First Super retirement 1
First Super retirement 1
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Allocated Pension

At First Super we understand that starting up a pension isn’t just a decision about money. It’s an important lifestyle choice that often comes with a lot of questions.

The biggest question often being, how can I maintain the comfort and security of a regular income in retirement?

To get you started on your journey, here’s some important things you need to know about how a First Super Allocated Pension account can help you.

  • Control your income in retirement. You can choose the amount of payments* and the frequency with fortnightly, monthly, quarterly, half-yearly or yearly payments.
  • Access lump sum withdrawals. You can draw down lump sums or even the entire account value when it suits you (minimum payment $1,000).
  • Pay less tax. A First Super Allocated Pension has numerous tax advantages, including no tax~ on pension payments and investment earnings.
  • Take care of loved ones. A First Super Allocated Pension lets you decide who gets what’s left in your account after you’re gone, by nominating a reversionary beneficiary to continue to receive your pension payments or by making a binding beneficiary nomination.
  • Peace of mind. If circumstances change, you can transfer the balance of your Allocated Pension account back into a super account.

If you are unsure about what is best for you, you may like to seek advice from a First Super Financial Planner^. They’ll assess your situation, discuss your goals and help you make the choice that’s right for you.

* You must draw the minimum pension payment based on the table below.
~ Based on current tax regulations for age 60 and over.
^Financial Advice will be provided by First Super financial planners who are authorised representatives of Industry Fund Services Ltd (IFS) (ABN 54 007 016 195, AFSL 232514).

Minimum Age
at 1 July

Temporary minimum drawdown for 2022/23

Under 65 2%
65–74 2.5%
75–79 3%
80–84 3.5%
85–89 4.5%
90–94 5.5%
95+ 7%



If you would like to discuss the First Super Allocated Pension, or if you have any other questions, please call our Member Services Team on 1300 360 988 or email us.