Frequently Asked Questions

Centrelink needs to know some details so they can calculate payments such as the age pension. We provide this information directly to Centrelink electronically, on your behalf, every February and August. You can request a Centrelink schedule from Vision Super at any time.

No. Once you have opened an account you cannot make any additional contributions. However, you can close your existing account and open a new account, combining any additional contributions with your existing balance.

Important to know: Government changes to deeming rules could affect you if you choose to close your current account and open a new one. To find out whether your entitlements – including the age pension – could be reduced, we recommend seeking financial advice first.

You have access to make lump sum withdrawals (over and above your pension (income)) payments from a retirement pension however, with a transition to retirement pension lump sum withdrawals are limited and you can only commute your pension by transferring your account balance into an accumulation product.

Your regular pension income payments will be paid directly to a personal or joint bank account nominated by you in your application form. You can choose to receive payments twice monthly, monthly, bimonthly, quarterly, four-monthly, six-monthly or annually.

You need to have met preservation age and have a minimum investment amount of $10,000. Other eligibility conditions apply. Refer to the Vision Super Income Streams PDS for further details.

Eligibility for the government age pension depends on your age, residency status, and the income and assets tests. How much you receive is subject to the income you receive from other sources (including your superannuation) plus the value of your assets. If you are eligible, for all or part of the government age pension, then combining it with your Vision Super pension can work well. You can use the age pension to meet basic living costs and spending money can come from your Vision Super pension.

When you open your Pension account, you’ll have the option of nominating your spouse as a ‘reversionary beneficiary’. This means that if you die, the account will change ownership to your spouse and regular payments from the account will be paid to the spouse. Your spouse will then have the option of withdrawing the account balance if he/she meets preservation age and other rules. Alternatively, you can nominate one or more binding or preferred non-binding beneficiary (the beneficiary must be your dependant and/or legal personal representative when you die).

How long it will last depends on the amount of money you start with, the rate at which you withdraw income (or lump sums), and other factors such as investment returns and fees. There is no guarantee your Retirement Income Stream will provide an income for the rest of your life and payment will only continue to be made until your account balance is exhausted. Ensuring you plan and budget appropriately may assist with helping your money last. The Retirement income calculator may be able to help see if your super is on track and plan where you would like to be.

Our retire with us section can help you understand the steps you need to take to start planning for your retirement. You can:

  • Review your current situation
  • Work out what your goals are
  • Explore strategies to increase your savings
  • Use a range of tools and resources.

You can also enter your current super balance into the Retirement income calculator and receive a projection of the estimated annual retirement income you could receive once you stop working. Try it now to see what you might be able to achieve using a few basic strategies.

This is the age at which you can access your super.


Before 1 July 1960                              55

1 July 1960 – 30 June 1961                56

1 July 1961 – 30 June 1962                57

1 July 1962 – 30 June 1963                58

1 July 1963 – 30 June 1964                59

After 30 June 1964                              60

We're here to help

If you have any questions about your super or about planning for retirement, please fill in the form and we will get in touch with you in the next two business days.

Are you on track?

To help you work out how much you’ll need to live your dream retirement try our supermodeller. It’s a great way to make sure you’re on track to reach your goals