Transition to retirement

Access your super without having to completely retire.

A way to retire at your own pace

If you’re not ready to stop working all together and thinking of reducing the hours you work our Non-commutable account based pension is the product for you. 

How does it work?

The beauty of this pension is you can retire at your own pace. While you keep working and receiving employer Super Guarantee (SG) contributions you can also move across some of your super savings into the Non-allocated pension and access it as an income stream. 

This means that your super balance will continue to grow through this period. At the same time, you’ll receive income payments, transferred directly to your bank account.

Joining and eligibility 

Joining is easy. All you need to get going is $10,000. 

There are also no fees for joining, withdrawing, exiting, or investment switching, and no fees for advisers, for performance, or commissions. (Buy/sell spreads and other investment fees may apply).

There is a 0.35% account keeping fee. If your account balance is above $300,000, your administration fee is capped at a balance of $300,000 (maximum of $1,050). (Buy/sell spreads may apply).

To be eligible, however, you must have reached preservation age.


There are number of benefits to opening an Non-commutable account based pension.

  1. If you’ve reached preservation age, you can receive a 15% tax offset to reduce the amount of tax you pay. 
  2. If you’re aged 60 or over, it’s even better because your pension income is tax free.
  3. Like a Vision Super or Vision Personal account you can choose from the investment options we have to offer. This way you can choose the investment strategy to suit your circumstances and goals. 
  4. Increase your income. Continue receiving your salary from working your job but with a Non-commutable pension you can receive an extra source of Income.
  5. Cutting back on your hours but maintaining your income will provide you with more time to spend doing the things you love.

Need advice

Make an appointment with a Vision Super Financial Planner who will provide information and advice about your super or pension.

Bookings can also be made by calling 1300 300 820. 

Open an account

If you are ready you can open your account online. It’s as simple as that. Or if you prefer you can request a call and we can help set one up for you.

We're here to help

You might find the answer to your question in the FAQ below. If you don’t find it there, you can call our Retirement hotline on 1300 017 589. Or complete the quick contact form and one of our team will contact you within the next two business days. 

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, so we recommend seeking financial advice first.

You have access to make lump sum withdrawals (over and above your income payments) however, with the Non-commutable allocated pension this is limited and you can only commute your pension by transferring your account balance into an accumulation plan.

Your regular 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.

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.

Already a Vision Super member?

The great news is you can now open your pension account online through the secure site.

Not a Vision Super member?

You’ll just need to open a Vision Personal account first and then you can transfer across to a Vision Super pension.