Income in retirement - how to access your super

Ever wonder what happens to your super after you retire? You’re not alone. In this episode of Super Insider, Australian Retirement Trust educators Ruth Weaver and Steven Fehring unpack the power of retirement income accounts - also known as account-based pensions - and how to turn your super into a reliable income stream once the pay checks stop.
Tune in to learn the simple rules and surprising benefits of these accounts, so you can plan a stress-free golden age with confidence.
Here's what’s covered:
01:38 What’s an income account?
02:23 What's the difference between superannuation and income accounts?
05:17 What are my payment options?
05:46 How much money do I have to take out?
07:08 How long is my super going to last?
08:34 What are the advantages of an income account?
09:56 Am I eligible to open an income account?
11:10 Can I change my mind?
11:52 Can I have a joint account?
13:18 When can I open an income account?
14:15 How do I compare income accounts?
17:03 How much can I put into an income account?
17:39 What's the minimum drawdown amount?
18:55 Can I close an income account?
20:03 How do I open an income account?
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CREDITS:
Ruth Weaver, Australian Retirement Trust Education Manager
Steven Fehring, Australian Retirement Trust Member Education Officer
Any advice given is provided by representatives of Sunsuper Financial Services Pty Ltd (ABN 50 087 154 818, AFSL 227867) or QInvest Limited (ABN 35 063 511 580, AFSL 238274), both wholly owned by the Trustee as an asset of Australian Retirement Trust. As representatives, they may recommend ART superannuation products when they are appropriate. Please refer to the relevant Financial Service Guides available at art.com.au/fsg for Super Savings and at qsuper.com.au/disclosure for QSuper. The content is provided for general information and educational purposes only, any personal views and opinions in this podcast are not necessarily the views of the Trustee.
This information and all products are issued by Australian Retirement Trust Pty Ltd ABN 88 010 720 840 AFSL No. 228975, the trustee of the Fund, Australian Retirement Trust ABN 60 905 115 063. Any reference to "QSuper" is a reference to the Government Division of the Fund. Information is correct at the time of publishing. This is general information only and does not take into account the investment objectives, financial situation or needs of any particular individual. You should consider if the information is appropriate to your own circumstances before acting on it. You should also consider the relevant Product Disclosure Statement (PDS) before deciding to acquire or continue to hold any financial product and also the relevant Target Market Determination (TMD). For a copy of the PDS or TMD, please phone 13 11 84 or go to the Australian Retirement Trust website at art.com.au/pds or for QSuper products visit qsuper.qld.gov.au/pds or call us on 1300 360 750 for a copy.

[@andrewsmith2934]

Very interesting and informative ☑️

[@swolath]

If I was greedy and keep my pension in high growth and took my 5% once a year trying to pick market highs. Where will that. 5% come from? Can I choose to receive it from cash part and rebalance when there is a market high in the second half of the year when the balance has had a chance to grow. While keeping 3 years of emergency funds safe in the bank because super is full at TBC.
Thank you for your advice.

[@AustralianRetirementTrust]

Hi Swolath,
Thanks for you message. You can get financial advice on your superannuation with ART as part of your membership with us by calling 13 11 84 or request a call back in the link below.
www.australianretirementtrust.com.au/contact-us/request-appointment-with-qualified-financial-adviser#form
Thanks !
^Phil (ART)

[@vivianoosthuizen8990]

Obviously superannuation is a scam because how come there’s no growth.?
Most superannuation funds primarily invest in shares. Ordinary Australians can do the same thing by setting up a brokerage account and buying shares with their spare money.
At retirement age, investors are typically focused on generating passive income. So, they tend to invest in ASX dividend shares, preferably with full franking.
As we've reported, if you invested $5,000 per year in ASX shares from age 20 to 67, you could have a retirement income portfolio of $1.5 million delivering a passive income stream of $100,000.

[@tonylander3512]

I dislike the woke introduction. Its just not necessary.

[@sjdtmv]

Did me in, I will pass