
What is an account-based pension? Your income during retirement.
Account-based Pension | Age Pension | |
---|---|---|
Self-funded income from your superannuation savings | Government funded income | |
You generally must be age 60 or more and retired to be eligible for a pension. Or a TTR pension if you are 60 and still working | You must be 67 and eligibility will be determined by your residency, income, assets, and relationship status | |
Flexibility with the ability to choose the amount and frequency of payments | If eligible, a fixed timing and the amount you receive is determined by income, assets, and relationship status | |
Payments are tax-free over the age of 60 | Payment form a part of your taxable income unless it is your only source of income in retirement | |
How long will it last? It depends on how much you take and how much in investment earnings you receive. |
Paid by government subject to eligibility tests |
Account-based Pension | Self-funded income from your superannuation savings |
Age Pension | Government funded income |
Account-based Pension | You generally must be age 60 or more and retired to be eligible for a pension. Or a TTR pension if you are 60 and still working |
Age Pension | You must be 67 and eligibility will be determined by your residency, income, assets, and relationship status |
Account-based Pension | Flexibility with the ability to choose the amount and frequency of payments |
Age Pension | If eligible, a fixed timing and the amount you receive is determined by income, assets, and relationship status |
Account-based Pension | Payments are tax-free over the age of 60 |
Age Pension | Payment form a part of your taxable income unless it is your only source of income in retirement |
Account-based Pension | How long will it last? It depends on how much you take and how much in investment earnings you receive. |
Age Pension | Paid by government subject to eligibility tests |


Planning for retirement
How much super can you have and still get the Age Pension?
Thinking of applying for the Age Pension? Find out how your super balance and overall assets could affect your eligibility for Age Pension payments.


Planning for retirement
What are the latest Age Pension rates and limits?
In this article, we’ll walk you through the current pension rates and Age Pension limits.


Planning for retirement
Accessing super when retired
With a Rest Pension account, you’ve got options for accessing your super when you're retired.