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Once you retire from the workforce after you reach your preservation age, you can withdraw your superannuation savings as a lump sum or you can use up to $1.6 million* from your AvSuper account to purchase an income stream. An income stream, or pension as they are sometimes called, is simply a gradual withdrawal of your super money as regular payments to replace your working income.

Starting an AvSuper Income Stream

You can start an AvSuper Income Stream whether or not you have an AvSuper account, and you can have an income stream alongside an AvSuper account.

And all you have to do to start an AvSuper Income Stream is fill in an Income Stream application form!

Requirements to start an AvSuper Income Stream

To be eligible to start an AvSuper Income Stream you need to meet the following requirements:

  • be an Australian resident or citizen
  • have an initial balance of $20,000
  • meet legislated age rules (generally preservation age or older) OR legislated disability rules
  • not have exceeded your transfer balance cap (across all income streams in your name) from 1 July 2017

You do not have to be an existing AvSuper member to open an AvSuper Income Stream.

AvSuper income streams

Turn your super savings into a flexible, tax effective income stream and keep control of your retirement nest egg. Some of the features you will enjoy are:

Further information on AvSuper’s income stream options can be found in the AvSuper Income Stream Product Disclosure Statement. To start an AvSuper income stream, just complete a Retirement Income Stream Application and send it to us.

Further information on AvSuper’s income stream options can be found in the AvSuper Income Stream Product Disclosure Statement. To start an AvSuper income stream, just complete a Retirement Income Stream Application and send it to us.

*Since 1 July 2017, legislation limits income stream balances to a maximum of $1.6 million. This is a total of all income streams owned by any individual. Earnings after 1 July 2017 are not considered to breach the cap (ie if your earnings take your balance over $1.6 million, you do not have to withdraw the excess amounts).

Live Chat Support Software

Phone 1800 805 088 (Free call)
Email:
avsinfo@avsuper.com.au