Retirement is a huge milestone, and it’s normal to have questions about what comes next. An NGS Income account is a retirement income account that helps you turn your super into a regular income stream once you retire, while keeping your money invested and flexible throughout retirement.
Whether you’re ready to retire now or planning ahead, we’re here to support you every step of the way.
How an NGS Income account works
An NGS Income account pays you a regular income from your super once you retire and meet a condition of release. When you retire with NGS Super, you can move your super savings into an NGS Income account and start receiving a regular income in retirement.
With an NGS Income account, you can:
- receive a regular income from your super
- choose how much income you receive and how often you’re paid
- keep your money invested in a super environment
- access lump sum withdrawals when you need them
You’ll need to receive at least the legislated minimum income each year, but beyond that, you have flexibility. Your money isn’t locked away.
If you’re aged 60 or over, your income payments and investment earnings are generally tax free.
How do I set up an NGS Income account?
You can set up an NGS Income account by transferring your super into retirement phase and choosing how you want to receive your income.
Here’s how to get started:
- Check your eligibility to start an income stream
- Decide how much income you’d like to receive
- Choose your investment options or our default strategy
- Read the NGS Retirement Product Disclosure Statement (PDS) and fill out the form to apply
- Get help from a Super Specialist if needed
Before getting started, it’s important to read our NGS Retirement Product Disclosure Statement (PDS), which explains how the account works and whether it’s right for you. Head to the ‘Checklist and forms’ section to apply for an NGS Income account.
If you’d like guidance before applying, we’re here to talk through your options.
Benefits of an NGS Income account
An NGS Income account is designed to give you confidence, flexibility, and support throughout retirement.
Your money stays invested
Income flexibility
Access your money when you need it
Retirement Bonus
Competitive fees
Financial advice and ongoing support
NGS Super Calculator
For most people, super will be their main source of income in retirement, so it’s natural to wonder how much you might need, and how long your savings could last.
Our Super Calculator can show you how much income you may be able to draw from your super to make your retirement savings last.
We’re here to support you
No matter where you are on your retirement journey, you don’t have to figure it out alone.
Give us a call
Call our helpline on 1300 133 177 (Mon–Fri, 8am–8pm AEST/AEDT) with any questions you might have about your super and retirement.
Book an NGS Advice appointment
Book an appointment with a Super Specialist or a Financial Planner to get advice tailored to your situation.
Education and resources
Book an appointment with a Super Specialist, Phone Adviser or a Financial Planner.
