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.

What are the super and retirement rules for over-65s?

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Q: My wife (age 63) and myself (age 65) have a small business. I was told by an organisation that at 65 or over I could put money into super, pay 15% tax on the way in and then draw it out when I wished and pay no tax. In fact I have been told to pay myself $30,000 or less and source the rest of my … [Read more...]

Tax-free super for over-60s, except for some

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If you withdraw your super benefits after you turn 60 years of age, you can expect to pay no tax on those super benefits, unless you are a member of certain public sector super funds (see summary table at the end of this article). Due to the large number of emails I have received about this topic … [Read more...]

I’m 58 and I have $230,000 in super.
Will my super be taxed?

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Q: I’ve just turned 58, and I’m thinking of retiring before I turn 60. I would like to know whether I would have to pay tax on my superannuation. I know that after I turn 60, it’s tax-free, so my inquiry is regarding the period until I turn 60. My super money consists of compulsory employer … [Read more...]

I retired at 59. Do I pay tax on my superannuation lump sum?

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Q: I retired in September 2014. I’m now living on a tiny super pension of about $710 a fortnight. In September 2014, I also received a $15,000 superannuation lump sum. The tax free component of my total superannuation is 66% and the taxable component is 34%. I turned 60 in February 2015. Do I have … [Read more...]

Age Pension: Deemed income falls from 20 March 2015, with lower rates

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If you own financial investments and receive the Age Pension, or you hope to claim the Age Pension, then you need to be aware of a recent change to the deeming rates applicable to financial investments, and the annual change (every July) to the deeming thresholds for the Age Pension income test. … [Read more...]

Retirement: 3 ways of taking super benefits before the age of 60

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When you retire early, you’re going to have to make a few decisions. The tax implications of your retiring before the age of 60 can depend on whether you take your super as a lump sum and/or income stream. Are you taking your super as a lump sum, an income stream or a combination of … [Read more...]

Retiring before the age of 60: the tax deal

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If you retire before the age of 60, your super benefits are likely to be subject to tax — but not always. With the right structure, and usually with expert advice, many Australians retiring early can end up paying no tax. If you’re willing to wait until you turn 60 before you retire, you can … [Read more...]

Pension earnings remain tax-free after death

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Regulations took effect from 1 July 2012 (although registered in June 2013) confirming that pension earnings remain tax exempt upon the death of a fund member receiving a super pension, even when there is no reversionary pension (that is, the pension of the deceased fund member does not … [Read more...]

Guest contributor: Taxing pension earnings, and benefits, will deliver minimal tax revenue

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Note: the Financial System Inquiry final report suggests that super pension fund earnings should be taxed, rather than continue to receive tax-exempt status. Why? So it will reduce costs for super funds, but it most certainly will increase costs for fund members, and significantly reduce retirement … [Read more...]

Super for beginners, part 17: Four must-knows about super’s tax rules

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Q: I am trying to understand how my super is taxed and it seems that it is taxed at every turn. Can you please explain when, and how, a super benefit is taxed? A: If it were not for tax, superannuation wouldn’t exist. You would simply invest in your own name. Superannuation is taxed at lower … [Read more...]