What is a lifetime super account?
The lifetime super account is an accumulation account within HUB24 Super that supports your implementation of future retirement strategies without changing how you operate on platform today.
- Clients remain fully invested in an accumulation environment
- No change to investment menus, administration or reporting
- No additional account fees
- Designed to create a pathway to lifetime income at retirement (via a lifetime pension, expected in 2027)
As part of an Innovative Retirement Income Stream (IRIS) product, the lifetime super account supports concessional social security assessment for eligible clients when a lifetime pension is taken up, which may improve Age Pension outcomes.¹
Importantly, clients are not locked in and are under no obligation to take up a lifetime pension.
How could a lifetime super account empower your advice?
The lifetime super account enables you to:
- Maintain flexibility now with the option of lifetime income later
- Introduce longevity planning earlier
- Keep clients aligned to their existing investment strategy and your advice approach
- Support retirement income confidence and potential Age Pension outcomes for suitable clients1
How can you open a lifetime super account for your clients?
For new clients: Use the digital application form for HUB24 Super—it’s been updated with an option to choose between a lifetime super or personal super account for clients under age 64.²
For existing HUB24 Super clients: Convert your client’s existing personal super account to a lifetime super account by completing the online Accumulation Account Transfer form. With this approach, your client can keep their existing account number with no loss of history.³
Updated Super PDS available
- View the latest PDS on AdviserHUB. Once you’ve logged in, select ‘Products & Forms’ and then ‘Offer documents.’ Then, choose the relevant Super PDS (including the Supplementary PDS) for your client.
- Learn more about lifetime super accounts on HUB24
1 Subject to individual circumstances.
2 Lifetime super accounts are available for clients under age 64 who have not met a condition of release. Your use of lifetime super accounts may also depend on your APL requirements. Details of conditions of release contained in the Supplementary PDS.
3 Applicable for clients under age 64 who have not yet met a condition of release. Your use of lifetime super accounts may also depend on your APL requirements. Details of conditions of release contained in the Supplementary PDS.