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Can I contribute to my superannuation during the pension phase?

The short answer is yes. But there are conditions you need to keep in mind. 

Most importantly, contributions can only be paid into a super account.

This means pension account such as those listed below are not eligible for additonal contributions.

  • Retirement Income Accounts (RIA) / Account-Based Pension (ABP)

  • Transition to Retirement Income Accounts (TRIA).

If your money is already in one of these pension accounts and you want to add more to it, you'll need to move the money back into your super account first, then move it back into a new pension account. This may mean opening a new super account to receive those contributions. This is known as pension reboot.

Retirement Centre support

Not sure where to begin? Our Retirement Centre can provide one-on-one support and answer the questions you might be too shy to ask. Our services are available to all.

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The Pension Reboot explained

If you’ve already opened a pension account and previously transferred your super savings to it - but now want to combine your new contributions with those super savings - you’ll need to close that pension account and roll the money back to the super account which contains your contributions.

Once you’ve combined all your money in the super account you can then transfer the entire amount to a new pension account and start receiving it as regular payments again.

This process of rolling back to a super account and then transferring the combined amount to a new pension account is called a pension reboot.

There are age restrictions

If you’re under 75, all types of contributions are allowed (limits and restrictions may apply), including those listed below. Once you reach 75, your ability to contribute to your super becomes more limited. Either way, employer contributions can continue for as long as you’re working.

If you're under 75
  • compulsory employer contributions
  • additional contributions your employer chooses to make
  • salary sacrificed contributions
  • personal non-concessional contributions 
  • spousal contributions 
  • downsizer contributions from the sale of your home
  • personal tax-deductible contributions
Once you reach 75
  • compulsory employer contributions, if you’re still working
  • downsizer contributions from the sale of your home

Note: You may be able to claim a tax deducation on contributions.

You may be able to claim a tax deduction on contributions you make to your super, even if you’re retired. This will be dependent on your personal situation, work test eligibility and contribution caps. 

 

You must meet the work test if you're aged between 67 and 74 and wish to claim a tax deduction for any voluntary contributions to your superannuation.

To satisfy the work test, you must be employed and working at least 40 hours over a consecutive 30-day period in the financial year when the contribution is made. 

If you no longer meet the work test requirements, you can still make voluntary contributions to your superannuation.

You have up to 12 months from the end of the financial year in which you last met the work test to make your contributions, provided you meet certain criteria.

There are limits on how much you can contribute to avoid penalties.

  • The concessional (before-tax) contributions cap is $30,000. If your total super balance is under $500,000, you can carry forward the unused portion of your pre-tax cap on a rolling basis over five years. You can only make concessional contributions if your total super balance is under $1.9m.

 

  • The non-concessional (after-tax) contribution cap is currently $120,000 per financial year. You may be able to ‘bring forward’ your concessional contributions up to $360,000, or three times your non-concessional contributions cap over a three-year period.

Additional information about growing your super is available.

How to contribute to super in the pension phase

Before making contributions in the pension phase, ensure that you're eligible to do so:

  • Under 67: You can make contributions.

  • Between 67 and 74: You can make contributions. However, if wanting to claim a tax deduction on voluntary contributions you must meet the work test (working 40 hours within 30 consecutive days) or qualify for the work test exemption.

  • Over 75: Generally, voluntary contributions are not allowed, but certain contributions, like downsizer contributions, are exceptions.  

Any new contributions you make can only be paid into a superannuation account. 

You can’t make contributions to a pension account, e.g.

  • Retirement Income account (RIA)
  • Transition to Retirement Income account (TRIA). 
  • Account-Based Pension (ABP) 

If you don’t already have a super account, our Retirement Centre team can help you open one with Equip Super. 

Decide which type of contribution you want to make:

  • Concessional (before-tax)contributions: These include employer contributions and salary sacrifice arrangements, capped at $30,000 per year.
  • Non-concessional (after-tax) contributions: These are after-tax contributions, capped at $120,000 per year, or up to $360,000 using the bring-forward rule if you're eligible.

Additional information about growing your super is available.

Reach out to your super fund to organise the contribution. You may need to provide forms or details about the contribution, particularly if it’s a downsizer or concessional contribution.

Make sure to check that your total super balance doesn’t exceed $1.9 mil as exceeding this limit affects your ability to make contributions.  

If you're making personal concessional contributions (deductible contributions), you should tell your super fund of your intent to claim a tax deduction. This can usually be done through a notice of intent to claim a deduction form.

Ensure that your contributions don’t exceed the concessional or non-concessional contribution caps. Contributions above these limits may result in additional taxes.

Keep track of your super contributions and regularly review them to ensure you remain compliant with the contribution rules and are making the most of tax benefits.

For more insights on how to grow your super after retirement, check out our guide to growing your super.  

The benefits of contributing in the pension phase

Contributing to your super after retirement can offer both financial and practical benefits.

Tax benefits

Superannuation is a tax-effective environment. Earnings in your super account are taxed at a lower rate, and once you enter the pension phase, the investment earnings within your super are tax-free.

Flexible investment options

Even after retirement, you can continue investing within your super, which may offer better returns compared to other retirement savings options.

Boosting your retirement income

By making additional contributions, you can potentially increase your retirement balance, ensuring you have more funds to draw on over the years.

Access to downsizer contributions:

Contributing the proceeds from selling your family home (up to $300,000) as a downsizer contribution can help you boost your super balance and take advantage of a tax-effective investment.

Spouse contribution benefits

If your spouse is under 75, you can contribute to their super.

Talk to a retirement expert

What does your pathway to retirement look like? Not sure where to start? We can help.

Whether you’ve got questions about your super balance, when you can retire, or what to do once you get there, our Retirement Centre is here to help with personalised one-on-one service, practical information, and general advice. We can help you:

  • Understand your retirement options
  • Connect you with financial planning services
  • Help you open a retirement account

Call us on 1800 777 060 or book a time to speak to our team today. 

Have a general enquiry? Contact our Helpline.

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How to change super funds after you’ve retired

A lot of people don’t know that you can switch super funds after you’ve retired, in fact, it’s a simple and easy process.

Here are four reasons to consider a switch to Equip Super:

  1. Your super doesn’t stop working once you retire. Equip Super has a history of strong, long-term returns.
  2. We’re a profit-to-member fund, meaning our profits are used purely to benefit our members. 
  3. Our fees are competitive - lower fees mean more of your money stays invested.
  4. Education and advice services to help empower your financial decision-making.
Call us on 1800 777 060
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Frequently asked questions

Yes, you can contribute to your super in retirement, but there are age restrictions and contribution caps that apply.

 

There’s a maximum amount of $1.9 million (as of 2023-24) that you can transfer into the pension phase. Anything above this limit must stay in your super accumulation account. Even if you roll back to your super account, the transfer cap that applied when you first set up your pension account still applies. Even if you create a new one years later.

Yes, people receiving the age pension can contribute to super, but they must meet limits and certain conditions.

You can no longer make voluntary contributions to super once you reach the age of 75, except in some cases, like for making downsizer contributions or receiving compulsory employer contributions. 

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