Retire with us

Whether you’re ready to ease into retirement or say goodbye to work forever, we offer flexible pension options to meet your needs.

Why choose us for your retirement journey?

We’re here to support your retirement, your way. We can help you a lot, or a little — it’s up to you.

You’ve worked hard for your super; now it’s time to enjoy it. We’re here to help you explore the endless possibilities of retirement.


Our pension accounts are flexible to suit your needs. We offer three pension options — Transition, Control and Managed — that allow you to be as involved as you want with your account.

Members first

Spirit Super is proudly an Industry SuperFund. We charge low fees and cap our administration fees. There are no joining fees or costs to change your investments or make withdrawals from your account.

Professional investment management

Our investment experts work hard to try and maximise your investment returns during retirement, while protecting your savings from large fluctuations.

Online tools and resources

With Member Online, you can access and manage your account any time, anywhere.

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If you have questions about us or our pension options, you can have a chat with one of our friendly super experts.

Retirement bonus

Open a Managed Pension or Control Pension with money from your Spirit Super account and you could be eligible for a retirement bonus.

What’s the retirement bonus?

When you transfer money from your Spirit Super account to a tax-free pension account like our Managed Pension or Control Pension, the money we put aside to pay certain taxes while your money was in the super phase can be returned to you.

The retirement bonus amount is calculated as a percentage of your starting balance and, if you're eligible, it will be automatically added to your new pension account.

The current retirement bonus rate is 0.30% of the amount used to start your Managed Pension or Control Pension. There's no cap on the bonus amount paid, and the rate may vary in the future.

Eligibility for the retirement bonus

To get the retirement bonus, you need to use money from your Spirit Super accumulation account to start a Managed Pension or Control Pension account. You can only get the bonus once, and it won’t apply to any new accounts you open or top-ups you do in the future.

You’re not eligible for the retirement bonus if any of the following apply to you:

  • start a Transition Pension
  • convert your Transition Pension to a Managed Pension or Control Pension
  • held a pension account before 1 April 2021
  • are the recipient of a pension as a reversionary beneficiary
  • Receive a death benefit and commence a death benefit pension or child pension.

To find out more, read the Retirement bonus fact sheet.

Pension account essentials

Everything you need to know about starting a pension account with us.

Minimum opening balance You need a minimum of $20,000 to open a pension account with us.
Maximum opening balance The transfer balance cap is a limit on how much super you can transfer into retirement products like our Control and Managed Pensions. The transfer balance cap is $1.9 million for 2023-24 and applies to the combined total of all tax-free retirement phase income products you have with both Spirit Super and other super funds. You can check with the ATO on what your personal transfer balance cap amount is.
The limit doesn’t apply to Transition Pension accounts, but it will apply when you turn 65 or if you convert your account to a Control Pension or Managed Pension before turning 65.
Payment amounts With a Control Pension or Transition Pension, you can choose how much you want to receive as a pension each financial year, as long as it meets the minimum payment amount set by the government (and maximum amount for the Transition Pension).
With a Managed Pension you’ll receive a set income each year.
For more information on pension payments, read the Pension guide.
Payment frequency For a Transition Pension or Control Pension, you can receive your pension payments:
  • fortnightly
  • monthly
  • quarterly
  • twice-yearly or
  • annually.

You can change the frequency of your pension payments at any time, but you must receive at least one pension payment each financial year.

For a Managed Pension you can only receive payments fortnightly.

How will I receive my payments? Your pension will be paid to your nominated bank, credit union or building society account. We can't pay you by cheque or cash.
How long will my payments continue? For Transition and Managed Pensions, your pension payments will continue until your account balance is zero. If you have a Control Pension your account will close once your balance falls below $1,000.
How long your pension lasts will depend on a range of factors, including:
  • your opening account balance
  • how much you withdraw, including regular payments and any lump-sum withdrawals
  • investment returns applied to your account and
  • any fees, costs and taxes deducted.
There's no guaranteed period, and your pension may not last for the rest of your life.
Lump sum withdrawals You can make lump sum withdrawals at any time from a Managed Pension or Control Pension account. You need to have at least $6,000 left in your account after the withdrawal. Any tax you pay on lump sum withdrawals will depend on your age and tax components of your account.
If you have a Transition Pension account, you generally can't make lump sum withdrawals unless you meet a condition of release, in which case your Transition Pension account will be converted to a Control Pension account.
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Read our Pension guide

Looking to find out more about retiring with Spirit Super? Check out our Pension guide.

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