Compare pension funds that give you an annual income in retirement

You don't have to withdraw all your super at once. You can create a regular, tax-effective income stream by using an account-based pension fund.

1 - 17 of 100
Name Last 1 year performance (p.a.) Last 3 year performance (p.a.) Last 5 year performance (p.a.) Last 10 year performance (p.a.) Fees on $50k balance (p.a.)
Aware Super Retirement Income - Conservative Balanced Indexed
Aware Super logo
Industry fund
Last 1 year performance (p.a.)
+18.65%
Last 3 year performance (p.a.)
N/A
Last 5 year performance (p.a.)
N/A
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$197
More Info
Aware Super Retirement Income - International Shares
Aware Super logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+30.09%
Last 3 year performance (p.a.)
+11.23%
Last 5 year performance (p.a.)
+13.13%
Last 10 year performance (p.a.)
+12.76%
Fees on $50k balance (p.a.)
$197
More Info
Australian Retirement Trust - International Shares Index (unhedged) Pension
Australian Retirement Trust logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+28.37%
Last 3 year performance (p.a.)
+10.64%
Last 5 year performance (p.a.)
+12.74%
Last 10 year performance (p.a.)
+13.07%
Fees on $50k balance (p.a.)
$192
More Info
Hostplus Pension - International Shares - Indexed
Hostplus logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+29.6%
Last 3 year performance (p.a.)
+11.57%
Last 5 year performance (p.a.)
+13.47%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$336
AustralianSuper Choice Income Account - Indexed Diversified
AustralianSuper logo
Industry fund
Last 1 year performance (p.a.)
+21.19%
Last 3 year performance (p.a.)
+6.66%
Last 5 year performance (p.a.)
+8.13%
Last 10 year performance (p.a.)
+8.3%
Fees on $50k balance (p.a.)
$142
More Info
HESTA Allocated Pension - Indexed Balanced Growth
HESTA logo
Industry fund
Last 1 year performance (p.a.)
+22.29%
Last 3 year performance (p.a.)
+6.9%
Last 5 year performance (p.a.)
N/A
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$243
More Info
Hostplus Pension - Indexed Balanced
Hostplus logo
Industry fund
Last 1 year performance (p.a.)
+22.97%
Last 3 year performance (p.a.)
+7.17%
Last 5 year performance (p.a.)
+8.37%
Last 10 year performance (p.a.)
+8.66%
Fees on $50k balance (p.a.)
$316
Aware Super Retirement Income - Conservative Balanced Socially Conscious
Aware Super logo
Industry fundEthical
Last 1 year performance (p.a.)
+14.96%
Last 3 year performance (p.a.)
+5.43%
Last 5 year performance (p.a.)
+6.58%
Last 10 year performance (p.a.)
+7.54%
Fees on $50k balance (p.a.)
$342
More Info
Australian Retirement Trust - Balanced Index Pension
Australian Retirement Trust logo
Industry fund
Last 1 year performance (p.a.)
+22.93%
Last 3 year performance (p.a.)
+5.9%
Last 5 year performance (p.a.)
+7.57%
Last 10 year performance (p.a.)
+8.18%
Fees on $50k balance (p.a.)
$192
More Info
UniSuper Allocated Pension - Global Companies in Asia
UniSuper logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+26.7%
Last 3 year performance (p.a.)
+8.3%
Last 5 year performance (p.a.)
+12.5%
Last 10 year performance (p.a.)
+13.71%
Fees on $50k balance (p.a.)
$356
AustralianSuper Choice Income Account - International Shares
AustralianSuper logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+26.37%
Last 3 year performance (p.a.)
+7.21%
Last 5 year performance (p.a.)
+12.25%
Last 10 year performance (p.a.)
+12.69%
Fees on $50k balance (p.a.)
$297
More Info
Australian Retirement Trust - Conservative Balanced Pension
Australian Retirement Trust logo
Industry fund
Last 1 year performance (p.a.)
+17.3%
Last 3 year performance (p.a.)
+7.27%
Last 5 year performance (p.a.)
+8.32%
Last 10 year performance (p.a.)
+9.04%
Fees on $50k balance (p.a.)
$472
More Info
Spirit Super Control Pension - Growth
Spirit Super logo
Industry fund
Last 1 year performance (p.a.)
+19.62%
Last 3 year performance (p.a.)
+7.02%
Last 5 year performance (p.a.)
+8.61%
Last 10 year performance (p.a.)
+9.7%
Fees on $50k balance (p.a.)
$501
UniSuper Allocated Pension - Growth
UniSuper logo
Industry fund
Last 1 year performance (p.a.)
+21.51%
Last 3 year performance (p.a.)
+5.72%
Last 5 year performance (p.a.)
+8.68%
Last 10 year performance (p.a.)
+9.61%
Fees on $50k balance (p.a.)
$471
AustralianSuper Choice Income Account - Australian Shares
AustralianSuper logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+24.14%
Last 3 year performance (p.a.)
+9.9%
Last 5 year performance (p.a.)
+10.76%
Last 10 year performance (p.a.)
+10.59%
Fees on $50k balance (p.a.)
$222
More Info
Australian Retirement Trust - International Shares Index (hedged) Pension
Australian Retirement Trust logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+31.1%
Last 3 year performance (p.a.)
+5.8%
Last 5 year performance (p.a.)
+10.96%
Last 10 year performance (p.a.)
+10.27%
Fees on $50k balance (p.a.)
$192
More Info
Hostplus Pension - International Shares (Hedged) - Indexed
Hostplus logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+32.35%
Last 3 year performance (p.a.)
+6.71%
Last 5 year performance (p.a.)
+11.26%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$321
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Showing 17 of 100 results

The information in this table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.

*Past performance data and fee data is for the period ending October 2024

What is a pension fund?

A pension fund, or account-based pension, lets you turn your superannuation into a regular income stream once you've reached retirement age. You allocate a portion of your super into a pension fund and then choose to receive a regular payment from the fund.

The income stream can be annual, monthly, fortnightly — whatever works for you.

An account-based pension fund is a tax-effective way to set up a regular income for your retirement, while keeping the bulk of your super invested.

What are the benefits of a pension fund?

Create a fixed but flexible income stream

Helps you create — and stick to — a fixed income in retirement. Many retirees prefer this to pulling out a lump sum, spending it over time and then dipping back into their remaining super.

Transition from work to retirement seamlessly

You can set up payments to come in just as your salary was paid while you were working.

Keep your money invested

If you withdraw all your super as a lump sum then it's no longer invested with your fund. This is fine if you've got other plans for the money.

But if you have an account-based pension fund the money is still invested. You're benefiting from investment returns for longer.

Tax advantages

If you're 60 or older, you don't pay tax on account-based pension payments. And you don't pay tax on any investment earnings once you reach retirement age either.

How to compare pension funds

When comparing pension funds look at:

  1. Fees. The lower the fees the more money you have invested.
  2. Performance. Like super funds, the past performance of a pension fund over 5 or 10 years is a useful way of comparing funds. But it does not guarantee future returns will be as high.
  3. Investment options. Look at what investment options are on offer, such as balance, high growth, conservative. A lot depends on your risk levels, and the older you are the less risk you can typically afford.
  4. Accessibility. A good pension fund offers online access via a website or app, giving you more control over your finances.

How to set up a pension fund

  1. Compare pension funds. See our tips above.
  2. Transfer a lump sum from your super fund into the pension fund account. You can choose the amount that you want to transfer.
  3. Select your payment frequency. You need to get at least an annual payment, but you can choose monthly or quarterly payments too. There is a minimum amount you have to withdraw annually, known as a pension drawdown requirement. This minimum increases as you get older.
  4. Select your investment option. Like your super fund, the money you place in an account-based pension fund is invested. Depending on the fund you choose, you'll have different investment options like balanced, high growth and so on.

💡 Before doing any of the above, it's worth talking to a financial advisor and an accountant to make sure you're setting everything up in a way that's tax effective and aligns with your goals.

How much of your super can you access via a pension fund?

You can access (or "drawdown") as much of your super as you like once you've hit preservation age. But there are minimum amounts you can withdraw from the age of 64. Your minimum drawdown amounts increase as you get older.

Minimum drawdown rates

The ATO notes that the following information is indicative only. Figures are for the 2023-24 financial year.

Age
Minimum % of super balance you must drawdown
64
4%
65–74
5%
75–79
6%
80–84
7%
85–89
8%
90–94
11%
95 and over
14%

More pension fund questions

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