Your HESTA Super Income Stream is paid into your nominated Australian bank, building society or credit union account.* Payments cannot be made by cheque.

Your nominated account must be held either in your name or, if the nominated account is held jointly, you must be one of the account holders.

You can choose how often to have your payments made (fortnightly, monthly, quarterly, half yearly or yearly).

If you have more than one investment option you can choose:

- the proportion of your payment to be drawn from each option

- the order in which your payments are to be drawn from each option, and/or

- payments in proportion to the balance in each option at time of payment.

If you don’t choose a payment option, payment will be in the same proportion as your initial investment allocation.

Your payment nomination will remain in place until you advise us in writing to change it. You can use the Change of payment form to alter the proportion, order or frequency of your payments.

*Note: the institution may charge you a fee for this service.

Calculating your minimum payments

The Federal Government has set a minimum limit on the income that must be paid to you each year from your super income stream. The limit is equal to a percentage of your account balance at the beginning of each financial year. The percentage is linked to your age at the beginning of that financial year (see table below):

If you’re in HESTA’s retirement income stream option, this is the only restriction on the amount of income you can draw from your super income stream (subject to the available balance).

If you’re in HESTA’s working (TTR) income stream option: additional restrictions

TTR income streams such as HESTA’s working income stream option have a maximum annual income limit. This is calculated in a similar way to the minimum income amount, except that the percentage is 10% of your account balance, applicable prior to age 65.

Read our HESTA Super Income Stream Product Disclosure Statement (PDS) for full details.