MTAA Super Pension

A MTAA Super Pension account can be a tax-effective way to invest as there is no tax payable on investment earnings and after age 60, you don’t pay tax on your pension payments. If you’re under age 60, you can get a tax rebate on some of your pension income. 

Setting up a pension is easy and we’re here to help if you have any questions. 

Note: There is a limit on the amount of money you can transfer into a retirement phase pension. This is known as the Transfer Balance Cap. Refer to the Pension Handbook for more information.

Here’s how a Pension works

1. Simply transfer part or all of the balance of your super account/s into a Pension account, then    
2. Nominate how much income you would like to receive and when. Keep in mind, you’ll need to withdraw a minimum percentage of the balance each year, based on your age. You also have the flexibility to make lump sum withdrawals from your Pension account.

Eligibility 

To be eligible to open a Pension account, you need to have at least $10,000 in super and have met one of the following conditions of release: 

• You have reached your preservation age and are permanently retired. Check your preservation in the table below:

• You are age 60 or over and have ceased an employment arrangement

• You are age 65 or over, or

• You have become permanently incapacitated at any age.

For more information, refer to the Pension Handbook or call us on 1300 362 415.

To apply, complete the Pension application form.