An account-based income stream (sometime referred to as account-based pension) makes accessing your super after retirement a piece of cake. It's a SUPER flexible option, and here's why it's so cool:
When you open an account-based income stream with your super, you get to enjoy a regular income. And the best part? If you're over 60, that income is tax-free!
So, picture this: You're chilling out in retirement, receiving a regular income without worrying about taxes (if you're over 60), and the rest of your super balance is still being invested. Win-win!
You choose how much and how often you get paid
Choose between three investment options, or a combination of the three
You can withdraw extra money when you need it
With an account-based income stream, you can choose how much and how often you're paid. To set up an account-based income stream, just follow these steps:
Log in to your Child Care Super account
Set up a GuildPension in your online account
Transfer some or all your super into your new GuildPension account
Select how much and how often you want to be paid your regular income
We want to ensure an account-based income stream is the right choice for you.
To be eligible for an account-based income stream, you need to have met a condition of release . If you’re not sure what this is, head back to your super in retirement.
Keep in mind that there is a limit on how much you can transfer from your super to an account-based income stream. Learn more about the transfer balance cap.
If you're no longer working or contributing to your super, you need to inform us if you wish to keep your current insurance. Your protection matters, so make sure you have it sorted out if insurance is important to you.
Take your time to carefully consider all your options before making any decisions. We strongly advise speaking with a licensed financial adviser to determine which retirement strategies best suit your needs
Page last updated 24 November 2023