Flexi Pension

Manage your retirement savings, your way

With a Flexi Pension, you can pay yourself a regular income from your super—once you’re retired or while you’re still working. You can choose how to invest your money, with the flexibility to change your income payments.

Flexible payments that you choose

Choose how much and how often you are paid (subject to minimum and maximum amounts).

Investment options

Invest your super where you want it. Choose from any of our 16 investment options.

Lump-sum withdrawals

Have the flexibility to withdraw extra money (subject to some conditions).

How it works

You’ve reached your preservation age, but want to keep working

If you’re under 65, you can create a Flexi Pension as part of a transition to retirement strategy.

Boost your super by salary sacrificing some of your income and replace what you’ve sacrificed with income from a Flexi Pension.
Or you can reduce your hours as you ease into retirement and supplement your wages with an income from your Flexi Pension.

You’re ready to retire

You can create a Flexi Pension and receive regular income from your super if you’ve reached your preservation age and retired.

You can also start a Flexi Pension if:

you’re aged 60 or over and have ended your employment
you’re aged 65 or older, regardless of whether you’re still working or retired
you have an unrestricted non-preserved component of super (including death benefit income streams).

Compare our Flexi Pension

See how this product compares to other funds’ super products by using our compare tool.

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Fees

Below is a summary of our main fees for the Balanced investment option for a Flexi Pension that is not taken under transition to retirement rules.
For full details of our product fees, including how and when they're paid, read the Flexi Pension product disclosure statement (PDF, 3.1 MB).

Type of fee or cost	Amount
Administration fees and costs¹	$96 per year ($8 per month) PLUS 0.16% per Flexi Pension account, capped at $1,250 per account per financial year.
Investment fees and costs^2,3,4	0.35% per year.
Transaction costs^2,3,4,5	0.09% per year.

Things you need to know

¹ If your account balance is less than $6,000 at the end of UniSuper's income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap will be refunded.

² The investment fees and costs and transaction costs shown above are indicative only and are based on the investment fees and costs and transaction costs for the year ended 30 June 2023, including several components which are estimates. The actual amount you’ll be charged in subsequent financial years will depend on the actual fees and costs incurred by the Trustee in managing the investment option. Investment fees and costs include an amount of 0.03% for performance fees. The calculation basis for this amount is set out in the product disclosure statement.

³ The investment fees and costs and transaction costs for other investment options are set out in the Flexi Pension PDS. They are calculated on the same basis, and paid at the same frequency and in the same manner as the Balanced investment option.

⁴ Refer to ‘Additional explanation of fees and costs’ in the Flexi Pension PDS.

⁵ For the financial year ended 30 June 2024, the investment fees and costs for this option are expected to increase by 0.07%.

Apply for a Flexi Pension

Key things to know before applying:

You need to be a UniSuper member and use a minimum of $25,000 from your super to start a Flexi Pension.
Generally, there is a limit on how much you can transfer from your super to a Flexi Pension. Read more about the transfer balance cap.
Once you start a Flexi Pension you can’t add money to it—so if you want to transfer extra funds to your super, do that before you apply.
If you’re a Defined Benefit Division (DBD) member and use any part of your DBD component to open a transition-to-retirement Flexi Pension, you’ll stop being a DBD member. Your DBD component will be converted to an accumulation benefit and used to start your Flexi Pension. Your inbuilt benefits will end but, if you're eligible, you can choose transitioned insurance cover.
If you transfer your entire super account balance to a Flexi Pension (defined benefit or accumulation), your existing insurance cover will end.