MTAA Super Pension
Turn your super into a flexible and reliable income stream in retirement
MTAA Super Pension key features
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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