Your super can work together with the Age Pension to make your retirement better. A Retirement Income Stream can give you a bit more to live on while the rest of it stays working hard for you.Apply now
save some for later
Putting your super into a Retirement Income Stream can be a clever way to make your super last longer than it might if you took it out as a whole amount, even if you have a small balance.
more in your pocket
If you're over 60, payments you receive from your Retirement Income Stream are tax free. This means more in your pocket now and more left in your account for later. You’ll also receive the HESTA Retirement Reward if you’re eligible.
top up your pension
If you’ll be relying on the Age Pension when you retire, you can use your Retirement Income Stream to supplement your income. You deserve a little bit extra to treat yourself, or maybe spoil the grandkids.
is a retirement income stream right for me?
|Date of birth||Preservation age|
|01/07/60 - 30/06/61||56|
|01/07/61 - 30/06/62||57|
|01/07/62 - 30/06/63||58|
|01/07/63 - 30/06/64||59|
If you answered YES above, you're one step closer.
Just a few more questions
Have you permanently stopped working since reaching your preservation age?
Have you ended employment with any employer since turning 60?
Are you over 65?
If you answered YES to one of the above, a Retirement Income Stream could be right for you.
It's important to understand how a Retirement Income Stream could impact your Centrelink entitlements for you or your partner now or in the future, including the Age Pension.
How much can I draw down in 2019/20?
For the 2019/20 and 2020/21 financial years, minimum drawdown amounts have been reduced by 50% in response to the coronavirus pandemic. Drawdown amounts are as follows:
|Your age||Temporary minimum
2019/20 and 2020/21
|Under 65||2%||4%||10% (TTR only)|
The minimum drawdown is the percentage of your income stream account balance that you must withdraw each financial year.
This is the maximum allowable amount Transition to Retirement Income Stream members can withdraw each financial year.
There is no maximum drawdown amount for Retirement Income Stream members, it's your money and you can withdraw as much as you want.
Minimum and maximum drawdown amounts are set by the Federal Government at the beginning of each financial year.
For more information see the HESTA Income Stream Product Disclosure Statement.