manage your income payments
Here's how you can manage payments from your HESTA Transition to Retirement Income Stream or HESTA Retirement Income Stream account.
Change your payment frequency
It's up to you how often you get your income payments. You can choose to get them:
- fortnightly
- monthly
- quarterly
- half-yearly, or
- yearly.
For all payment frequencies except fortnightly, you can choose to be paid on the 15th or 28th day of the month. For quarterly, half-yearly, or yearly payments, you can choose the month of your first payment. If you don't nominate when you'd like to be paid, you'll be paid annually at the end of June.
The fastest way to change the frequency of your payments through your online account. Log in and go to the 'Payments' tab.
Change payment frequency online
Or you can complete the Change of income payment amount and frequency form (PDF) and send it back to us.
Change your payment amount
You can change your income payment amount whenever you need.
You'll need to meet the minimum and maximum drawdown amounts set by the government each year. Maximum drawdown amounts only apply to members with a Transition to Retirement (TTR) Income Stream account.
The fastest way to change the amount of your payments is through your online account. Log in and go to the 'Payments' tab.
Change your payment amount online
Or you can complete the Change of income payment amount and frequency form (PDF) and send it back to us.
Things to consider
When you're thinking about how much money to take out as an income now, it's important to consider:
- your account balance and how long it's likely to last
- if you're also getting the Age Pension or any other income
- how much you'll actually need now so you're not caught short in later years. You can use the MoneySmart Budget calculator to help work this out.
what are my payment limits?
Payment limits differ depending on whether you're transitioning to retirement through a HESTA Transition to Retirement (TTR) account, or you're retired and in a HESTA Retirement Income Stream account.
If you're in a TTR account, you can only withdraw up to 10% of your account balance as income payments each financial year.
If you're retired — you've met a condition of release or you're 65 years of age or more — there's no upper limit on how much you you can choose to be paid each financial year through a HESTA Retirement Income Stream account.
See the difference on payment limits
Transitioning to Retirement
James is 60 years old, is still employed, and has $150,000 in his HESTA Transition to Retirement (TTR) Income Stream account.
Because James has a TTR income stream account, the maximum amount he can withdraw for the year is:
$150,000 x 10% (to the nearest $10)
= $15,000
Retired
Helen is a 62-year-old retiree who has $150,000 in her HESTA Retirement Income Stream account.
Because Helen is already retired, there's no maximum withdrawal limit. If she wanted to, Helen could choose to withdraw her entire balance during the year:
= $150,000
The difference
- As James and Helen are both under 65, the minimum amount they can withdraw in the 2025-26 financial year is 4% of their account balance.
- However, the maximum withdrawal amount differs for those who are transitioning to retirement in a HESTA Transition to Retirement account vs those who are retired in a HESTA Retirement Income Stream account.
how much can I draw down in 2025-26?
Minimum drawdown
- This is the percentage of your income stream account balance that you must withdraw each financial year.
Maximum drawdown
- 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.
When are drawdown amounts set?
- Minimum and maximum drawdown amounts are set by the Federal Government at the beginning of each financial year.
| Your age | Minimum drawdown | Maximum drawdown |
|---|---|---|
| Under 65 | 4% | 10% for Transition to Retirement No maximum for Retirement Income Stream |
| 65-74 | 5% | No maximum |
| 75-79 | 6% | No maximum |
| 80-84 | 7% | No maximum |
| 85-89 | 9% | No maximum |
| 90-94 | 11% | No maximum |
| 95+ | 14% | No maximum |
Update your bank details online
The fastest way to see or change your bank details for future payments is to log in to your HESTA account.
Complete the paper form
Complete the Change of banking details form and send it back to us.
Expert help when you need it
Our retirement experts can help you manage your retirement. Contact us whenever you need.