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An accumulation account is the default. While a member is building their super — receiving contributions, reinvesting returns, growing the balance — the money sits in accumulation. There is no requirement to draw anything out.

In this illustration, Susan is62and has permanently retired, meeting a full condition of release. She is the sole member of her SMSF, which holds$1,000,000entirely in a retirement-phase account-based pension as at 1 July 2026. Her balance is comfortably within the general transfer balance cap, …

An SMSF account-based pension must pay a minimum amount each financial year, set as a percentage of the member’s balance that increases with age. With the temporary COVID-era 50% reduction having ended on 30 June 2023, the standard rates apply in full for 2026–27:

Australia uses a system calleddividend imputationto avoid taxing company profits twice. When an Australian company earns a profit, it pays company tax on it. When it then pays part of that after-tax profit to shareholders as a dividend, it can attach afranking creditrepresenting the …

For years, preservation age crept up in stages depending on date of birth. That phase-in is finished. Everyone born on or after 1 July 1964 has a preservation age of 60, and the final cohort reached 60 by 1 July 2024. In practical terms, …

Atransition to retirement income streamis available from preservation age — now60 for everyone— while a member is still working and before they have met a full condition of release. It lets a member draw down some super without retiring. A TRIS has firm payment …

AustralianSuperannuationlaw does not switch contribution eligibility on or off based on a member declaring retirement. What matters is age brackets and, for some contribution types, whether a work test is met. A retired 66-year-old and a still-working 66-year-old face broadly the same contribution rules. …