Open a pension account

Enjoy a regular tax-free income with an account-based pension. Mine Wealth + Wellbeing is a profit-to-member fund, which means we don’t earn a profit for ourselves or shareholders. We cover our costs only, so we return more to you through investment returns and lower fees and charges.

How to open a pension

Our account-based pension is available to anyone who has at least $15,000 to invest and:
- has retired early due to disablement, or
- has reached preservation age and has permanently retired or is over age 65, retired or not.

If you're between preservation age and age 65 and still working, and you'd like to access your super as a pension, you can open a pre-retirement pension.

Download the forms now

Follow the steps below to open a Mine Wealth + Wellbeing Pension. You'll need to print out some forms and send them to us along with your certified identification. 

  • Step

    Combine your super into one account and make any final cash payments

    You can only use super money to set up a pension and once your pension's up and running, you can't add any more money to it. That's why it's important to consolidate any other super accounts and other investments or money you'd like to include in your pension before setting up your pension.

    1. Consolidate all your super into one super account

    • If you have a Mine Wealth + Wellbeing Super account, use our consolidation tool to combine your super into your Mine Wealth + Wellbeing Super account.
    • If you don't have an Mine Wealth + Wellbeing Super account, make sure all your super is consolidated into one of your super accounts. Once you've done this, you can use this account to set up your pension with us.
    Things to consider

    Before combining your super you should consider any differences in insurance between your old and new funds, if the cover through your Mine account is appropriate for your situation, any unique insurance offerings under your old funds and if they have exit fees.

    If you have any questions please call us on 13 MINE (13 64 63), email or contact your financial adviser. We can also put you in touch with Mine Wealth + Wellbeing Financial Advice to discuss your personal circumstances.

    2. Make any final cash payments into your super account

    • If you have an Mine Wealth + Wellbeing Super account make your final cash payments. Remember, if you're over age 65 and not working you're unlikely to be able to contribute to super.
    • If you don't have an Mine Wealth + Wellbeing Super account deposit any other money into your chosen super account.

  • Step

    Print out and complete the pension application form

    Once your super's in one account and you've deposited any other money you'd like included in your pension into this account, you're ready to set up your pension by filling out an:

    If you're under age 60, you also need to fill out a Tax Declaration, which you can pick one up from a post office or the tax office.

    Use the application form to provide the following information

    1. Your contact details. Fill out section 1 of the application form.
    2. Your banking details. Tell us the bank account you want us to deposit your pension payments into by filling out section 2 of the application form.
    3. The amount you want to transfer to your pension. Fill out section 3 of the application form.
    4. Think about where your pension's invested. You can choose from our range of investment options or leave the investing to us and we'll invest your pension in Capital Guarded. Fill out section 5 of the application form.
    5. Decide how much income you'd like from your pension. You can choose how much you'd like paid from your pension, but it must be above the government's minimum amount or, if you're setting up a pre-retirement pension, between the government's minimum and maximum amounts. Find out more about minimum and maximum amounts. Fill out section 5 of the application form.   

    Remember to sign the declaration at section 6 of the application form.

  • Step

    Confirm your identity

    It's important your pension is safe and secure. When you call us or request a change to your account, this information will help us make sure it's you making the request, not someone else.

    Find out how to confirm your identity

    Once you've done this send your application form and certified identity documents to:
    Mine Wealth + Wellbeing
    Locked Bag 2020
    NSW 2300

Optimise your account

  • Step

    Have a say in who'll receive your pension if you die

    You can nominate the people you want to receive your pension if you die. There are special rules around who you can nominate and how we pay your benefit.

    Nominate your beneficiaries

  • Step

    Make confident and informed financial decisions

    If you need financial advice, it's good to know Mine Wealth + Wellbeing Financial Advice provides free phone advice on simple matters affecting your Mine Wealth + Wellbeing Pension. Face-to-face and more complex advice starts from just $330!

    Find out more (or call 13 MINE (13 64 63) to speak to a financial adviser)