When signing up for a Retirement or Transition to Retirement account with Superhero you will select your payment amount and frequency. Once your account setup is complete, you can change your payment preferences from within the Superhero app. This includes your payment frequency, amount and where you would like the payments to come from across your investments if you hold more than one investment option.

Retirement Account

When you have a Retirement account you can withdraw your super via an income stream or lump sum payment. You can choose the frequency and amount you wish to receive with income stream payments, with a minimum of between 4-14% of your account balance per year depending on your age. 

There is no maximum amount you can withdraw from a Retirement account.

Transition to Retirement Account

When you have a TTR account you can withdraw your super via an income stream payment. You can choose the frequency and amount you wish to receive each payment, with a minimum of 4% and maximum of 10% of your account balance per year.

You can change your payment type, frequency and amount from the Profile of your Superhero Retirement or Transition to Retirement account.

Further information is available in the Superhero Retirement Product Disclosure Statement.

Retirement Account

There is no maximum amount you can withdraw from a Retirement account.

Transition to Retirement Account

You can withdraw a maximum of 10% of your account balance per year in a Transition to Retirement account.

You can change your payment type, frequency and amount from the Profile of your Superhero Retirement or Transition to Retirement account.

Further information is available in the Superhero Retirement Product Disclosure Statement.

Retirement Account

The Superhero Retirement account requires you to draw down a minimum of between 4-14% of your account balance per year depending on your age. 

Transition to Retirement Account

The Superhero Retirement account requires you to draw down a minimum of 4% of your account balance per year.

You can change your payment type, frequency and amount from the Profile of your Superhero Retirement or Transition to Retirement account.

Further information is available in the Superhero Retirement Product Disclosure Statement.

For details on how your account is taxed in a Superhero Retirement or Transition to Retirement account please read the Superhero Retirement Product Disclosure Statement.

For details on how your investments are taxed in a Superhero Retirement or Transition to Retirement account please read the Superhero Retirement Product Disclosure Statement.

The government’s moneysmart website provides information and a retirement planner to help you estimate how much super you’ll have when you retire.

The amount of super you’ll need when you retire depends on:

• your big costs in retirement, and
• the lifestyle you want.

Most people can now expect to live well into their eighties. This means that if you stop working at 65, you’ll need retirement income for 20 years or more.

The fees for the Superhero Retirement account are the same as the fees for the Superhero Super accumulation phase account.

The fees for Superhero Super are made up of an administration fee and investment fee. The administration fee paid by you for Superhero Super is $52 per year regardless of your account balance plus 0.35% of your account balance per year. The investment fees depend on the investment option(s) your super is invested in. Additional fees apply for Direct Investments.

Full details of the fees for Superhero Retirement can be found in the Product Disclosure Statement.

The investment menu for the Superhero Retirement account is the same as the investment menu for the Superhero Super accumulation phase account.

Superhero Super offers a wide range of investment options across Diversified, Single Sector, Thematic and Direct Investments. 

Our Diversified and Single Sector options are managed by global investment leader Mercer, who manages super investments for over 850,000 Australians. 

Our thematic investments are managed by global ETF providers including Betashares and iShares, and our Direct Investments include individual shares in the ASX300 and a range of over 200 ETFs, LICs and Hybrid securities.

The full list of investments can be found in the Direct Investment Guidefor Diversified, Single Sector and Thematic investment options and in the Direct Investment Menu for Direct Investments. Please  read  the Retirement Product Disclosure Statement for further information