Energy Super is moving to 333 Ann Street, Brisbane, Qld 4001 on 7 December 2021.

During December 2021, appointments with a financial adviser will still be at our old Eagle Street office. From Monday 3 January 2022, appointments with a financial adviser will be at our Ann Street office. For all our new details visit our contact us page.

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Get your future Retirement Reward

Energy Super members transferring to an income stream account with us, could receive a Retirement Reward paid directly into their account.

If you’re actively planning for your retirement, this could be some good news for your future.

'Retirement Reward' is a potential reward for eligible Energy Super members who take up an income stream with us.

Basically, it’s a dollar reward that gives you a portion of the tax we’ve set aside to pay the Australian Taxation Office when growth assets (like shares) are sold.

But when an Energy Super member takes these growth assets from their super or Transition to Retirement TTR account (which are taxed) into an Energy Super income stream account (which is not taxed), when/if the assets are sold at a profit then no tax is paid.

This unpaid tax available is then available as a reward for retiring with us. We call it the Retirement Reward.

The Retirement Reward varies

The reward is paid into your income stream account. The amount of your reward depends on a number of things:

  • The amount of money you transfer to an income stream account
  • Current investment market conditions
  • The amount of tax we’ve set aside
  • What you’re invested in during the period leading up to your transfer
  • And the investment options you’re invested in at the time you transfer.

It’s important to know that there may be times when there is no reward, and this will be as a result of any or all of the above.

Let’s look at how it works

Scott is 66. He’s an Energy Super member who’s looking forward to retiring in 2021. He’s invested in our Balanced option, which includes growth assets – shares, property, infrastructure.

So far, so good.

When Scott retires he will be eligible for a reward.**

He just needs to keep his super account open and then transfer to an Energy Super income stream before he retires.**

Be aware of the 12 Month Rule

If you’re eligible for a reward you need to be aware of the rule concerning withdrawals† from your income stream account within your first 12 months.

If you withdraw 75% or more of your income stream account balance within 12 months of receiving a reward, your entire reward will be reversed. Once you’ve passed the 12-month period, you can make a withdrawal and still keep the entire reward.

How to check your Retirement Reward amount in Member Portal

1. Log into the Member Portal. 
2. Select the benefit quote type 'Transfer to Pension – Total Balance'.
3. Click 'Generate' button.
4. The 'Retirement Reward' amount will be shown at the end of the quote.

* Case studies are general in nature and for illustrative purposes only. A change in circumstances or assumptions may change the outcome.

** This assumes Scott remained invested in the Balanced option at the time he transferred to an income stream. The amount of his reward will depend on his balance at the date he transferred to the income stream account, how much he transferred, current market conditions and the amount of tax set aside by the Fund.

† Withdrawals include your regular pension payments and cash withdrawals, as well as any funds you roll back into your Energy Super superannuation account. It doesn’t include withdrawals related to a death benefit payment from your income stream account. Nor does it include withdrawals from your income stream account that are rolled back in to your Energy Super superannuation account in order to consolidate accounts for which are then immediately returned to your income stream account.

For Energy Super members with a Defined Benefit, the Retirement Reward is not available for the Defined Benefit portion of their account. However, the Accumulation portion of their account (such as salary sacrifice) may be entitled to the Retirement Reward. To discuss your eligibility, speak with a financial adviser from ESI Financial Services on 1300 436 374.

Financial advice is provided by ESI Financial Services Pty Ltd (ESIFS) (ABN 93 101 428 782) (AFSL 224952), a wholly owned entity of Energy Super.