Withdrawals

You can withdraw a lump sum in addition to your regular pension payments. The minimum lump sum withdrawal amount is $1,000. Each time you make a withdrawal you’ll be charged a fee of $55.

If your Pension account balance reaches $1,000 or less, it will be automatically closed and the balance paid into your nominated bank account. 

To make a lump sum withdrawal, simply login to your PensionOnline account or complete the Pension withdrawal form. 

Lump sum withdrawals generally aren't available from your Transition to Retirement Pension account.  Read the Pension PDS for more information.