You can let us know if you want to change how much you receive each pension payment, how often you receive these payments or where you want your payment to go. In fact changing your pension details is easy!
Have you thought about what might happen to your super benefit when you die? You can tell us where you’d like your money to go by nominating a beneficiary.
Superannuation legislation prevents you from adding money to your Pension account but there are things you can do if you think you’ll need to add money to your pension.
The Australian Government sets a minimum pension drawdown rate that is based on your age at the time of opening your Pension account, and then on 1 July each year.
During the 2020/21, 2021/22 and 2022/23 financial years, the Government temporarily reduced the minimum drawdown rates on account-based pensions by 50%. However, from 1 July 2023, the relief will be withdrawn and the rates will return to their default level.
Changing how your super is invested is simple, and comes at no cost.
Use our retirement income calculator to get an idea of your future finances.
Member online makes it easy to see the level of return your super's providing.