Compare our pensions

You have plenty of options for managing your retirement income with our pensions.

Whether you want investment choice, flexibility in the level of income you receive each year, the ability to make lump sum withdrawals or nominate your beneficiaries, we have a pension to suit you.

Compare our pensions

  FLEXI PENSION COMMERCIAL RATE INDEXED PENSION DEFINED BENEFIT INDEXED PENSION

Minimum initial investment

$25,000 $25,000 No minimum

Contribute additional amounts

No No No

Lump sum withdrawals

Yes, but you must withdraw $2,000 or more (Lump sum withdrawals from a Flexi Pension opened under the government’s transition to retirement rules can only be made in very limited circumstances).

No No

Payment frequency

Fortnightly, monthly, quarterly, six monthly or annually

Monthly Monthly

Investment choice

Yes N/A N/A
Switching frequency Weekly N/A N/A
Fees
Establishment fee $0 $0 $0
Contribution fee $0 $0 $0
Termination fee Not applicable N/A N/A
Administration fee 1

$96 p.a. ($8 per month)

PLUS

0.16% of your account balance per Flexi Pension account, capped at $1,250 per account per financial year.

$301p.a. $301p.a.

Flexi Pension (TTR)2

Nil, while the Flexi pension is paid under the TTR rules.

Investment switching fee

$0 for the first switch per account each financial year.

Each subsequent switch within that financial year is $9.85.

N/A N/A
Investment fee

Balanced investment option: 0.35% per year.1,3

N/A N/A

Flexi Pension (TTR)

Balanced investment option: 0.42% per year.1,2,3

Indirect cost ration (ICR)

Balanced investment option: 0.09% per year.1,3

You can see the indicative ICRs for each investment option by visiting the Investment costs page.

N/A N/A

Flexi Pension (TTR)

Balanced investment option: 0.13% per year.1,2,3,4

Beneficiaries

Reversionary beneficiary

Yes (if elected)

Yes, for the Joint Life option, but this can’t be varied during the life of the pension. (Not available for the Single Life option.)

The pension is automatically a Joint Life pension and payable to your spouse in the event of your death.

1 The ICRs and investment fees shown above are indicative only and are based on the investment fees and ICRs for this investment option for the year ended 30 June 2019, including several components which are estimates only. The actual amount you’ll be charged in subsequent financial years will depend on the actual fees, costs and taxes incurred by the Trustee in managing the investment options. The amounts of investment fees and ICRs for other investment options are set out in the 'Fees and costs' section of the Flexi Pension PDS (PDF, 2.11MB), and are paid at the same frequency and in the same manner as the Balanced investment option.

A Flexi Pension - TTR ceases to be paid under TTR rules once you have reached age 65 or notify us that you have satisfied a condition allowing unrestricted access to super prior to age 65. When a Flexi Pension - TTR ceases to be paid under TTR rules, administration fees, investment fees and ICR will be charged as a standard Flexi Pension member.

If your account balance is less than $6,000 at the end of the financial year, the total combined amount of administration fees, investment fees and indirect costs charged to you will be capped at 3% of the account balance. Any amount charged in excess of that cap will be refunded.

4 From 1 October 2019, we anticipate that the ICR will decrease by up to 0.02% on the basis that the funding of the Operational Risk Reserve will reduce from 0.03% to 0.01%, although as the ICR shown is an estimate only, it may increase or decrease depending on the actual fees and costs incurred. The amounts of investment fees and ICRs for other investment options are set out in the PDS and paid at the same frequency and in the same manner as the Balanced investment option.

To find out if you’re eligible to start a pension, refer to the relevant PDS.

Get advice

Talk to UniSuper Advice on 1800 823 842 to find out how they can help you.