Retirement tips

Tip: look at your retirement options

When you've reached your preservation age and decided to retire, you can choose what to do with your super. You could:

• Leave your money in super and make lump-sum withdrawals from time to time
• Open an allocated pension account to have a regular income stream with the option to make lump-sum withdrawals¹
• Take your benefit as a cash lump sum

To find the right solution for your situation, you need to consider whether you’re likely to return to work, whether you’d like a regular income from your super and whether you would like to make lump-sum withdrawals.

Explore your income options

Tip: choose an investment plan to match your goals

When you choose an investment plan, you might like to consider:

• How long you’re investing for
• What your investment goals are
• How much risk you’re willing to take

Generally, once you’re retired, your goals change. You may want a regular reliable income from your super. A conservative approach to investing will give you more certainty around how much you have in retirement savings, but it could limit how much your super could grow.

Learn more about changing your investment plan

Tip: prepare for unexpected market conditions

When you’re retired or close to retiring and relying on a steady income from your super, seeing investment markets drop can be especially unsettling.

Downturns are normal with any long-term investment, including your super. That’s why it’s important to learn about ways you could help to protect your retirement savings and help your money last longer.

How to invest in uncertain markets