Accessing Your Super In Retirement – Super Tips

Regular payments	Lump sum
Taking out your super in regular payments means you can choose how and when you receive them. Another benefit is that we’ll continue to work hard for a return on the money that remains invested in your account.	Taking out your super as a lump sum doesn’t mean you have to withdraw it all at once. You can take some of it out and leave the rest to access as you need it, or take it out as a regular income stream later.

Regular payments	Taking out your super in regular payments means you can choose how and when you receive them. Another benefit is that we’ll continue to work hard for a return on the money that remains invested in your account.
Lump sum	Taking out your super as a lump sum doesn’t mean you have to withdraw it all at once. You can take some of it out and leave the rest to access as you need it, or take it out as a regular income stream later.

Amount and frequency

How much you take out of your account and how often depends entirely on you, but there is a minimum amount you must withdraw, also known as the minimum pension drawdown rate. It’s a percentage of your starting balance on 1 July of the current financial year, and it also depends on your age. For example, if you’re aged between 65 and 74, for the 2024-25 financial year you’re required to withdraw at least 5% of your account balance.

You can change your payment amount and frequency online through MemberAccess. It’s important to consider your personal financial circumstances before making any changes – for example, withdrawing more than the minimum rate may impact how long your super lasts in retirement.

Your age on 1 July or commencement of pension*	Default minimum drawdown rate (% of account balance)
Younger than 65	4
65-74	5
75-79	6
80-84	7
85-89	9
90-94	11
95 or older	14

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