HESTA takes care of your super while you’re working — and now we can take care of it when you retire.
Whether you’re ready to retire now or transitioning into retirement, you can access your hard-earned super with ease by rolling it into the HESTA Super Income Stream. Download the Super Income Stream Product Disclosure Statement.
A super income stream is a flexible, tax-effective way to control your income and investment options in retirement, or while making a gradual transition to retirement.
It enables you to receive a regular income from your super with the added bonus of no tax payable on the investment earnings.
Key facts: transferring your super into a HESTA Super Income Stream
The HESTA Super Income Stream offers you a choice of options depending on your needs: a retirement income stream option (for people who are fully retired) and a working income stream option (for people making a gradual transition to retirement).
Check the table below to see how the HESTA Super Income Stream can work for you, whether you’re transitioning to retirement or ready to fully retire.
| HESTA’s working income stream option |
HESTA’s retirement income stream option |
- Subsidise your income leading up to your retirement by receiving a regular income stream, using the government’s Transition to Retirement (TTR) rules
- Continue to build your pre-retirement super until you fully retire
- You can use this option as a TTR vehicle if you have reached preservation age (age 55 for people born before 1 July 1960)
- This option is non-commutable. Non-commutable means your balance can only be paid out as a lump sum in limited circumstances
- You’ll have access to a wide range of investment options
- Tax is not payable on your income stream investment earnings
- You can transfer part or all of your super account balance to HESTA’s working income stream option and draw an income stream from it, while at the same time making extra contributions to your HESTA super account. You cannot make additional contributions to your super income stream once it has commenced. When you fully retire, you can either start a second income stream with any additional funds (fees would apply to both income streams) or you can close your first income stream and open another with the combined funds
- You can change your working income stream option to the retirement income stream option when you fully retire or meet a condition of release
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- Receive a regular income stream (like the old allocated pension) when you fully retire, subject to minimum payment criteria
- You can leave your super in your HESTA super account until you’re ready to transfer to HESTA’s retirement income stream option
- You can partially or fully commute (take as a lump sum) this option at any time, subject to government regulations
- You’ll have access to a wide range of investment options
- Tax is not payable on your income stream investment earnings
- You’ll be required to withdraw at least a minimum percentage each year, based on your age
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How to apply
Full details on the HESTA Super Income Stream and all the forms you’ll need to apply are contained in the Super Income Stream Product Disclosure Statement which you should consider before making any decision about the Fund.
If you have any questions or need help, call us on 1300 734 479, Monday to Friday, 8.30am to 5.30pm Melbourne time.