Retirement Bonus
Kick off your retirement with a bonus
Retire with us and you could receive a retirement bonus. Simply open a Retirement Income account with funds from your CareSuper account and you could be eligible.
What’s the retirement bonus?
The retirement bonus is a tax saving we pass on to you, when you move your super to a tax-free Retirement Income account, such as our Managed or Flexible Income accounts. The amount is calculated as a percentage of your starting balance.
How much will I receive?
The current retirement bonus rate is 0.30%of the amount you transfer to start your Managed or Flexible Income account.
There's no cap on the bonus amount paid, and the rate may vary in the future.
You transfer $300,000 from a CareSuper account to start a new Flexible Income account. Your retirement bonus will be 0.30% of $300,000 = $900. The total amount transferred to start your Flexible Income account will be $300,900.
Am I eligible?
To get the retirement bonus, you need to use money from your CareSuper accumulation account to start a Managed or Flexible Income account. You can only get the bonus once, and it won’t apply to any new accounts you open or top-ups you do in the future.
You’re not eligible for the retirement bonus if you:
- start a Transition to Retirement (TTR) Income account
- convert your TTR Income account to a Managed or Flexible Income account
- held a pension account before 1 April 2021
- are the recipient of an income stream as a reversionary beneficiary
- receive a death benefit and commence a death benefit income stream or child income stream.
DIO investments transferred from CareSuper accumulation accounts into Flexible Income accounts are not eligible for the retirement bonus.
You don’t need to apply for the retirement bonus, it’ll be calculated and paid to your account automatically.
Does the retirement bonus count towards the transfer balance cap?
Yes. You’ll need to make sure that the total amount you transfer into the retirement phase, including any retirement bonus you receive, is less than the $1.9 million transfer balance cap (2024-25) or your personal transfer balance cap, if lower.
To find out more, read our Retirement bonus fact sheet.