#1 fund for weathering market ups and downs3
SuperRatings' Pension of the Year three years in a row4
Personalise your QSuper Income account to meet your needs
Make the most out of your retirement by learning about some of the ways you can manage your QSuper Income account.
Your Income account is designed to be flexible, so you can choose from fortnightly, monthly, quarterly, half-yearly, or annual payments.
Keep in mind that minimum and maximum annual payment amounts could apply depending on your account type, age, and balance.1
Change income payments
While you can't make contributions to an Income account once it has been opened, you can close your current Income account and restart a new Income account with the total of your existing balance and the extra money.2
To do this, complete a Restart an Income account with more money (pdf) form.
Alternatively, you may be able to make contributions to an Accumulation account. Keep in mind the annual contribution limit.
Restart your account form (pdf)
You can make lump sum withdrawals from your Retirement Income account whenever you want to.3 To do this, log in to Member Online or send us a completed Make a Withdrawal from an Income Account (pdf) form.
Generally, you cannot make lump sum withdrawals if you have a Transition to Retirement Income account.
Make a withdrawal
If you want to merge two existing income streams, you can use our Restart an Income account with more money form (pdf) to create a new income stream with the combined total of both.
This is because income streams in super are legally only allowed to start, stop, or transfer out - they can't accept transfers of more money in.
If your combined total of both income streams is more than the transfer balance cap, don't worry. This is allowed, and creating the new Income account will close your existing income streams.
Whether you want us to manage your investments, or you want to select your own investment strategy, we offer a wide range of options to choose from.
You can change your investment strategy and choose which investment options you want your payments to come from through Member Online.
Your super does not automatically form part of your estate, even if you have an up-to-date Will.
To help you take control of who receives your money if you die, you can nominate a reversionary beneficiary or make a binding death benefit nomination.
Update your nomination
If you want to close your Income account and transfer your super back to an Accumulation account, you can do this in Member Online or using our withdrawal form (pdf).
You can also use this method if you wish to move to a different super fund - but before you switch super funds, make sure you know all the benefits of retiring with QSuper.
Make a withdrawal
Our Income account has won a number of awards, including SuperRatings' 2021 Pension of the Year4 and Chant West's 2020 Pension Fund of the Year.5
Deciding what is best for you will depend on your personal circumstances, and you may want to seek financial advice to get the most from your superannuation.
1. Refer to the QSuper Product Disclosure Statement for Income Account and Lifetime Pension (pdf) for more information.
2. You can only restart an Income account once in a financial year, and you can not restart if your Income account is a death benefit income stream. There are annual contribution caps on the before and after-tax amounts you can add to your super, and there is an overall transfer balance cap on the amount that can be held tax-free in an Income account (totalled across all Income accounts you hold). If you receive regular Centrelink payments, make sure you talk to Centrelink or get financial advice before restarting your account as this may affect your payments. Refer to the QSuper Product Disclosure Statement for Income Account and Lifetime Pension (pdf) for more information.
3. If you are under 60 years of age, you may be taxed on lump sum withdrawals. Refer to the QSuper Product Disclosure Statement for Income Account and Lifetime Pension (pdf) for more information.
4. The rating is issued by SuperRatings Pty Ltd ABN 95 100 192 283 AFSL 311880 (SuperRatings). Ratings are general advice only and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and SuperRatings assumes no obligation to update. SuperRatings uses objective criteria and receives a fee for publishing awards. Visit superratings.com.au for ratings information and to access the full report. © 2021 SuperRatings. All rights reserved.
5. For further information about the methodology used by Chant West, see chantwest.com.au. This award is solely statement of opinion and does not represent a recommendation to purchase, hold, or sell any securities, or make any other investment decisions. Ratings and awards are subject to change and 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.