Taking a super pension

When you retire and/or reach a certain age, you can access your super benefits as a lump sum or as a superannuation pension.

A superannuation pension is also known as an income stream.

You can purchase a pension from your existing superannuation fund or a related financial organisation, or from another super fund or organisation, or start a pension within a self-managed super fund (SMSF).


You may also be eligible to start a transition-to-retirement pension (TRIP) before you retire, provided you have reached your preservation age.

Set out below are all SuperGuide articles explaining Taking a super pension.

Seniors Health Card (CSHC) changes to hit retirees

Storm_2262418_c

In the 2014 Federal Budget, the government announced that the Commonwealth Seniors Health Card (CSHC) income test will be changed so new applicants must include superannuation pension income, from 1 January 2015. More specifically, quoting directly from the Budget documents, “To ensure people with … [Read more...]

CSHC income test: What is untaxed superannuation and taxed super?

Taxed_4354843_c

Note: This article explains how super benefits are counted towards the Commonwealth Seniors Health Card. If you are seeking more detailed information on the CSHC changes announced in the 2014 Budget, or whether you’re eligible for a CHSC, see SuperGuide articles Seniors Health Card (CSHC) changes to … [Read more...]

Mirror, mirror… what super fund is the best-performing fund of all?

Pixmac000015155977_mirror

Note: SuperGuide updates this article periodically with the latest performance and super fund data. You can discover the best value superannuation fund of the year for 2014, the super (pre-retirement) fund of the year for 2014, and the pension (retirement) fund of the year for 2014. You can also … [Read more...]

Three big changes to military super

Military_super_10944122_c

In the 2014 Federal Budget, the Federal Government announced three significant changes to military super benefits. The changes will affect three existing military superannuation schemes, and involve the introduction of a new super scheme for newly appointed defence personnel. The three … [Read more...]

Parental leave policy dilutes franking credits on dividends

baby_12302401_c

SMSF trustees and other direct share investors, and all members of large super funds, will indirectly help finance the government’s proposed parental leave policy. The 2014 Federal Budget announced that  proposed parental leave policy will provide women with 6 months paid leave at current salary, … [Read more...]

SMSF pensions: Stick with original tax-free and taxable components

Pixmac000015627887_book_components

Q: I recently read your book on DIY Super for Dummies and picked up a number of useful hints. Thanks for writing it. My wife and I have only recently established a SMSF and are on a steep learning curve. We are in the pension phase. Both of us have a large tax-free component and a smaller taxable … [Read more...]

Retirement and tax: What are the minimum pension payment rules?

Rules

Q: I am 63. I want to retire next year but I am not sure if I want to access my super benefits yet. I have heard that when I retire, I must withdraw some super benefits each year, otherwise I won’t receive tax-free super benefits. Can you please clarify the rules for me? A: You question is really … [Read more...]