If you’re under 60, payments generally are taxed lower than other types of investments, and generally, you don't pay tax on payments if you're over 60. If you're over 65, you may also be able to access the Centrelink Age Pension and other Government benefits (such as the Pensioner Concession Card).
Retirement income options
Whether you're transitioning to retirement or are ready to fully retire, there are many advantages to starting a TransPension account. You can choose:
- A Pre-retirement Super Pension - pays you regular, tax-effective pension payments.
- A Retirement Super Pension - pays you regular, tax-effective pension payments and lets you access extra money if you need it.
What works best for you depends on your personal circumstances - especially in terms of your age and work situation.
Advice and help
Talk to us about how to set up and manage a Pre-retirement or Retirement Super Pension, whether you’re about to retire or have just started thinking about retirement.
Accessing your super
If you’re 60 or over you can start turning your super into retirement income – even if you’re still working. If you want to access your super before you are 60, certain rules apply.
The age at which you can access your super depends on your date of birth and is known as your "preservation age".
As an Industry SuperFund, our fees are used to cover the costs of running TWUSUPER - not to make money for shareholders. There are no hidden fees or charges and we don't pay commissions to financial advisers.