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 (if applicable) pension payment amounts change on 1 July every year. AustralianSuper will write to you by 15 July to advise your new pension payment amounts.

Check that your new pension payment amount is enough to meet your needs. You can change your pension 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 will not receive a copy). 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 Government age 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 on 1300 789 932 or visit PensionOnline to make a partial withdrawal.

_{* Restrictions apply to people taking up a pension using 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.

Changes to your non-binding nomination can be made by contacting us or visiting PensionOnline. Changes to your binding nomination must be made in writing. If you wish to make, renew or change a binding nomination, complete a Binding death benefit nomination form, or call AustralianSuper on 1300 789 932 to request a copy to be mailed to you.

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.