Income Stream

Income Stream

While you’re working, your super is growing, helping you save for retirement. When you turn 60, you can turn your super savings into a regular source of income with a Transition to Retirement Income Stream (TTR) – so long as you’re still working.

Once you’ve retired, including if you retire early because of total and permanent disablement, you can access your super through a Retirement Income Stream.

What’s an Income Stream?

An Income Stream is an account you open with the super you’ve grown over your working life. Once the account is set up, you draw regular payments (an income) from your Income Stream directly into your bank account. You get to choose how the money in your Income Stream is invested – so that it keeps working for you.

Who is a Super SA Income Stream for?

If you’re a Super SA member and you’re close to retirement or already retired, this option could suit you, if:

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You want regular income from your super

Set up flexible payments to support your lifestyle in retirement.

Growth.svgYou want to stay in a tax-effective super environment

Keep your money invested in an account where earnings are either tax-free or taxed at a low rate of up to 15%1.

Consolidate - Roll In my Super.svgYou want flexible access to lump sums

Withdraw extra amounts when needed (subject to preservation rules).

Types of Income Stream accounts

The type of Income Stream account you have will depend on your age and if you’re still working or not.

  • Transition to Retirement Income Stream
    If you’re still working and aged between 60 and 64, you can open an account as part of a Transition to Retirement strategy.

  • Retirement Income Stream
    If you’ve already retired or you’re over 65, you can start a Retirement Income Stream. (This option is also available if you’re a member receiving a death benefit as a spouse)

Estimate your retirement balance

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Use our online calculator to see how a Transition to Retirement strategy could work for you or estimate what your balance could be at retirement.

Retirement income calculator

Transition to Retirement Income Stream

Once you turn 60, you can start receiving a regular income through a Transition to Retirement (TTR) Income Stream. It’s a flexible way to ease into retirement while still working, as it lets you increase your take-home pay or reduce your hours without losing income.

Curious how it works? Visit our Transition to Retirement page for practical case studies that show TTR in action.

With a TTR Income Stream, you can:

✓ Access up to 10% of your Income Stream balance per year
✓ Select how much you’d like to get paid and how often
✓ Receive tax-free income payments
✓ Combine with salary sacrifice to boost your super
✓ Choose how your money is invested or keep the default option
✓ Choose from three drawdown options to suit your needs

Retirement Income Stream

When you retire or turn 65, you can receive a regular income through a Retirement Income Stream. This may supplement other income sources like the Age Pension (if you qualify).


With a Retirement Income Stream, you can:

✓ Select how much you’d like to get paid and how often
✓ Make lump sum withdrawals with no limits
✓ Receive tax-free income payments
✓ Enjoy tax-free investment earnings
✓ Choose how your money is invested or keep the default option
✓ Choose from three drawdown options to suit your needs

How to start an Income Stream

1. First, check your eligibility.

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You can open a Transition to Retirement Income Stream if all of the following apply:


    • You’re between the age of 60 and 64 and still working
    • You have at least $36,500 in your Triple S account
    • You haven’t made a partial transfer or received a Transition to Retirement benefit from your Triple S account this financial year.
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You can open a Retirement Income Stream if any one of the following applies:


    • You’re aged 65 or older
    • You’re between the age of age 60 and 64 and have permanently retired
    • You’ve stopped working after turning 60 (even if you haven’t permanently retired)
    • You’re under the age of 65 and have retired due to total and permanent disablement
    • You’re the spouse recipient of a superannuation death benefit.

2. Decide how much to roll over and draw down

To get started, you’ll need to roll over at least $30,000 from your existing Super SA account into your Income Stream.

When choosing how much income to draw, keep in mind:
  • There’s a minimum income amount you’ll need to take, based on your age.

If you’re opening a Transition to Retirement Income Stream, there are a few extra things to note:

  • You’ll need to keep at least $6,500 in your Triple S account (or $25,000 if you are a Police Officer or an operational SA Ambulance Officer).
  • You can access up to 10% of your Income Stream balance each financial year.
  • Only one partial transfer from Triple S is allowed per financial year.

Ready? Simply follow the instructions here: Open an Income Stream

Important tax information                          

When funds are transferred into the Income Stream from an untaxed fund like Triple S or the Lump Sum Scheme, tax will be applied to the taxable (untaxed) component. The taxable (untaxed) component is generally made up of employer and salary sacrifice contributions, and investment earnings. The untaxed component will be taxed at 15% when you roll it over into a taxed super fund, like an Income Stream account. Taxable (untaxed) amounts over $1,865,000 will be taxed at the top marginal rate plus Medicare levy.2

Frequently asked questions

  • When applying to open an Income Stream, you can select from the following payment frequencies:

    • Fortnightly
    • Monthly
    • Quarterly
    • Half-yearly
    • Annually

  • We’ll transfer funds from your Income Stream into your nominated bank account.

  • Yes, Income Stream members can change their payment frequency and amount at any time. You can do this through the member portal, or by completing the My Payment Details form. Changes made via the portal are updated immediately, while form submissions may take a little longer to process.

  • Each financial year, you must draw down a minimum amount from your Income Stream. The rate is set by the Australian Government and depends on your age (see the table below). For the first year, the minimum amount is calculated on a prorata basis. For example, if you start an income stream halfway through the year and you are under 65, your minimum would be 2% of your opening account balance which you would receive over the remainder of the year.

    Age              Minimum income drawdown

    Under 65

    4%

    65-74  

    5%

    75-79

    6%

    80-84

    7%

    85-89

    9%

    90-94  

    11%

    95 or more

    14%

  • Super SA’s Income Stream offers a range of investment options. Each option is designed to achieve different investment objectives – putting you in control. You can choose either one or a combination of investment options for your Income Stream. You can also switch between options at any time through the member portal.

    Click here to learn more about investment options and performance.

  • Investment fees and costs, and transactions costs vary depending on your investment options. The following fees and costs are for the Balanced investment option.
    Refund.svgAdministration fees and costs

    0.15% p.a. of your account balance (minimum $70.20 p.a. to a maximum of $375 p.a.)3

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    0.53% p.a.4

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    0.11% p.a.4

    For a complete overview of fees and costs, see the Income Stream Product Disclosure Statement.

  • Yes, the minimum opening balance for a Super SA Income Stream is $30,000. If you would like to open an additional account, the minimum opening balance for each additional account is $10,000.

    If you’re considering multiple income streams, we highly recommend speaking to a financial adviser.

  • You can make a lump sum withdrawal of at least $1,000 from a Retirement Income Steam.

    You cannot withdraw lump sums from a Transition to Retirement Income Stream, unless your account holds unrestricted non-preserved money (i.e. money that has already met a condition of release and can be paid at any time), or you have been approved for early release of super (for example, on compassionate grounds or due to financial hardship).

  • If you have a Retirement Income Stream, your investment earnings are tax-free.

    If you have a Transition to Retirement Income Stream, your investment earnings are taxed up to 15%. For more information, refer to the Income Stream Product Disclosure Statement.

  • If you have more than one investment option in your Income Stream account, we will manage the drawdown order for you. However, if you’d prefer, you can choose from the following:

    • Nominated Order – You choose the order in which your investments are accessed.

    • Nominated Percentage – You set the percentage to be drawn from each investment option.

    • Proportional – Payments are drawn in the same proportions as your current investment holdings.

    You can nominate your preferred drawdown method from the available choices when you open your Income Stream account. Or you can update it anytime via the member portal.

1 Earnings are tax free when you’re retired, from a super death benefit or from age 65; or taxed at a low rate of up to 15% if you are still working and therefore in transitioning to retirement phase.
2 This cap is for the 2025-26 financial year. Any tax payable on amounts in excess of $1,865,000 are deducted in the untaxed scheme (such as Triple S) rather than in the Super SA Income Stream.
3 An additional 0.0125% p.a. administration fee and cost is deducted from your investment in relation to an Operational Risk Reserve.
4 The Balanced investment management costs for the 2024-25 year. Investment management costs vary from year to year and vary across investment options.
The superannuation schemes administered by Super SA are exempt public sector superannuation schemes and are not regulated by the Australian Securities and Investments Commission (ASIC) or the Australian Prudential Regulation Authority (APRA). Super SA is not required to hold an Australian Financial Services Licence to provide general advice about a Super SA product. The information on this website is of a general nature only and has been prepared without taking into account your objectives, financial situation, or needs. Super SA recommends that before making any decisions about its products you consider the appropriateness of this information in the context of your own objectives, financial situation, and needs, read the relevant Product Disclosure Statement (PDS), and seek financial advice from a licensed financial adviser in relation to your financial position and requirements.

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