 $6,015
65 $6,716 $6,107
66 $6,854 $6,206
67 $7,003 $6,312
68 $7,164 $6,427
69 $7,339 $6,550
70 $7,529 $6,684
71 $7,736 $6,830
72 $7,962 $6,987
73 $8,208 $7,159
74 $8,479 $7,346
75 $8,777 $7,551
76 $9,107 $7,775
77 $9,472 $8,021
78 $9,878 $8,291
79 $10,330 $8,590
80 $10,834 $8,920
Lifetime Pension Income Estimator

Lifetime Pension Income Estimator

Find out how much you could get in your first year.

Retirement Calculator

Retirement Calculator

Compare your income when using different products.

Internationally recognised

Our Lifetime Pension has won several awards for helping you feel more confident about enjoying retirement. These include Chant West's Longevity Award 2023 for making your super last, and Canstar's Innovation Excellence Award 2023.

Retirement Bonus

If you're eligible, you'll get a bonus when you open a Lifetime Pension with money from your QSuper Accumulation or Transition to Retirement account.

Lifetime Pension Icon

Open your Lifetime Pension

If you've decided you want to make your super last, start your Lifetime Pension now. If you're still deciding, request a call to discuss your options.

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You can start a Lifetime Pension any time between your 60th and 80th birthdays, if you meet at least one of the following conditions:

  • Permanently retired
  • Changed jobs on or after age 60
  • Aged 65 or older
  • Received an eligible death benefit
  • Met another approved condition of release.

Download the PDS (pdf) to find out more about eligibility. If you don't already hold a QSuper account, you can still open a Lifetime Pension

You can also open a Retirement Income account anytime after retiring, and these two products are designed to work well together. 

Attend one of our member seminars to find out more about your retirement options.

Yes, once you open a Lifetime Pension with your super, it becomes an income stream.

  • You get fortnightly tax-free payments for the rest of your life, and the life of your spouse (if you've chosen the spouse protection option).
  • It can be used with an account-based pension like our Retirement Income account to build an income stream to meet your individual needs. 

If you're not ready to retire, our Transition to Retirement Income account gives you payments from your super while you're still working.

Find out why it's great to retire with us. You can explore your options for retirement income with our Retirement Calculator to help you make the most of your super.

Our Lifetime Pension isn't an account-based pension but it's designed so you can combine it with one - like our Retirement Income account - to take advantage of the differences between the two product types:

  • With an Income account, there's no guarantee that your balance will last your lifetime - it may run out. So our Lifetime Pension provides an income for life.
  • An Income account is more flexible - you can choose your investment options, change how much and how often you get payments, and take out money when needed. Your Lifetime Pension is a set-and-forget product that is designed to maximise income, so you can’t change your annually adjusted payments or how they are invested.
  • Once you purchase a Lifetime Pension, you can't withdraw that money after the 6-month cooling off period, except for terminal illness or death. So an Income account can be helpful because it allows withdrawals at any time.
  • Centrelink's income and assets tests for the Age Pension treat an Income account and a Lifetime Pension differently.

Using our Lifetime Pension together with an account-based pension can give you the best of both worlds - the confidence of an income for life, and the flexibility to withdraw money when you need it.

Learn more about account-based pensions or consider getting financial advice about how our retirement solutions might suit you.

Can't find an answer to your question? Try our full list of Lifetime Pension FAQs

How the Lifetime Pension works with other income streams

Lifetime Pension is designed to work with an account-based pension, like our Retirement Income account. You could get Age Pension benefits too (if eligible) because only some of your Lifetime Pension funds are counted in Centrelink's income and assets tests.

Lifetime Pension
Income for life

Lifetime Pension

Gives security in retirement knowing your payments won't stop, no matter how long you live.

  • Never runs out
  • Potential Age Pension benefits
  • Payments adjusted yearly
Income account
Income for lifestyle

Income account

Adds flexibility by allowing you to change your payments and access your money anytime.

  • May run out
  • Choose your investments
  • Flexible payment options
Find out more
Age Pension
Income safety net

Age Pension

Provides income support from the government for the essentials in life.

  • Never runs out
  • Budget lifestyle
  • Payments based on assets and income
Find out more

Lifetime Pension

Age Pension

Regular income paid for life

Income to pay for the things you cannot live without, such as:






Medical expenses

Income account

Other income sources

Flexible payments and accessible funds

To pay for the things that improve your standard of living, such as:

Meals out

Regular coffees

Long travel


Sports and membership

Weekends away

Want to know more?

Come along to our Retirement Income for Life seminar for members.
Learn more about making the most of your super.


More than $280 billion in retirement savings


Over 140 years' combined experience helping members2


2.3 million members and counting

Super you can trust. QSuper is part of Australian Retirement Trust, one of Australia's largest super funds.

Make your super last

Start your Lifetime Pension today to enjoy the security of an income for life.

Open your Lifetime Pension

1. Money-back protection may be subject to legislative maximums and adjustments for negative returns. Further details are available in the QSuper Product Disclosure Statement for Income Account and Lifetime Pension (pdf).

2. Australian Retirement Trust was formed through the merger of QSuper and Sunsuper on 28 February 2022.

QSuper products are issued by Australian Retirement Trust Pty Ltd (ABN 88 010 720 840, AFSL 228975) as trustee for Australian Retirement Trust (ABN 60 905 115 063). QSuper is now part of Australian Retirement Trust. Read the product disclosure statement (PDS) and target market determination to check if this is right for you or call us on 1300 360 750 to request a copy.