We like to keep things flexible for you
How often you receive your income payment is entirely up to you – fortnightly, monthly, quarterly, half-yearly or annually. And you can always change it to suit your needs.
Here’s how to change the frequency and amount of your income payments:
You can also use Member Online to specify the order of investment options your payments are made from.
Minimum payments apply
There’s Commonwealth legislation that requires you to withdraw a minimum amount from your Income account every year. The amount depends on your age and it’s calculated at the date you open the Income account, and then each year on 1 July.
There’s no maximum annual withdrawal amount, unless you have a Transition to Retirement Income account. That has a maximum withdrawal limit of 10% of your opening balance and then 10% of your 1 July account balance in a single year.
If you’d like to find out the minimum income amounts you can receive, check our retirement Income account payment calculator.