What's a Lifetime Pension?
It's a retirement income stream that never runs out. With our Lifetime Pension, you can turn your superannuation into fortnightly payments for life. And there's a spouse protection option, too.
Our award-winning Lifetime Pension also works with your Retirement Income account and the Age Pension to give you security in retirement.
Income for life
Get a tax-free income for the rest of your life, no matter how long you live.
Spouse protection
Choose to have payments continue to your partner if you pass away, so they'll have an income for life.
Money-back protection
Designed so you get your money back in fortnightly payments, or so your beneficiaries get what's left if you die.
Aged Pension benefits
Potential to either become eligible for an Age Pension or get higher payments with a Lifetime Pension.
Get an award-winning retirement plan
When it comes to making your super last, you're on a winner with our Lifetime Pension. Our latest awards are among many we've won over the years for our retirement products.
How does Lifetime Pension work?
Open a Lifetime Pension with your super
You'll need at least $10,000 in super to buy a Lifetime Pension. Your money goes into a pool of funds.
We take care of investments
The pool's invested in the Balanced Risk-Adjusted investment option for Retirement Income accounts.
Get regular income for life
You get payments from this pool for the rest of your life (and the life of your spouse with the spouse protection option).
Everyone's payments change each year to reflect the financial performance of the pool. We expect payments to go up over time, but they may go up or down in any year.
Follow Sue on her retirement journey
Watch how Lifetime Pension works with other pensions, how your money's invested, and what happens if you die sooner than expected.
What else do I need to know?
Once you open a Lifetime Pension, you'll have 6 months to make sure it's right for you. After that, it's a permanent purchase. Read all the details in the product disclosure statement (PDS).
How to open a Lifetime Pension
Once you've filled out the form at the back of the PDS, we'll then call you to finish setting up your lifetime income stream.
Check your eligibility.
Download and fill in the Open a Lifetime Pension form at the back of the Product Disclosure Statement for Income Account and Lifetime Pension
We'll call you to finish setting up your Lifetime Pension. We do this by opening a QSuper account for you (separate to your ART account/s), so you can send us the money to start your Lifetime Pension. (We'll close this account when your Lifetime Pension starts.)
Are you eligible?
You can start a Lifetime Pension between your 60th and 80th birthdays if you meet at least one of the following:
- Permanently retired
- Stopped working with your employer after turning 60
- Aged 65 or older
- Been given an eligible death benefit
- Met another approved condition of release.
How much will I get paid?
Your payments in your first year will depend on:
- Your purchase price
- Whether you have the single or the spouse protection option
- Your age when your Lifetime Pension starts (or with spouse protection, the age of the younger person)
- When your Lifetime Pension starts during the financial year
Lifetime Pension Income Estimator
Check how much you could get in your first year.
QSuper Retirement Calculator
Estimate your total income with 2 types of products.
How Lifetime Pension works with other income sources
Lifetime Pension works with account-based pensions, like our Retirement Income account. You could also get Age Pension benefits if you're eligible – only some of your Lifetime Pension counts towards Centrelink's income test and assets test.
Retirement Income account
Income for lifestyle
Gives you the flexibility to change your payments and take out money anytime.
- Works with other pensions
- Choose your investment options
- Flexible payment options
Lifetime Pension
Income for life
Adds security with payments for life and money-back protection.
- Never runs out
- Possible Age Pension benefits
- Payments adjusted yearly
Age Pension
Income safety net
Government payments to help eligible retirees pay for the essentials.
- Rates may change
- Budget lifestyle only
- Payments based on your assets and income
Have more questions?
Check the frequently asked questions (FAQs) on the QSuper website.
