It allows you to withdraw a regular income stream from the money you’ve accumulated in super once you have reached your preservation age.


Because the income stream is drawn down from your super savings, the length of time it will last is dependent on a number of factors including your starting balance, performance of the investments and your withdrawal amount. 

Are there limits to how much or little I can take out?

There is no maximum limit on the amount you can take from your account-based pension, but a minimum annual amount does apply based on your age and balance. The minimum amount is calculated each year by multiplying your account balance with a percentage factor depending on your age (as below). 

Age Percentage factor
Under 65 4%
65-74 5%
75-79 6%
80-84 7%
85-89 9%
90-94 11%
95 or more 14%

If I have an account-based pension can I receive the aged pension?

If you’re eligible to receive the government Age Pension, you receive an income from both sources. 


It's important that you understand how your account-based pension will impact the amount of Aged Pension you receive. 


Visit Services Australia for more information.

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Things you should know

Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557 and issuer of FirstChoice range of super and pension products. Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the responsible entity and issuer of products made available under FirstChoice Investments and FirstChoice Wholesale Investments. 


Information on this webpage is provided by AIL and CFSIL. It may include general advice but does not consider your individual objectives, financial situation, needs or tax circumstances. You can find the target market determinations (TMD) for our financial products at which include a description of who a financial product might suit. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at or by calling us on 13 13 36.