Welcome to the Super SA Income Stream
If you need a tax-effective post retirement product where you can access your super as a regular income as you head into retirement, the Super SA Income Stream is a great option for you. It’s a cost effective product only available to Super SA members and their spouses.
- A regular income paid fortnightly, monthly, quarterly, half yearly or annually
- The ability to choose the amount of your annual income (subject to the minimum amount set by the Commonwealth Government)
- Access to your money when you need it (subject to preservation rules)
- A choice of seven investment options, and
- Competitive administration fees.
So if you’re close to retirement and you:
- want to keep your money invested in a tax effective super environment
- want to use your super as a regular income
- and don’t want to withdraw your super as a lump sum
then the Super SA Income Stream may be a good option for you.
Tax information you need to be aware of
Investment earnings on an income stream in the Transition To Retirement (TTR)1 phase are taxed at up to 15%. This means that if you have a TTR Super SA Income Stream, your investment earnings are not tax free. This is irrespective of when the transition to retirement income stream commenced.
If you have reached your Commonwealth preservation age and are permanently retired, or you have ceased employment after age 60, you can elect to formally move into the retirement phase, by completing the Retirement Declaration Form and returning it to Super SA.
Transfer Balance Cap
The $1.6 million Transfer Balance Cap for retirement phase accounts will limit the amount of superannuation that can be transferred into the tax-free retirement phase. If you have more than $1.6 million in retirement phase accounts, you should seek financial advice.
Amounts held in Transition to Retirement Income Streams do not count towards the Transfer Balance Cap.
If you have a TTR phase arrangement in place, you will find information relating to unit prices on the following pages:
- TTR phase unit prices
- TTR phase investment performance
- TTR phase yearly rates of return
1 TTR phase: you must be between your Commonwealth preservation age and 65 and have not met a condition of release. Once you have satisfied a condition of release you will be deemed to be in the Retirement phase.
The Income Stream was awarded SuperRatings' gold rating. It is recognised as offering the greatest potential for members to maximise their retirement savings in a well serviced, secure environment while offering financial planning services and member education.
It has also received the highest rating of 5 Apples from Chant West. This rating recognises quality super funds based industry best practice in areas such as organisational strengths, investments, fees, administration and member services.
The Super SA Income Stream has received a AAA quality assessment rating by Rainmaker. This is based on a review of the key dimensions of a superannuation product, including organisational strength, investments and communications.