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.
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.
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
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).
Temporary minimum withdrawals for 2019-20 and 2020-21 (%)
Normal minimum % withdrawal
95 or more
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.
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.