Want to withdraw funds from your Flexi Pension, change your investment options, update your address and contact details, or complete another transaction? Here’s what you need to know.
How long transactions take
Most transactions will be completed within five working days of receiving your request.
MemberOnline is the quickest and easiest way to switch your investments.
If we receive your investment switch request before 2pm on a Melbourne working day, that switch will take place two Melbourne working days later.
Investment choice form
You can also submit an investment switch by completing and returning the Investment choice form.
We’ll process forms as soon as possible from the date we receive them.
You can read more about our investments in How we invest your money.
Flexi Pension transactions
CAN I ADD FUNDS TO MY FLEXI PENSION?
You can’t make contributions to your pension once it‘s been opened. Any future employer contributions must be made to a super account (like Accumulation 1). You can also make personal contributions to a super account (if eligible) and transfer funds from other super or pension accounts.1
1If you’re aged 65 or over but under 75, you must satisfy a ‘work test’ to make salary sacrifice or after-tax contributions—i.e. you must have worked at least 40 hours in a period of not more than 30 consecutive days in the financial year the contribution is made. If your total super balance at 30 June of the previous financial year reaches the general transfer balance cap (currently $1.6 million), you’re generally unable to make non-concessional (after-tax) contributions.
If you want to add extra funds to your pension, you can either:
- open another pension account using the funds in your super account, or
- close your existing Flexi Pension account and open a new pension with the combined money from the existing pension and super accounts (if you have at least $25,000 to invest). We recommend you speak to a financial adviser first as your eligibility for the Age Pension or Commonwealth Seniors Health Card may be affected. See Receiving the Age Pension for more details.
Transactions for all pension types
Find out more about managing your pension payments.