How a pension works

You can invest your super in a Club Plus Pension to receive tax-effective regular income in retirement. Money is invested in your choice of investment options, with a pension income payable to you as long as there is enough money in your Club Plus Pension account to make the payment.

A superannuation pension gives you the flexibility to choose how much pension you receive each year (subject to Commonwealth Government limits). You may also take part of your pension account balance as a lump sum (unless it is a Transition to Retirement Pension, in which case you must meet a condition of release). Lump sum payments may impact on the ability to sustain your pension over the long-term. Upon your death, the balance of your account is payable to your dependants or legal personal representative, or you can elect for your pension to continue to be paid to your spouse as a reversionary pension.

For more information, refer to the Pension PDS or contact our Pension Hotline on 1800 204 194.