How IRIS works

A super income stream (including transition to retirement) or term allocated pension is simply an investment that produces regular income from your superannuation for your retirement.

Income streams, often referred to as pensions, are among the most popular methods for providing income to retirees.

You can join IRIS by transferring money from your superannuation fund upon reaching your preservation age. You choose when and how often (within Federal Government limits) you receive income payments from your account.
IRIS has a suite of investment options which you can choose from. Your investment is pooled with that of many other investors and managed by expert Australian and international investment managers.

The value of your investment at any time is determined by the value of the assets held within your investment options(s). This is reflected in the weekly earning rate calculated for each investment option.*

The value of each week’s earning rates is dependent on the underlying assets, income (such as interest, rent or dividends), expenses or taxes. These underlying assets are influenced by movements in the investment markets. Performance can be either positive or negative.**

Investment earnings are calculated and applied to your account weekly. Income payments and fees are deducted from your overall account balance.

You can find out the value of your investment at any time by contacting us or login to IRIS Member Online.

*Earning rates are calculated as at the end of each Wednesday. Where Wednesday is not a business day in Victoria they are calculated as at the end of the next business day. SMI, the Responsible Entity of IRIS, may decide, in its discretion, to strike special earning rates on any other day.

**Neither SMI, the Responsible Entity of IRIS, any of its investment managers nor the appointed custodian guarantees the capital or the performance of any of the IRIS investment options. All investments have a degree of risk. The risk depends on market factors and economic fluctuations relating to capital growth or income. Your investment options will be invested and administered with due care and skill to minimise any operational risks.