Choosing a retirement income option

Due to Media Super merging with Cbus, Media Super Pension accounts have closed and been moved to a Cbus Super Income Stream.

We appreciate change can bring uncertainty. Please be assured all practical pension product options were scrutinised for benefits and the need to act in the best financial interests of our members.

For members with an existing Media Super Pension account, your benefits have been transferred to a new Cbus Super Income Stream and will continue to provide you with a regular pension payment. You will also enjoy additional benefits, such as:

  • Fortnightly payments in addition to monthly, quarterly, half-yearly and yearly options
  • Additional flexibility on how payments are drawn down from investments
  • Retirement Spending Planner and Cbus Advice Team.

The information on this web page relates to the Cbus Super Income Stream (SIS)

Choosing a retirement income option

How you choose to receive your super during retirement can have a big impact on your finances and lifestyle. Consider your options to make a choice that's right for your needs and circumstances.

Choosing a retirement income option

Retirement income options

A Cbus Super Income Stream keeps your money invested and working for you in retirement. It provides regular and tax-effective income, during your final years of work and into retirement.

  • Cbus Super Income Stream (SIS) account

    Instead of taking your super out in one lump sum payment, you can choose to open a SIS account with Cbus.

    In a SIS account, the money in your super remains invested while you draw regular, smaller amounts from the account as income to fund your basic needs and lifestyle.

    Cbus offer two types of SIS accounts, a Fully Retired account for when you’re retired and a Transition to Retirement (TTR) account if you’re still working.

  • Lump sum payment

    A lump sum payment is where you withdraw the balance of your super and chip away at it over time. How you manage that money is your choice.

    However, if you take out a lump sum payment, that money is no longer considered to be super. So, if you invest that money, earnings on any investments will not be taxed as super and may need to be declared in your tax return. This could result in a higher personal tax liability.

How does a SIS account work?

  • 1. Set up your account and payments

    When you open your account, you decide how much you want to receive as a regular payment and how often you’d like to receive payments.

    You can change the amount and frequency of payments at any time, as long as your new payment amount falls within government limits.

  • 2. Receive regular payments while your money stays invested

    Your regular payments are deposited directly into your nominated savings account, while your remaining account balance will continue to be invested.

  • 3. Payments continue until your account balance runs out

    You’ll continue to receive payments until the money in your account runs out.

    When you die, any remaining balance of your account will be paid to your beneficiaries as a cash payment or regular income.

Benefits of a Cbus Super Income Stream

There are a range of benefits to choosing a SIS account:

  • No start-up cost

    Cbus don’t charge fees to start a SIS account. Just fill out the application.

  • Competitive fees

    The administration fees on SIS accounts are the same competitive fees that apply to your super account.

  • Investment options

    You can choose from a range of investment options to suit your needs.

  • Flexible payment frequency

    You can receive your regular payment monthly, quarterly, half-yearly or annually, to suit your needs.

  • Online access

    Managing your SIS account online is easy, it’s simple to use and gives you secure access to your account anytime.

What you need to open a SIS account?

You can set up a SIS account using funds from your existing super account with Media Super or from any other super fund.

There are two types of SIS accounts

If you’re still working

If you’ve stopped working

Between preservation age and age 64

Transition to Retirement account

Fully Retired account

Age 65+ years

Fully Retired account

How to apply for a SIS account

Whether you’re an existing Media Super member or new to us, you can apply for a SIS account via the application form in the Cbus Super Income Stream PDS (PDF).


Let us do the hard work

To help make the best decisions for you, we recommend you speak to us before applying. If you’re already a Media Super member, the balance of your existing Media Super account can be transferred straight across. We’ll even help with the paperwork.

Advice Services for members

Call and speak with an adviser today. It’s no additional cost and our advisers can help you understand your options, what you need to consider before making any changes and provide a personal recommendation on topics like which investment option to choose, super contributions or starting a Super Income Stream.

Ways we can help

Tax considerations

There are a range of factors to consider regarding taxation when considering which retirement income option is right for you. We can help you make sense of it all.

Learn more about tax considerations.