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.
SuperGuide is Australia's only INDEPENDENT website for consumers on superannuation.
SuperGuide was founded by Trish Power, author of Superannuation for Dummies, DIY Super for Dummies, Super Freedom, and many other books on super and investing, and Robert Barnes.