Enjoy true flexibility with Australia's first contribution and pension account in one
If you have reached your preservation age and are no longer working, you can access your super to start a full pension.
Why choose iQ Retirement™?
iQ Retirement offers you a flexible way to make the most of your money during your retirement. It offers you:
- a contribution account so you can roll your other super accounts into your account to fund your pension
- a pension account to pay you a regular income
- tax-free pension payments (if you are over age 60)
- no transaction costs to move money between your contribution and pension accounts
- competitive administration fees, which you can reduce if you maintain a higher balance
- the option of linking your account with a family member to take advantage of the reduced administration fees that apply for combined balances greater than $500,000
- a dedicated website with all your pension account details
How do I join?
When you join iQ Retirement, your funds (existing super and/or non-super money) will automatically be invested into your contribution account before being transferred, free of charge, to your pension account. You can then start drawing a pension when you're ready.
How do I access my money?
You can choose to receive your pension payments monthly, quarterly, semi-annually or annually.
If you're between your preservation age and 60, your pension income is taxed at your marginal tax rate but you receive a 15% tax offset. Your pension income will be paid into your nominated bank account.
Once you turn 60, your pension payments will be tax free and no tax is payable on the earnings in your pension account.