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  1. Retire with us /
  2. Pension options /
  3. Back /
  4. MTAA Super Pension

MTAA Super Pension

Turn your super into a flexible and reliable income stream in retirement

An MTAA Super Pension is a flexible and tax-effective way to keep your retirement savings invested while receiving a reliable and regular income in retirement. You also have the flexibility to make lump sum withdrawals as needed.

MTAA Super Pension key features 

Flexible income options

You choose how often to receive pension payments and how much to be paid (within minimum and maximum allowances)

Choose how we invest

Choose one or a mix of eight investment options to suit your retirement needs.

Low fees

Admin fees of only $1.50 per week, plus 0.10% p.a. of your account balance.

Tax-free investment earnings

Investment earnings are reinvested into your account tax-free.

Tax-effective income

If you’re 60 or over, pension payments are tax-free income. If you’re under age 60 but have reached your preservation age, you may receive a tax rebate on some of your pension income.

Access to lump sum payments

Your savings are not locked away. You can access lump sum payments any time.

How a MTAA Super Pension works


STEP 1

You transfer part or all of your super into a new MTAA Super Pension account. You can transfer super from more than one fund into your account. Minimum opening balance is $10,000. Maximum opening balance is $1.6 million.

 

STEP 2
You tell us how often you want to receive pension payments (fortnightly, monthly, quarterly, half-yearly or annually) and how much you would like to receive each year. This amount needs to meet the minimum amounts set by the government (see below).

Age

Temporary minimum withdrawals for 2019-20 and 2020-21 (%)

Normal minimum % withdrawal 

Under 65

2% 

4%

65–74

2.5%

 5%

75–79

3% 

6%

80–84

3.5%

 7%

85–89

4.5% 

9%

90–94

5.5%

 11%

95 or more

7% 

14%


STEP 3

We pay you a regular income from your account until your pension account balance is zero.

You also have the flexibility to make lump sum withdrawals any time – perfect if you want to take a holiday or for an unexpected expense.

 

Eligibility

To open a MTAA Super Pension account, you need to have at least $10,000 in super and must meet one of the following conditions of release.

  • You have reached your preservation age and are permanently retired
  • You are age 60 or over and have ceased an employment arrangement
  • You are age 65 or over
  • You have become permanently incapacitated at any age

If you have reached your preservation age and are still working, you may be eligible to commence a MTAA Super Pension Transition to Retirement (TTR) account.

Learn more about MTAA Super Pension TTR

 

Preservation age (the age at which you can withdraw your super)

Date of birth

Preservation age

Before 1 July 1960

55

1 July 1960 – 30 June 1961

56

1 July 1961 – 30 June 1962

57

1 July 1962 – 30 June 1963

58

1 July 1963 – 30 June 1964

59

After 30 June 1964

60

MTAA Super Pension handbooks and fact sheet

For full details about MTAA Super Pension accounts, including all fees, costs, and terms, read the Pension Handbook and Super Pension fact sheet.

  • Pension Handbook (pdf): Full details about your pension options including eligibility, fees, conditions and exclusions.
  • Super Pension Fact Sheet (pdf): An overview of the key features of an MTAA Super Pension account. 

Apply for a MTAA Super pension

 

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