We are here to help you plan for retirement.
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!
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:
- a simple and competitive fee structure
- choosing how much income you want to draw out (within legislated limits)
- choosing to be paid fortnightly, monthly or annually directly to your bank account
- varying your payment arrangement at no charge up to four times a year
- no withdrawal fees apply
- online access to your account information 24 hours a day
- a choice of professionally managed investment options
- the option to nominate one of your dependants as a reversionary beneficiary – or make a binding or non-binding nomination
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 transfer balance cap ($1.7 million from 1 July 2021). 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 $1.7 million, you do not have to withdraw the excess amounts).