Income streams

What is a retirement income stream?

An income stream is simply a way of receiving a regular income, and it’s how many retirees access the money that they have built up in their super fund. The regular income is like getting a salary but better because super income streams are tax-free for people over 60 years of age.   

What is an account-based income stream?

Most income streams are account based, that is you set up an account with your super fund, transfer a portion of your super to the account and then your fund pays you the amount you choose (subject to minimum drawdown requirements). The balance of your income stream account remains invested just as it was while you were working.

It’s like a regular income. It’s your money and you stay in control.

Different super funds offer different income stream products, and your super fund will be able to give you all the details of its particular income streams, including minimum transfers and withdrawals.

Most funds however offer two common income stream products:  

• A transition to retirement income stream for those easing back on the hours they work

and

• A retirement income stream for full retirees who no longer work for a wage.

The choice of product depends on your retirement goals and whether you want to continue working or not.

Of course, you must be able to access your super before taking advantage of an income stream.

Transition To Retirement
Try our TTR calculator