Managing your account

It’s important that you review your pension regularly to ensure your objectives are being met.

Review your pension payments
Your minimum and maximum* payment amounts change on 1 July every year. AustralianSuper will write to you by 15 July to advise your new payment amounts.

Check that your new payment amount is enough to meet your needs. You can change your payment amount or frequency, as well as other details like how your payment is funded and the indexation amount, at any time by calling AustralianSuper or via PensionOnline.

Keep Centrelink informed
AustralianSuper will provide Centrelink (and/or the Department of Veterans Affairs) with a Centrelink Schedule in March and September each year. You can request a Centrelink Schedule from us at any time.

Centrelink may also require other information from you throughout the year. Make sure you respond promptly to any correspondence they send you as it could affect the payment of your pension.

Consider your personal circumstances
The beginning of a new financial year is also a good time to make plans. Is there something you would like to do that will require additional money – take a trip, buy a new car or another special event?

AustralianSuper allows you to make lump sum withdrawals from your pension account at any time**, subject to certain limits. Contact us or visit PensionOnline for details.

_{* The maximum limit only applies if you have taken up the Transition to Retirement option.
** Restrictions apply under the Transition to Retirement option.}

Review your investment strategy
Your financial objectives may change as you get older, so you should regularly review your investment strategy.

AustralianSuper offers a choice of 15 different investment options. There is no fee to switch between investment options.

Check your beneficiaries
Make sure your nominated beneficiary details are up-to-date so your wishes can be followed upon your death.

You can elect to change your binding or non-binding nomination at any time if your personal circumstances change. However, once you have nominated someone as your reversionary pensioner, your nomination cannot be changed.

Visit your financial planner
It’s a good idea to meet with your financial planner at least once a year to make sure your finances are on track.