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.

Superannuation changes: What rules apply for the 2016/2017 year?

Although the newly elected Coalition government has announced significant amendments to Australia’s superannuation rules, many of the big-ticket super policies are not changing, and many of the proposed changes will not apply for the 2016/2017 year.Apart from the $500,000 lifetime after-tax … [Read more...]

Age Pension income test: Deeming rates and deeming thresholds

Note: This article explains the latest deeming rates and the deeming thresholds for the Age Pension income test. If you are seeking information about the latest increases in the thresholds for the Age Pension income test and Age Pension assets test see SuperGuide article Age Pension: More … [Read more...]

2016 Federal Election update: What superannuation and retirement policies can you expect?

The 2016 Federal Election on 2 July will decide whether the Coalition’s announced super policies will go ahead, while the ALP has been unusually silent on its proposed super policies, apart from quietly reaffirming two policies, with one measure adopted by the Coalition.The May 2016 Federal … [Read more...]

Investment returns after retirement matter: Understanding the 10/30/60 Rule

When Reserve Bank governor Glenn Stevens said ultra-low global interest rates were causing problems for people’s retirement planning, he wasn’t exaggerating. But few realise quite how big the problem is – especially for those already in retirement.Record low global interest rates and low … [Read more...]

Age Pension: 300,000-plus Australians lose entitlements from January 2017

Note: Changes to the Age Pension assets test are now law, and will take effect from 1 January 2017. The successful passage through parliament was due to the Greens supporting the changes announced by the Liberal/NP government in the 2015 federal budget. Although the ALP opposed the changes, the ALP … [Read more...]

Super pensions: choosing an investment option in retirement

Most people think all the hard work is over once they hit retirement, but decisions still need to be made about how to invest your hard-earned super savings.Although people often choose to take their super account balance and invest it themselves during their retirement, super funds are keen to … [Read more...]

Liberals to impose $1.6 million cap on pension start balances, if win election

Note: The proposed policy will apply to both existing and new pension accounts from 1 July 2017, which means the policy will apply retrospectively. Based on federal treasurer Scott Morrison’s comments after announcing the 2016 Federal Budget, he claims this policy is not retrospective, that is, it … [Read more...]

ALP to tax pension earnings above $75,000 a year, if wins election

Note: Based on the ALP’s own election documents, this policy will be applied retrospectively, and will apply to all super pension earnings above $75,000 a year, from 1 July 2017. The ALP claims this measure is not retrospective, that is, it only applies to superannuation pensions started from 1 July … [Read more...]