Start a pension account

Retirement starts with Spirit Super. Enjoy the next phase of your life with us by your side. 

How to start a pension account

Open a new pension account in just a few easy steps.

Step 1

You transfer part or all of your super to start a new pension account. You can transfer super from more than one super fund to start your pension account. The minimum opening balance is $20,000.

Step 2

You decide how often you want to receive your pension payments (fortnightly, monthly, quarterly, twice-yearly or annually) and how much you will receive each financial year.

If you have a Transition Pension, the maximum you can receive is 10% of your account balance each year. 

If you have a Managed Pension you receive a set amount of income each fortnight.

Your pension payments will need to meet the minimum set by the government based on your age.

Step 3

We make payments to you from your account until your pension account balance is zero for Transition and Managed Pensions. If you have a Control Pension your account closes when your balance falls below $1,000. 

Tip: If you have a Managed Pension or Control Pension, you can make lump sum withdrawals from your account at any time – perfect if you want to book a holiday or pay an unexpected expense. Any lump sum withdrawals from your account may affect your future pension payments and reduce the time your savings will last.


To open a pension account, you need at least $20,000 in super and must meet a condition of release.

If you’ve reached your preservation age and are still working, you may be eligible to start a Transition Pension account.

Become a Spirit Super pension member

It’s easy to join. You’ll need to read the Pension guide and complete the Join Spirit Super Pension form.


If you have any questions about starting a pension account, chat with a super expert by calling us on 1800 005 166.

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