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.

Retiring before the age of 60: the tax deal

If you retire before the age of 60, your super benefit payments 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 … [Read more...]

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

If you withdraw your super benefits after you turn 60 years of age, you can expect to pay NO tax on those super benefit payment, 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 receive on this topic, … [Read more...]

Super fees: Top 10 cheapest funds in Australia

Note: This article contains the latest available fee information. In this article you can find the cheapest super funds and the cheapest super pension funds. We update this article periodically with fee data issued by SuperRatings, and for pension funds, by SelectingSuper. Latest update was August … [Read more...]

Retirement performers! Top 30 pension funds over 5 years

Note: This article lists the 30 top-performing pension (retirement) funds over 5 years to 30 June 2016. For the top-performing super funds, see SuperGuide article Super stars! Top 30 super funds over 5 years.Discovering the best-performing super funds is always fascinating reading (at least for … [Read more...]

2016 Federal Budget summary: Superannuation shock for Australians

Note: This article is regularly updated reflecting the latest information available on the superannuation changes announced in the 2016 Federal Budget, and to become law before 1 July 2017.On 3 May 2016, the federal treasurer Scott Morrison released the first federal budget of his career, and … [Read more...]

Transition-to-retirement pensions: Will TRIPs stay, or will they go?

On 3 May 2016, in the 2016 Federal Budget, the Coalition (Liberals/NP) government announced that, from 1 July 2017, it intends to remove the tax exemption on pension fund earnings financing a transition-to-retirement pension (TRIP). Subject to legislation, the removal of the tax exemption on fund … [Read more...]

Liberals to impose $1.6 million cap on pension start balances

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...]

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...]

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