WHY TEAM SUPER
Choosing to convert your super to a pension may save you tax and keep your money working for you while you receive an income. Team Super offers three types of pension accounts:
A pre-retirement pension.
An account-based pension.
A death benefit income stream.
You can open a Team Super pension account if you have at least $15,000 to invest and meet the following criteria:
PRE-RETIREMENT PENSION
you’ve reached your preservation age; and
you’re either working or still seeking employment (i.e. not permanently retired); and
you’re under age 65; and
you’re a permanent Australian resident.
ACCOUNT-BASED PENSION
you've reached your preservation age and have retired; or
you're aged 65, whether retired or not; or
you're totally and permanently disabled.
DEATH BENEFIT INCOME STREAM (DBIS)
you're paid a death benefit and are a dependant of the deceased. Dependants include a spouse, a child under 18 years of age, a financially dependent child under 25 years of age, a child who is disabled irrespective of their age, or a person who was in an interdependency relationship with the deceased.
Keep in mind that a DBIS will count towards the beneficiary's 'transfer balance cap'. This is the limit the government has put on the total amount of super that can be transferred into a pension. It’s currently $1.9 million (indexed in $100,000 increments in line with inflation).
HOW TO APPLY
To open one of our pension accounts, follow these simple steps.
Within five business days of receiving your application, we'll set up your pension account. If we have any questions about your application, we’ll be in contact with you.
1. DOWNLOAD PDS
Download and read our Pension Product Disclosure Statement (PDS) which includes application forms for each pension account. Before joining, make sure you read our TMDs to decide if our products are right for you.
2. COMPLETE APPLICATION
Fill in the relevant application form and complete all mandatory fields.
If you're under age 60, you'll also need to complete a Tax file number (TFN) declaration (PDF).
When you open a new account, you’ll be automatically invested in our Lifecycle Investment Strategy (for pre-retirement pensions) or the Balanced investment option (for account-based pensions) if you don’t make a selection as part of your application.
3. CERTIFY YOUR ID
You’ll need to provide certified ID (PDF) before we can release any money from your account. If you’ve previously supplied certified identification to us, we’ll keep it on file for the next time you might need this identification. If your certified identification on file is no longer current or your personal details have changed, you’ll be required to send in new certified identification.
4. SUBMIT
Send your completed form/s by:
Post: Team Super Locked Bag 2020 Newcastle NSW 2300
THE TEAM SUPER DIFFERENCE
Administration fee of 0.16%p.a fee charged on your account balance.
We perform for you - 10.45%pa for our Balanced investment option over the last five years (as at 30 June 2024)^, which is above the industry median.
We’re proud of the Team Super trophy cabinet, with our Pension product being awarded SuperRatings Platinum Performance rating for 15 consecutive years.
We offer all Team Super members a complimentary first appointment with Team Super Financial Advice.
We don’t charge fees for investment switching.
Easy, online management of your pension payments.
^ Past performance isn't necessarily an indication of future performance.
HOW WE COMPARE
See for yourself how we compare against 200 other super funds.
WHAT HAPPENS NEXT?
Once your pension account has been created, you’ll receive further information from us so you can make the most of your account!
PENSION PAYMENTS
During your retirement, your lifestyle and personal situation may vary. This means you may need to adjust your pension payment amount from time to time.
With a Team Super pension account you can choose how much you’d like to receive and how often you’re paid.
INVESTMENTS
Online account services
HELPFUL RESOURCES
We believe knowledge is one of the ways we can empower our members to make financial decisions that are in their best interests.
Browse through our knowledge hub which covers lots of different topics, from understanding the Age Pension income test through to the investment basics such as asset classes.
Don't qualify for the Age Pension? Find out what benefits you may be entitled to.
The choice is yours when it comes to which investment option to withdraw lump sums from. Learn about the benefits of creating your own mix.
Learn why a pension is a popular way for Australians to manage their retirement savings, and how it can make your money go further.
We answer the top five questions when it comes to choosing who’ll receive your super or pension benefit when you pass away.
Past performance isn't necessarily an indication of future performance.