A retirement pension is designed to supplement your income from the Government Age Pension or any other financial investments you may have to help meet the costs of living after you retire. Your accumulated super provides an income stream while still earning tax-free investment returns on the balance of your account.
With flexible payment options, you can change the amount and frequency of your pension payments when you need to and your payments are tax-free once you turn 60. If you need extra money to cover unexpected or unplanned expenses you can even withdraw lump sum amounts. Investment earnings on your pension account are entirely tax free.
- Retirement income stream or lump sum payments after you retire
- Flexible payment options
- Tax free investment earnings
- Tax free pension payments after you turn 60
The Retirement Pension is designed for people who have fully retired.
To start a Retirement Pension with Media Super, you must have at least $10,000 of super money to invest, and:
- have reached your preservation age and are fully retired; or
- have retired due to Total and Permanent Disablement (TPD) or permanent incapacity; or
- be aged 60 or more and have left employment; or
- be aged 65 or over.