What is a Retirement Phase Flexi Pension?
A Retirement Phase Flexi Pension allows you to access your super as a regular income all while investing your balance in an account-based pension with competitive fees. If you’re already a UniSuper member you may be able to open a Retirement Phase Flexi Pension by logging into your online account and applying online.
Retirement Phase Flexi Pension eligibility
To be eligible, you need to have reached age 65, retired after reaching preservation age or on or after turning 60 ceased an employment arrangement.
Already a UniSuper member? You can skip to step 3.
If you’re not currently a UniSuper member, you’ll need to open a Personal Account. Simply follow the steps below to get started.
Create an income from your super in three steps
1. Join UniSuper
To get started, you need to open a Personal Account and become a UniSuper member.
Opening a Personal Account takes less than 10 minutes and all you need is a personal email address and your mobile number.
2. Transfer your super using your online account
Now that you're a member, you can set up an online account and transfer any super you may have in different funds over to one UniSuper account.1
To set up your Flexi Pension, you will choose the amount to transfer from your Personal Account.
3. Apply online
Before you apply for a Retirement Phase Flexi Pension, there are important things to consider:
- What amount do you wish to transfer from your Personal Account to your Flexi Pension account? There is a minimum amount of $25,000.
- Choose fortnightly, monthly, quarterly, half-yearly, or annual income payments to suit your needs, subject to the legislated minimum rates.
- What investment options do you want your balance to be invested in?
To apply, you’ll need:
- Your bank details so we can pay your super into it,
- Proof of I.D such as a driver’s licence, Medicare card or passport
Before making decisions, you should consider the PDS and TMD on our website, and whether the information is appropriate for your circumstances because we haven’t, otherwise seek financial advice.
If you are a Defined Benefit Division (DBD) member, you cannot apply online. Please chat to an adviser below.
Our advice team are here to help
Our retirement advice team are available to answer the questions you may have, over the phone or in-person at a member centre.*
Discover more about living in retirement
Estimate your retirement income
The Retirement Income Calculator can help you estimate how much income you could receive throughout your retirement.
Tax and your retirement income account
Most UniSuper income payments are tax-free for everyone aged 60 and over.
Manage your retirement income account
Manage your account including income payments, withdrawals, and nominating a beneficiary.
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Things you need to know
1 Before combining your super, consider the possible effects this might have on things like the fees you pay, the conditions of your insurance (including whether you can transition your insurance in your other fund to UniSuper) and the tax on your super. There could be other effects too, so it’s best to seek financial advice if you’re unsure.
* UniSuper Advice super consultants can give you information and tell you what is generally recommended for our members. This advice will be of a general nature only and will not take into account your personal circumstances.