IRIS Super Income Stream

Whether you are ready to fully retire or wish to transition into retirement, you can transfer your money from your superannuation fund into a super income stream (previously referred to as an ‘allocated pension’).

Your IRIS Super Income Stream will provide you with a regular income (until your funds are exhausted). You have the option to:

• change the amount or frequency of the income payments at any time* (restrictions apply for Transition to Retirement (TTR) members);
  
  
• choose from a diverse range of investment options;
  
  
• convert some or all of your investment back into a lump sum (excludes TTR members) if your circumstances change. All lump sum and income payments are tax free if you are age 60 or over;
  
  
• nominate binding beneficiaries (spouse, dependant children, estate) whereby the remaining balance of your account will be paid these beneficiaries in the event of your death; and
  
  
• view and make changes to your investment online at any time.

When your application has been accepted by IRIS, an account will be established in your name. The account works on an accumulation basis, which means that investment earnings (which may be positive or negative) are applied to your account, and payments to you, along with fees, are deducted from your account. More about how IRIS works

Please read the Product Disclosure Statement (PDS) carefully before making any decision on investing in IRIS. We recommend that you see a qualified financial planner to discuss your personal circumstances.

If you would like to find out more about retirement income streams and investing in general, the Australian Securities and Investments Commission (ASIC) website has a number of tools and resources available.

* Provided that the amounts you choose comply with the limits, if applicable, as set by the Federal Government.