Pension options

We offer a range of Pension options to meet your individual needs.

Taking up any of these options may mean that you receive tax advantages.

Pension optionOption suitable for people
Transition to Retirement (TTR) Pension
  • Aged 56 or over, and
  • Working full or part-time
Retirement Pension
  • Aged 56 or over and fully retired, or
  • Aged 65 or over, regardless of employment status.
Disability Pension
  • Suffered permanent incapacity
  • Who are unable to work again

If you would like to discuss our Pension options in more detail or would like some advice on how to start a LUCRF Pension, please call our Contact Centre on 1300 130 780.

To start a LUCRF Pension just follow the steps outlined on the how to join LUCRF Pension page.

Transition to Retirement (TTR) Pension

The Transition to Retirement Pension can be used to save tax and/or to provide some extra income and is for people who:

  • Are still working full or part time
  • Are between age 56 and 65, and
  • Want their super to be working harder for them.

What's in it for you?

  • Create a regular income stream by converting your super balance into a LUCRF Pension
  • Smooth out the peaks and troughs that come with part-time or casual work
  • Can be used to replace lost income if you reduce your hours of work
  • Have more super when you retire, and
  • Pay less tax without changing your current income.

Learn how to boost your TTR. 

Retirement Pension

The Retirement Pension provides regular pension payments with the flexibility of choosing lump sum payments. It is for people who are:

  • 56 years of age or older and are fully retired
  • 65 years of age or over, regardless of employment status, or
  • Permanently incapacitated (any age).

What's in it for you?

  • Create a regular income stream by converting your super balance into a LUCRF Pension
  • Receive a regular income making it easier to plan and budget, and
  • Choose how your money is invested while not paying any tax on the earnings.

Retirement Pension facts

  • Tax-free investment earnings
  • You can retain any Death and TPD and Death Only insurance cover you had in your LUCRF Super account when you close it
  • No tax is payable on regular pension payments for members aged 60 and over
  • You receive regular pension payments at the frequency that suits you
  • For members 56 to 60 years of age tax is payable at your marginal tax rate on some regular pension payments. However, a 15% tax offset (rebate) will apply.
  • No maximum limit to pension payments
  • You can use any or all of LUCRF Super’s investment options
  • Member online account access is available 24 hours a day, and
  • Commutable to lump sum payment.

Disability Pension

The Disability Pension can be used to provide a tax effective, regular income stream where you are permanently incapacitated and unable to work.

Disability Pension facts

  • Tax-free investment earnings
  • No tax is payable on regular pension payments for members aged 60 and over
  • Flexible payment frequencies can be applied
  • For members under the age of 60, a 15% tax rebate will be applied to any regular pension payments
  • There is no maximum limit to pension payments
  • It can be commutable to a lump sum payment
  • You can use any or all of LUCRF Super's investment options, and
  • Members Online account access is available 24 hours a day.