Retiring

Get all the information, resources and forms you need when it's time to retire

Our Preparing for Retirement booklet covers just about every aspect of retirement, from planning for retirement, through to your government entitlements once you’ve finished your life in paid employment, and everything in between.

Already retired?

If you’ve already retired and started an Income Stream, you might find more resources to help you on the Already Retired Super Hints page.

Already retired

When can you access your super?

There are different rules about when you can get your super. Find out more in our video.

(5:00 minutes)

Use the Benefit payment form to instruct us how you want to set your super up in retirement.

Lifetime transfer balance cap

The Federal Government sets an upper limit on the amount you can move into the retirement phase of your super. Will you be affected?

(1:55 minutes)

If you are considering retiring early, there are lots of things to think about, including taxation that might apply if you access your super before you’re 60. But we’ve got lots of information to help you if you’re asking yourself any of these questions?

Can I retire before I’m 60?
Do I have to access my super/pension as soon as I retire?
How do I open an Income Stream?

Making sure that your retirement savings are in the right investment option for you is so important.

It doesn’t have to be complicated to make the choice that’s right for you.

Watch our quick video now (1:15 minutes) or read more in the article (click the button).

Still have a mortgage at retirement?

More and more people reach retirement and still owe money on their home loan. But there are options. Watch our video for a couple of examples

(2:39 minutes)

Use the projection calculator to try different scenarios for your retirement and see how your money could last.

(1:06 minutes)

Access the calculator here.

What is an Income Stream?

Want more information about an Income Stream and how it works?

See our How Super Works In Retirement Super Hints web page.

What happens to your super if you die?

You might be surprised to discover that your super might not be automatically paid to the person you expect if you die.

However, you can nominate who you want to receive your super if you die. That includes who receives your Income Stream. It could give you and your loved ones some piece of mind. If you have an Income Stream, there are 2 choices:

Reversionary Beneficiary

By nominating a reversionary beneficiary, your spouse could continue to receive regular income payments from the Income Stream if you die.

See the video below for more information.

Or click on the form to read more and get started.

Binding beneficiary nomination

If you don’t have a spouse, or if you don’t wish your regular income payments to revert to your spouse, you can nominate your income stream to be paid as a lump sum to your nominated beneficiary/beneficiaries.

The binding nomination form must be witnessed by 2 witnesses and needs to be updated and replaced every 3 years.

See the form for more details of who could be a valid beneficiary.

Help with what happens to your super if you die

Your spouse may be able to receive your income stream pension in ongoing regular payments if you nominate them as a reversionary beneficiary.

Our video explains more.

(1:42 minutes)

If videos aren’t you’re thing, you can read more about a reversionary beneficiary on our Reversionary Beneficiary page.

If you don’t have someone who can be your reversionary beneficiary, or you want your Income Stream balance to go to someone else, you can do this. Watch our video to learn more.

(1:35 minutes)

Putting your instructions in place now can give you and your loved ones peace of mind, both about how your assets will be distributed and your instructions for decisions about your health and assets if you’re no longer able to make your own decisions.

Things to ask before retirement

Make sure you understand the rules and how they apply to your situation. Get some tips in our article “Things to ask before retirement”.

Use our calculator to see how your super will last through your retirement. You can adjust variables, like your annual income in retirement, or your age at retirement to see what difference this could make for you.

Who are you?

When you access your super, you will need to provide proof of your identity. Read more about the requirements on our web page.

Taking lump sums from your income stream

See a couple of examples on the effect of taking lump sums out of your income stream if you have a larger starting balance.

(2:39 minutes)

See a couple of examples on the effect of taking lump sums out of your income stream if you have a moderate starting balance.

(2:50 minutes)

Recontribution

You may be planning to recontribute some of your super as part of a tax strategy. Find out more recontribution in our quick videos.

Recontribution strategies explained

(2:27 minutes)

Leaving super to your beneficiaries

(1:33 minutes)

Timeline to retirement

Want to know more about the steps you can take to get ready for retirement, even years ahead of your planned retirement date?

Our timelines could help you.

Timeline for accumulation members Timeline for defined benefit members

Articles to read

There are a host of articles on our website to help you plan for your retirement:

Retirement landmines (things to watch out for in retirement)
What is recontribution?
Capital Gains Tax and your super
Aged 50+ and counting down to retirement
Timeline to retirement
Accessing your super at retirement
Downsizer contributions
Making the most of the age pension

Forms and page links

Here are some of the forms and other resources that might be useful when looking to access your super

Want to access our other forms, pages and calculators? See the Resources/Forms page.

Benefit payment form

To access some or all of your super, use the Benefit Payment form

Nominate a reversionary beneficiary

If you have an Income Stream, you can nominate your spouse to continue to receive your regular payments after you die.

Rollover - no paperwork

If you’re rolling super from other accounts to incorporate into your Income Stream, make sure you allow enough time for the rollover to be actioned by the other super company.

You can action a rollover easily with no paperwork using your my.Gov.au account.

Rollover - use a form

Don’t have a myGov account and want to roll other super into ElectricSuper? You can use the paper-based form.

You’ll need to allow more time for this request to be actioned.

Notice of intent to claim a tax deduction

If you’re planning to claim a tax deduction for any super contributions, use this form

Contribution splitting

If you’re planning to split contributions to your spouse, use this form

Tax file number declaration

If you need to provide us with your tax file number, use this form.

Benefit payment for (for Division 3 Pension members only)

To access your Division 3 Pension account, use the Benefit Payment (Division 3 Pension) form