Retire with us

Embrace life after work with our easy, flexible retirement options.

Why choose Spirit Super?

We’re here to help you explore the endless possibilities of retirement.

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?

Help and support when you need it 

We’re here to support your retirement, your way. We can help you a lot, or a little — it’s up to you. Get help and advice in person, over the phone or by email.


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. Find out more.

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. Find out more

Putting members first

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 anytime, anywhere.

Exclusive member offers and benefits

As a Spirit Super member, you get access to exclusive deals on insurance, financial products and home loans. Get the details


If you have questions about us or our pension options, chat with a super expert by calling us on 1800 005 166.

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 maximum amount you can transfer into a pension account is $1.7 million. This limit applies to all amounts you transfer into your Spirit Super pension account. You can check with the ATO on what your 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.


Each year, you pay a flat-rate administration fee of $67.60 plus 0.10% of your account balance, up to a maximum total administration fee of $450 each year. See all pension fees and costs


Your pension will be assessable for Centrelink's assets and income tests. 

Investment options

If you have a Control Pension or Transition Pension account, you can invest in one, or a mix of, our nine investment options

Investment earnings  

Investment earnings credited to your Managed Pension or Control Pension account are generally tax-free.

Investment earnings on a Transition Pension account are taxed at 15% before you retire and are tax-free after you retire.

To find out more about retiring with Spirit Super, read the Pension guide


If you have questions about retirement or need help working out your next step, chat with a super expert by calling us on 1800 005 166.

Retirement bonus

You could be eligible for a retirement bonus when you start a Managed Pension or Control Pension.

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.


You transfer $300,000 from a Spirit Super account to start a new Managed Pension account. Your retirement bonus will be 0.30% of $300,000 = $900. The total amount transferred to start your pension will be $300,900.

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 make in future.

You’re not eligible for the retirement bonus if 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 reversionary account or
  • start a death benefit pension or child pension.

To find out more, read the Retirement bonus fact sheet

Related resources

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