Open a pension account
Opening a pension account will ensure that you have a regular income to enjoy life in retirement, as well as continuing to get great returns on your savings. A pension account can help increase your savings, with flexible tax-effective investment earnings and no tax on payments or withdrawals after you turn 60.
In just a few easy steps you can open your pension account now.
Opening a Pension account
A Media Super pension account gives you the comfort of a regular income in retirement with the flexibility to make withdrawals when you need to. And you'll continue to earn investment returns.
We offer two types of pension accounts, a Transition to Retirement (TTR) account if you're still working and a Pension account when you're fully retired.
They work in much the same way, in that you'll receive a regular income and returns on your investment, but they have different tax treatments.
Before opening your account
It's a good idea to consider the following before opening a pension account:
- Learn more about Transition to Retirement and pension accounts or read the Pensions Guide PDS
- Check that you are eligible
- Think about the investment options that best suits your new needs
- Combine other super accounts you may have into your existing Media Super account
- Speak with one of our financial planners if you need help getting started
If you have any questions or would like some help please call us on 1800 640 886 and we'll be happy to help.
How to open your account
Once you're ready, follow these steps to open your pension or TTR pension account:
- Download and read the Pensions Guide PDS
- Complete the Pension application form and Investment choice form - pension
- Complete and certify your proof of identity documents
- Mail the completed forms and certified ID to us
Once your pension has commenced
We'll send you a welcome pack to let you know that your account has been opened and your first income payment will commence from the date you specified in your application.
Keeping track of your account is easy with your secure online account where you can review and manage:
- your account transactions
- your personal details
- your investment option
- your beneficiaries
- the frequency of your income payments.
Can I add additional funds to my pension account?
Unfortunately this is not possible once your pension account has commenced. In order to add additional funds to an existing pension, a new pension account must be opened and your existing account will be closed.
If you need to do this please complete the Pension reinvestment form.